This article is Step 4O of Understanding Accounting Integration - Control Accounts > Finance Commission Clearing  

To see all the steps of Understanding Accounting Integration, please review - Overview - Understanding Accounting Integration

Step 4 - Control Accounts - Finance Commission Clearing 

The relevant General Ledger that you should be mapping to this field should be an Account Type: Current Liability


We would recommend that it sits in the same section of your Chart of Account as your other Current Liability Clearing General Ledgers ie Sublet Clearing etc

Purpose of the Control Account - Finance Commission Clearing 

This Control Account will only kick in, if the Dealership is not getting paid their Finance Commission at the same time as the Customer's Finance is funded on a Unit Deal 

For example:

Customer is getting finance in the amount of $10,000 for the Unit Deal

Dealership is also entitled to be paid from the finance company their Finance Commission (as recorded on the Unit Deal) in the amount of $500

BUT this amount will not be paid at the same time as the $10,000 - it will be paid by the finance company at a later date in a separate deposit in the bank account

This means that the System Setting > Settings & Controls - Shop Settings - “Deal Finance Commission are included in funding” is not enabled or the Finance Vendor is not enabled to have the Deal Finance Commission paid at the same time as the Finance funding then 

In the above scenario:

  • This would mean you could still type the commission that is due in the finance section in Blackpurl BUT you would only fund the finance amount on the Customer Order > Unit Deal 

  • BP will send a journal to your accounting 

Debit - Finance Commission Clearing GL (as per what you have setup on the Finance Commission Clearing Control account) 
Credit - Finance Income GL (as per what you have setup on the Finance Commission Income Control account) 

  • Then when you actually receive the commission payment into your bank, you would allocate it to the Clearing account