Broker Account - A broker account represents the business entity to which you will pay a commission. You can add more than one broker to each account, but those brokers will not each receive a statement.
Broker - A broker represents an individual who brings in deals. We track commissions at the broker level and then group those commissions onto statements at the account level.
Deal - A deal represents the relationship between a broker and their commission. If you need to remove a deal, make sure that it is ended first.
Commission Rate - A commission rate is used to calculate the amount of commission that should be paid to a broker. Commission rates have an effective date range and can be changed over time.
Commission Schedule - A commission schedule is a collection of commission rates and their effective dates. Together a schedule will represent the contract you have with a broker for a specific deal. It can specify rate changes as well as when the commissions will end.
Commission Line - A commission line is the amount of money that will be paid in commission based on a single patient’s membership charges. This is calculated using the membership revenue and the commission rate effective on the start date of the membership charge.
- Pending - when the membership charge is generated, but has not yet been collected
- Payable - when the membership charge amount has been collected
Commission Statement - A statement represents a monthly collection of commission lines. It aggregates the amount payable to the broker accounts and tracks the payout to the broker account on a monthly basis.
Commission Statement Lifecycle:
- Historical - When commission tracking is moved into Hint, many existing deals will exist. HintOS will generate data for the prior 3 months to allow comparison with existing commission tracking tools. These statements will not affect total amounts, and can’t be edited or modified. This status is not part of the lifecycle of a normal statement.
- Draft - HintOS is actively adding and removing commission lines from this statement as membership charges are added, changed, or removed. Draft statements will show pending and payable commission lines, but the total will only reflect payable lines. Draft statements can be issued
- Issued - When a statement is issued the pending (not collected) commission lines will be moved to the next month’s draft invoice. The commission line amounts will be locked, if edits are made to the underlying membership charges new commission lines will be added to reflect the changes on a future statement (ie a refund). Issued statements can have a payout recorded on them.
- Paid - A record of a payout to the broker account was entered and the statement’s life cycle is complete. A payout can be marked as refunded if necessary.
Statement Adjustment - A statement adjustment can be added to edit the total amount that will be paid out to a broker’s account. A broker, amount, category (bonus, correction, other) and optional memo will be stored as part of the adjustment.