Investwell can be used to pay your Sub-Brokers. Go to Backoffice > Payout Rate Settings (Standard)
In the Standard Payout Rate Settings screen
- Enter the Category of Broker (A, B, C or D)
- Enter the date the you have to payout brokerage from.
- Enter the Brokerage rate that you have agreed to pay to your Sub Brokers.
Brokerages are of 6 types in InvestWell
- Additional Upfront - Extra commission usually associated with B-15 cities
- Annualised - First year Trail
- Trail - After first year trail
- SIP Incentive
Choosing the Checkbox would Overwrite the existing rates with the rates mentioned with effect from the given effective date.
Press the Add Rate button.
Press View Existing Rates button to view what rates have been entered. Suppose you have 4 brokers of A Category. This would record whatever percentage you have entered for each broker as a Discount to what you get.
If you have made a mistake you can mark these individual entries and press delete button at the bottom of the screen.
For B Category Sub-Broker you may enter and add different rates according to your arrangement with the Broker.
You can also have a specific payout rate for a specific scheme. Go to the Payout Rate Setting (Scheme) option in Backoffice menu
Under Payout Rate Entry screen
- Chose the Fund name.
- Choose the Scheme that you want to set the payout rates for.
- By default category will be T 15 ( Top 15 cities).
- Enter Time period
- Press SHOW button
For Example -
For All Equity schemes of T15 category of Axis mutual fund you can set the payout rates as below press SAVE button.
To view or modify the entries that you have already made, go to the next tab called Payout Rate Modify.
Here you can simply
- Enter the Period Date
- Check mark the Brokerage type that you wish to see
- Choose Category Type. By default it is T 15
- Scheme Group like is optional
- Hit Show button
After marking the schemes in the results page you can do the following -
- Export selected schemes without payout rates. So that you can enter in excel on your own
- Export selected schemes with payout rates. So that you edit the rates that you want.
- Delete selected schemes rates.
To recap, here you can modify the existing rates by
- Export to Excel
- Edit the rates in the excel format provided
- Go to the next tab called Payout Rate Upload to upload the edited excel sheet.
In the next tab called Payout Rate Upload
- Click on the three dot button to open up the windows explorer so that you can choose the edited excel sheet to upload in to InvestWell.
- If the sheet that you have to upload is not Sheet 1 in the Excel Workbook you can choose the sheet number that has the edited rates in the given format.
- Click Load File button
- Hit IMPORT button