The CommPay module provides a reporting portal for the revenue processed by your AFSL via CommPay Back Office.
After each pay run, reports can be run to reconcile the payment received. The 2 main reports you will need is the Recipient Created Tax Invoice (RCTI) and the reconciliation Report.
In addition to this there are various other reports as well as searches available.
To access Commpay click XPLAN – Administration Functions – CommPay
The CommPay menu will appear on the left. The menu items available may vary depending on your log in capabilities.
Generating the Recipient Created Tax Invoice (RCTI)
From the CommPay menu click Reports
A list of various reports will appear.
Click on the magnifying glass next to Recipient Created Tax Invoice
From here, you can choose a range of options on how you’d like the report to displayed.
Choose the period you’d like to run the report for
Select the Adviser and Account you’d like to run the report for (generally you can leave this to the default setting)
You also have the option to include the Adviser Reconciliation Report but this will then generate in PDF. If you’re happy with this then great select Detailed in the drop down. However a lot of advisers prefer this in excel. If that’s the case you’ll need to run it separately (I’ve included instructions further on)
Once you have selected the filters you’d like click OK. The report will generate and appear in the notification envelope.
From the Report menu click the magnifying glass next to Adviser Reconciliation Report
From here, you can choose a range of options on how you’d like the report to displayed.
Report Type Standard or Detailed (Detailed is recommended)
Group By Main Revenue Type or Revenue Type. Main Revenue Type is Upfront, Ongoing and Fee’s. Whilst Revenue Type is the next level down ie trail, ASF, Renewal, New Business etc. This is a personal preference so set as you wish.
Supplier Amount Net or Gross, so GST exclusive or Inclusive (Gross is recommended)
Report File Type – (Excel Unformatted is recommended)
Choose the period you’d like to run the report for
Select the Adviser and Account you’d like to run the report for (generally you can leave this to the default setting)
There are also additional options you can select, recommend leaving these blank unless required.
Once you have selected the filters you’d like click OK. The report will generate and appear in the notification envelope.
The reporting menu has many reports which may suit your individual business needs.
However if you are unable to locate a suitable report, this is where the Searches are beneficial.
On the CommPay Menu you will see Transactions.
This section allows you to search for transactions process in CommPay Back Office using an array of filters.
Click on Transactions to bring up the filtering options:
You can filter on a specific Supplier (Product Provider), revenue types, clients and/or policy number just to name a few.
The Group By filter allows you to chose how the data is grouped once you export it eg do you want to see just the Account and Supplier? Or would you like to see Account, Supplier and Revenue Type? If you leave the Group By set to (none) you will get all the information available.
The Searching Period filters allow you to set the period you’d like to report on. For example:
· If you’d like the report to run for just 1 payrun choose ‘Specify Payment Period’ then choose the payrun.
· If you’d all payruns over a 3 month period, choose ‘Specify Payment Period Range’ then choose your start and end payrun period dates.
Once you have set your filters, click Search on the top right
Your search Results will appear at the bottom on the screen
On the top rigt click ‘CSV’ to export your data into excel
The extract will generate and appear in the notification envelope.