Once the Brokerage Feeds are uploaded and Earning Rates are input the next job is to do a Reconciliation.
For Upfront Reconciliation you must first update the Earning Rate into the respective transaction. Go to Backoffice Menu > Earning Rate.
- Select Category T15 or B15
- You can do this for one Fund or one Scheme at a time or you can do for the entire lot
- Click on Show Rates button
- Select all the rates
- Hit Update Transactions button
Repeat the process for your B15 schemes
- This will apply all the rates that you have input with effect from whichever date into the respective transactions
- If you just want to view the rates you could just export it to Excel
Once the Earning Rates are updated Go to Backoffice Menu > Upfront Reconciliation
Choose Fund, Scheme, the desired Period of transaction and click Show button
You will find that whatever schemes that you have invested in it will show you the Receivable rate and Amount and compare it with a Received rate (from the AMC) and Amount.
If there is any additional Upfront that will come.
If there is a Gap in Receivable and Received then it will show in the Gap column
This comes along with the City category and any applicant name or anything that is there to identify the transaction
We also show you the Original Transaction type in case there is a change in Broker you may not get the commission. You need not be Surprised.
In Summary, based on the Earning Rate that you Input it will multiply with the amount to give the Receivable commission. This is compared with the actual Received and give you the Gap.
Before we do Trail Reconciliation we must do Trail Calculation.
Calculate Trail based on your Earning Rates and your set of Transactions for the relevant period.
Select Fund and Period (We recommend that you choose month to month)
You need not do Loading of Folios and choosing of Schemes, just choosing the fund is enough.
Click Calculate Trail, depending on your data this may take a few minutes.
Now Go to Backoffice > Trail Reconciliation
Select same Period
Select same fund
Then hit Show
This will show you all the Receivable Trail as per the amount which is outstanding for the month and against which it will show you the Avg Asset and Received trail and the Gap
In the first purple column the DailyFeed Amount is just the Transaction amount. You get Trail from Avg. Asset.