What is the Best Software for Tracking Your Commissions?

[rousemark]

That is simple & easy. However, long term, will not give me a good way to look at numbers in a detailed way from a month, quarter, year over year point of view.

Oh, it can be done but I was joking and not really recommending it. .. I started when even Home Offices did not use computers..They used to talk about the comptroller for National Life and Accident would add a page full of 7 column figures in his head faster than a clerk could enter them on an adding machine with amazing accuracy..

 

[foxmarble]

I met a custom software developer a few years ago and he built a commissions forecaster for me. I was using a spreadsheet and it was getting out of hand. Over the last couple of years it has matured into a full blown commissions forecasting and accounting system with an amazing CRM. He has several agents as customers that have from 800 to 2000 policies. Since it is custom he is there to add any type of commissions structure encountered, such as the new calendar year renewals. The software is affordable and targeted for independent agents. This software has helped me grow my business and I use it and depend on it every day. His website is Agent Relationship Manager

Lynn

 

[medsuptage]

Agent Relationship Manager

Lynn

It's only 1,200 dollars? where do I send the check?

 

[foxmarble]

His name is Jeff Johnson and his email address is [email protected]. I'm sure he will get back to you quickly.

 

[Jerard]

His name is Jeff Johnson and his email address is [email protected]. I'm sure he will get back to you quickly.

I'm sure he would for 1,200 bucks. But I suspect he was being facetious.

However, in learning from the Uplines I thought I would insert a shameless plug of my own spreadsheet.

 

[5150]

I use Racing Snail. Originally designed for State Farm agents, it now supports indy agents. Lets you create simple or complex commission plans for your staff. I use about 75% of the functionality. It is certainly flexible. It does have some limitations, but overall it is a great online solution, especially if you have a team of salespeople that you have to pay...

Just google Racing Snail.

 

[mariomp]

I am so glad I found this forum. Thank you for all the info you all are sharing.

My wife sells medical advantage plans (medicare and medicaid) as independent agent. I don't know anything about it other than trying to help her keep track of her sales, commision and residuals.
I own my own unrelated business but none of the tools I use, except for QB in a convoluted matter are really applicable to what she needs.

As I understand it this is how her business works:
1. She gets a list of leads or goes to community centers, etc.
2. Once she makes contact with a prospect and signs them up, she transmits a form to the company she sells for.
3. Sometime later she gets paid.
4. About a year later and each year thereafter she gets residuals for current clients.

I need to figure out a way to track which policies she got paid for during initial sale and for residuals, so points 3 and 4 from above.

She does not need to keep detailed CMR as she's not allowed to contact clients and especially ex-clients.

She only needs to have basic info like name, birthday and possibly medical card ID so she can cross reference that info with payout statements.

Things got more complicated this year as her company changed payout structure.
I used to be that she would get paid full commision once policy went into effect, be it ~30-45 days after enrolment or after 1st of the year, post open enrollment.
Now she's getting her commission in chunks, and I think it's spread quarterly if memory serves right.

I am going to play around with the Excel sheet that Jerard graciously posted, but wanted to know if anyone knows of any software that may be better suited to my wife's tasks.
Everything I've seen so far has been fairly expensive with monthly fees or yearly 'support/maintenance' schedule. Most software is targeted at multi person/location businesses with multiple providers and way more details about clients, forms, payment methods, etc. than what my wife needs.
Right now she probably has 300 sales so doing it by hand is realistically out of the question.

Thanks in advance for any/all help and guidance.

 

[Newby]

And ACT database can be purchased online or office stores. It's very good and not expensive.

 

[Mr. B]

Hey Bill, Here is a copy of a spreadsheet that was posted on the forum.

 

[Jerard]

Hey Bill, Here is a copy of a spreadsheet that was posted on the forum.

Whoa....don't download this one, it's old. The latest is 5.2 and accessible from my sig or from this thread.