As a tour operator, you know just how important agent commission payments are. After all, they are working on your behalf and they are running businesses just as much as you are so they need to be paid for the work they do.
Commission agreements is what matters most to agents, because it’s how they get paid.
Here are some quick hacks you can use to get the most out of the agent commission agreement features available in Rezdy.
Reconciling the commission you pay to your agents is all part of the regular bank reconciliations you’ll be doing for your business.
You need to reconcile these accounts regularly, and continue to monitor it to make sure it matches up with your accounting records.
Lucky for you, Rezdy can handle all of it for you with our Commission Reconciliation Report. Here’s an example of how that looks:
You can see outstanding commissions at a glance, and there’s no need to manually check through all your bookings to see which ones made it through. Staff on both ends can now work on more important tasks.
To view a Reconciliation Report for a particular agent, click on the Reconcile button listed under the Action tab in your Report for the agent of choice. This will list all the orders that you have to reconcile with the agent.
Before it’s finalized, the system will double-check with you what you’re about to reconcile. All you have to do is click “Reconcile Now” to confirm.
There are 2 ways that you can make your agent commission payments:
Rezdy started out with the percentage option, but you can now sell your tours and activities at a net rate if you want to!
Percentage commission is pretty obvious – you nominate a percentage (say 20%) of each sale’s value that comes off the top of the sale amount goes to the agent. In this instance, if an agent sells your activity for $100, they get $20 and you get the remaining $80.
Net commission is where you specify the amount you want to get from each sale, and the agent adds as much commission as they want on top. If you want to make $100 from each sale, one agent could sell your activity for $101, and another could sell it for $150 if they think they can realistically sell it for that much. In both cases you get the $100.
We believe it’s better for budgeting to make your agent commission payments using the net rate because you know how much you will make from each sale.
This is now part of the Agent Setup.
Another recent addition to Rezdy is the option to include or exclude extras from your agent commission payments. Extras usually take the form of additional payments you can elect to make on top of the agreed-upon commission rate for a temporary period. You might choose to do this to incentivize a particular agent to sell more of your activity.
This is also part of the Agent Setup.
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