Agent Commission Reconciliation for Tour Operators

, , ,

Agent commission reconciliation is a part of the general administration work you’ll often have to do to run your business.

You need to reconcile these accounts regularly, and continue to monitor it to make sure it matches up with your accounting records.

From your agents’ point of view, your commission is one of many other suppliers that they need to reconcile. They may have staff internally whose job it is to do this – spending up to 20 hours per week doing so!

If you don’t have software to help, it can be tough. That’s because your agent may say, “I sent you 5 bookings” but 2 of them cancelled. They then expect 5 payments and get only 3, coming back to you demanding more.

It’s a pain on both ends – your agents don’t want to deal with it, and neither do you. Automating the commission reconciliation process helps both sides save money because the numbers are more accurate, and staff can be more productive.

Lucky for you, Rezdy can handle all of it for you with our Commission Reconciliation Report. Here’s an example of how that looks:

Commission Reconciliation

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:

Commission Reconciliation details

In the Commission Reconciliation Details Report, you can filter your data based on agent, time of order, and whether it is unreconciled or reconciled.

Once you’ve received payment for an outstanding balance owed to you from an agent, you can click on “Reconcile All” to mark the orders as paid.

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.




commission reconciliation




What’s Next?

 

Agent commission reconciliation is a part of the general administration work you’ll often have to do to run your business.

You need to reconcile these accounts regularly, and continue to monitor it to make sure it matches up with your accounting records.

From your agents’ point of view, your commission is one of many other suppliers that they need to reconcile. They may have staff internally whose job it is to do this – spending up to 20 hours per week doing so!

If you don’t have software to help, it can be tough. That’s because your agent may say, “I sent you 5 bookings” but 2 of them cancelled. They then expect 5 payments and get only 3, coming back to you demanding more.

It’s a pain on both ends – your agents don’t want to deal with it, and neither do you. Automating the commission reconciliation process helps both sides save money because the numbers are more accurate, and staff can be more productive.

Lucky for you, Rezdy can handle all of it for you with our Commission Reconciliation Report. Here’s an example of how that looks:

Commission Reconciliation

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:

Commission Reconciliation details

In the Commission Reconciliation Details Report, you can filter your data based on agent, time of order, and whether it is unreconciled or reconciled.

Once you’ve received payment for an outstanding balance owed to you from an agent, you can click on “Reconcile All” to mark the orders as paid.

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.




commission reconciliation




What’s Next?

 

Topics , , ,

Join over 30,000 tour and activity professionals on Rezdy

Simon Lenoir, Founder and CEO of Rezdy Online Booking Software
About Simon Lenoir

Simon has over 15 years’ experience as an IT professional. He also has extensive experience in the travel industry from being an around-the-world traveller and managing a dive centre in Southeast Asia for over 3 years. Simon is now dedicated to providing the best online booking solution for tours and activities operators; he is the brains behind Rezdy.Outside office hours Simon is a true activity addict – mountain biking, sailing, swimming, beach volleyball – just to name a few. But most of all he loves diving in Australian waters.

Comments are closed here.