|To set up fund based renewal commission, firstly locate the client and holding within the Clients module and navigate to the Commissions section:|
Ensure that the Renewal commission basis field has been completed with the appropriate type of commission. Now use the Renewal tab to enter the commission:
Complete the fields as necessary. 0.5% would be input as 0.005. Also, if 0.5% per annum is being paid but on a monthly basis, the amount recorded in the '% of fund/period' field would be 0.5% divided by 12.
Once finished, the screen should look like this:
This is the Fund Based Renewal set up, the commission will now need to be posted for it to be available to reconcile.