provides an overview of commissions owed to trade partners for bookings. By generating these reports, tourism operators can accurately track and reconcile commissionable sales, ensuring transparent financial operations. This enables precise financial planning and informed decision-making regarding partner performance.
Accessing this feature
REQUIRES_DEVELOPER_INPUT - Navigation path to Trade Commission Reports needs to be verified and added here.
How to use it
Generating a Trade Commission Report involves defining specific parameters to ensure the data accurately reflects your requirements. Follow these steps to generate, review, and manage your commission reports:
Define Report Parameters:
Upon accessing the Trade Commission Reports feature, you are presented with a set of filtering options. These parameters are crucial for narrowing down the data to generate a relevant report:
Date Range: Specify the period for which you wish to generate the report. This could be a predefined range (e.g., "Last Month," "Current Quarter") or a custom date range using the calendar selectors for "Start Date" and "End Date." This ensures you capture all relevant bookings within a specific accounting cycle.
Trade Partner: Select one or more specific trade partners from the dropdown list. This allows you to generate a report exclusively for an individual agent, agency, or distributor, or for a group of selected partners. Leaving this field blank includes all active trade partners in the report.
Booking Status: Filter bookings based on their current status (e.g., "Confirmed," "Completed," "Cancelled," "Pending Payment"). Typically, commission is calculated on confirmed and completed bookings, but including other statuses can aid in reconciliation or identifying potential lost commissions.
Product Type: If your organisation offers various product types (e.g., tours, accommodation, activities), you can filter the report to include commissions for specific product categories. This is useful for analysing performance within particular market segments.
Commission Payout Status: Filter by commissions that are "Unpaid," "Paid," or "All." This helps in managing your payout workflow and identifying outstanding liabilities.
Generate Report:
After setting your desired parameters, click the Generate Report or Preview Report button. The system processes your request and displays the report data directly on the screen.
Review the on-screen report to ensure it meets your criteria before proceeding to export.
Review Report Data:
The generated report presents data in a structured table format, typically including the following columns:
Booking ID: A unique identifier for each booking.
Customer Name: The name of the end customer associated with the booking.
Product/Service: The specific item or service booked.
Booking Date: The date the booking was made.
Travel Date: The date the service is scheduled to be delivered.
Sale Value: The total monetary value of the booking before commission.
Commission Rate: The percentage or fixed amount agreed upon for commission for that specific booking or product.
Commission Amount: The calculated commission due to the trade partner for that booking.
Trade Partner: The name of the partner associated with the booking.
Payout Status: Indicates whether the commission for that booking has been marked as paid or is pending.
Export Report:
To save the report for external use, accounting, or record-keeping, use the export options:
CSV: Exports the data into a comma-separated values file, suitable for import into spreadsheet software (e.g., Microsoft Excel, Google Sheets) for further analysis and manipulation.
PDF: Exports the report in a print-ready format, ideal for sharing with partners or for official record-keeping where data integrity and presentation are key.
Update Payout Status (If Applicable):
If your system integrates commission payout management, you may have the option to mark individual commissions or entire reports as "Paid" directly within the interface. This updates the status in the system, providing a clear audit trail and preventing duplicate payments. Confirm any prompts before finalising payout status changes.
Save Report Configuration:
For frequently run reports with identical parameters, some systems offer the ability to save your chosen filter configurations. This allows for quick regeneration of standard reports without re-entering all parameters each time, enhancing efficiency.
Tips
Establish a consistent schedule for generating commission reports, such as monthly or quarterly. Regular review ensures timely identification of discrepancies, facilitates prompt payouts, and maintains current financial records.
Cross-reference your commission reports with your internal sales data and, where possible, with statements from your trade partners. This proactive reconciliation helps identify any discrepancies early, preventing potential disputes and ensuring financial accuracy.
Ensure all commission rates, partner details, and payment terms are accurately entered and regularly updated within the system. Incorrect data is a primary cause of reporting errors.
Process commission payouts promptly following the agreed-upon terms. Timely payments are crucial for maintaining strong, positive relationships with your trade partners and reinforcing trust.
Do not limit yourself to generating broad reports. Use the granular filtering options to analyse specific segments, such as commissions for a new product launch, a particular trade show period, or individual high-value partners. This provides actionable business intelligence.
Commission reports contain sensitive financial information. Ensure that access to these reports is restricted to authorised personnel only and that exported files are stored securely in compliance with your organisation's data protection policies.
Maintain clear, written agreements with all trade partners outlining commission rates, payment terms, and any other relevant conditions. These documents serve as a reference point for report verification and dispute resolution.
Develop a systematic approach to archiving past commission reports. This provides a historical record for financial audits, trend analysis, and long-term business planning.
Need help?
For further assistance, contact us at [email protected]