Commissions
Overview
Section titled “Overview”LAMS automatically calculates producer commissions on every policy transaction. Commission rates are configured per producer and per product line. This page explains how commissions work, how to track them, and how to generate commission reports.
How Commission Is Calculated
Section titled “How Commission Is Calculated”For each policy transaction, LAMS calculates:
- Gross Premium — The total premium charged to the insured.
- Commission Amount — A percentage of the gross premium, based on the producer’s rate for that product line.
- Commission Retained — The portion held by the agency.
- Commission Paid — The portion paid out to the producer.
- Net Due to Carrier — The gross premium minus commission.
The default carrier commission rate for Lawyers and Miscellaneous lines is 25%. Other product lines use rates configured by your administrator.
Viewing Commission for a Policy
Section titled “Viewing Commission for a Policy”Booking entry detail screen showing commission retained, commission paid, and net due line items
Commission detail is visible on every booking entry. Open any policy’s Accounting tab, then open the booking entry to see the full commission breakdown.
Tracking Producer Account Balances
Section titled “Tracking Producer Account Balances”Producer Account Balance smart table showing producer names, total policies, commissions earned, and outstanding balance
Use Accounting > Producer Account Balance to see a running balance for each producer:
- Total commissions earned this period
- Amount already paid
- Outstanding balance due to the producer
Commission Reports
Section titled “Commission Reports”Commission reports are available from Reports > Commission Reports:
| Report | What it shows |
|---|---|
| Commission by Producer | Total commission per producer for a date range |
| Commission by Product Line | Commission breakdown by line of business |
| Commission by Period | Monthly, quarterly, or annual totals |
| Outstanding Commissions | Commissions earned but not yet paid |
Export any report to Excel for producer payment processing.
Commission Structure Configuration
Section titled “Commission Structure Configuration”Commission rates are configured by your administrator in Administration > Commission Structure. Each producer can have different rates for different product lines.