How do I setup Clawbacks?

The CCD system calculates for each holding the clawback position for two scenarios; the current clawback liability and the actual clawback liability.
 
The current liability is the amount of commission that is exposed to clawback as at the current system date (the premium reconcile date).
 
The actual clawback due is calculated by the system when the holding is cancelled, but will need to be recorded manually.
 
The system will calculate the clawback liability for all cases for which the contract is in force and where indemnity commission has been posted.
 
The system calculates the number of payments that have been paid as well as the number of payments within the earnings period. The calculation of current clawback is based on the number of payments that have been paid divided between the number of payments within the earnings period. The resulting fraction is then applied to the exposed commission.  
 
Exposed commission is calculated by the system as the amount received on indemnity terms less any clawbacks to date (so taking into account any cancellation and subsequent contract reinstatements).
 
You can set the system to calculate liability at a future date by setting the "premium reconcile date".
 
Reporting on clawback commissions
 
Clawback reports are available in summary (summarising the current exposure by adviser) as well as in schedule (detailing the calculation of exposure on a case by case basis).
 
You can access the clawback reports from the compliance management module (an optional extra).  Adviser list. > Reports. > New business. You can access the same reports from the main CCD reports screens. Administration > Reports > Commissions > Statements.