A correction is done in the current period when commission was allocated to the wrong Product Agreement and/or Responsible Partner in the past.
If the commission was paid incorrectly in the current period, you need to change the Product Agreement and/or Responsible Partner instead of doing a correction.
You can follow the following link for the necessary information to do a change.
To do a correction, you must do the following:
Go to Products
Use the filter to look up the Product Number to be corrected and click on the pencil
Scroll down to the Product Commission
Select the incorrectly allocated commission that needs to be corrected in the current period and click Correct
You need to complete the following information and then click Reverse and Correct
Reversal Date – The date on which the correction must take place
Agreement – The new Product Agreement for this Product Number
Responsible Partner – The new Responsible Partner
The correction will reflect on the Statement tab
You need to Deallocate and Link the statement(s) that was loaded after the date of the correction so that the new Product Agreement will be implemented (In this example after 2021-02-01).
Allocate all the statements that are Ready
The new Product Agreement is also added automatically with the new Valid From Date (in this example 2021-02-01)
