Commission reconciliation is the process of matching commission payments from suppliers to bookings, tracking unclaimed commission, adjusting agent splits, and tracking payouts to your agents.
Prerequisites
You have admin access to your agency.
You receive commission statements from suppliers.
Agents have been reporting bookings to your agency.
Workflow
The commission reconciliation process follows these steps:
Log supplier statements: When you receive a commission statement, create a supplier statement in Tern with the payment details.
Match commission to bookings: Connect commission payments from the statement to existing bookings in your system.
Track down unclaimed commission: For commission that can't be matched yet, add it as unclaimed commission to track it.
Close supplier statements: Finalize reconciliation by closing supplier statements once everything is matched.
Add adjustments: Add bonuses, fees, or other adjustments to agent payouts as needed.
Process payouts: Create payout statements for agents when their commission is ready to be paid.
Each step links to a detailed guide that walks you through the process.
Agency Reconciliation Settings
Streamline your reconciliation process with standard commission rates and agency commission types.
Managing standard advisor commission rates: Set commission rates per advisor, and handle changes to splits over time.
Managing agency commission types: Provide alternate commission rates for overrides like personal travel and lead referrals.
Additional Resources
In addition to the standard workflow, these resources outline additional functionality related to commission reconciliation:
Identifying missing or overdue commision: Identify and export bookings with expected commission you haven't yet received
Splitting commission between multiple advisors: Use commission notes and adjustments to handle multi-agent splits.
For agents – Reporting bookings to your agency: Submit bookings for your agency reporting and commission reconciliation
Next Steps
Start with Logging supplier statements
FAQ
FAQ
Q: Does Tern know which suppliers pay commissions on specific booking types (like dining, excursions, etc.)?
A: Tern helps you track and reconcile commissions your agency receives from suppliers, but we don't maintain a directory of which suppliers pay commissions or what their commission policies are. For questions about a specific supplier's commission structure, we recommend checking directly with the supplier or your host agency.