Video Published April 2019
	This guide walks you through how to lodge expected revenue using the Lodgement Wizard in Compass. This is relevant for all PIS practices.

 

Lodgement Process

 This Guide provides a step-by-step guide on the lodgement process within COMPASS.

Lodgement Wizard

Follow the steps below:

Step 1. Once in the client record, click on the Client Menu options, navigate to Wizards. From the options provided click 3. Implement the Client > Lodgement Wizard.

Step 2. Enter a name for the lodgement. Click Create Scenario.

Note: Make sure you have a consistent naming convention to help with your record keeping. Suggested Naming convention: Document type and document date (e.g. SOA 20170619).

 Step 3. Complete the questions under Document Details.

Step 4. Complete the questions under Ongoing Service Agreement.

Advice Document Storage

Step 5. Complete the questions under Advice Document Storage.

• If you have already uploaded a copy of the Advice Document that contain details of the expected revenues to the Client Notes section, then please select Yes under the Advice Document Storage option, and skip straight to Step 12 - Lodge to CommPay.

• If you have not already uploaded a copy of the Advice Document that contains details of the expected revenues, select No in the selection dropdown box as per below. That will open the Document Files and the Document List to allow you to upload the document. Continue as per Step 6 onwards below.

Step 6. Complete Add in the Document List section of the page.

Step 7. Select Template in the top right of the Add Document Note screen that opens with the pop up screen below.

Step 8. Click on the Commission Lodgement folder.

Step 9. Select the Commission Lodgement – Mandatory Advice Document template.

Step 10. Open the Attachment tab to upload a copy of the relevant Advice Document.

Step 11. Click Save and Close. This will take you back into the Lodgement Wizard main page.

Step 12. Click Next in the wizard. This will take you to the Lodgement to CommPay page of the wizard.

Lodge to CommPay

 Step 13. Click Lodge under CommPay Policies.

To Lodge for Partner, click Lodge in the CommPay policies (Partner) area.

 Step 14. The CommPay Lodgement screen will appear,

 

Required questions in the Lodgement Details

To assist with simplifying this part of the process we have listed below the minimum required questions that need to be completed in order to progress:

• Adviser
• Account
• Client
• Status
• Policy Status
• Policy/Account Number *
• Category
• Supplier
• Product

These are highlighted in the image above for your reference.

* Please note although Policy/Account Number is not required, it is preferred. The exact Policy/Account number must be provided. This must match the provider number exactly, which may include dashes and spaces e.g. 123456 – 9.

The other questions are optional, however if you choose not to complete them this may affect your future reports.

Step 15. The Adviser will default to the adviser attached to the client. This can be changed if necessary by selecting another adviser from the drop down list.

Step 16. Account will automatically populate, however this can be changed if required by selecting another account from the drop down list. If this list is blank then the selected adviser does not have a commission account established within CommPay. This will need to be built by your CommPay Administrator in the CommPay back office.

Step 17. Please note the referral section is not mandatory. It is for full license COMPASS users and only for CRM purposes.

Step 18. Depending upon the Account selected, you may be able to select a specific Branch. Otherwise this list is blank.

Step 19. Set the Submission Date and Inception Date.

Step 20. Set the Status of the lodgement to Lodged if the business is proceeding, or Pending if it is yet to be confirmed.

Step 21. Select a Policy Status.

Step 22. Enter the Policy/Account Number. If not known at the time the Lodgement is raised then it can be updated at a later stage.

Step 23. From Category select the relevant option from the drop down list of Insurance, Platform, Fund, Loan or Fee for Service. The selection made here will customise the last few fields available on the screen.

Step 24. Select the relevant Supplier and Product from the drop down lists. Fee for service example.

Step 25. Type in a Description if required.

Step 26. If Insurance is selected from Category then Premium Amount, Premium Frequency and Premium Term fields will be displayed and can be completed.

• If Platform or Fund is selected from Category then an Investment Amount field will be displayed and can be completed.

• If Loan is selected from Category then Repayment Amount, Repayment Frequency and

Loan Term fields will be displayed and can be completed.

• If Fee for Service is selected from Category then Fee Net Amount and Fee Tax Amount

fields, will be displayed and can be completed.

Step 27. Leave the Commission Basis field blank as it’s not applicable.

Step 28. Click Save. The CommPay Add Estimate section will appear at the top of the page in a tab. This is not a mandatory option. Also the Revenue Estimates tab may appear. This tab should be disregarded.

Step 29. Click Save again. This will return to the Lodge to CommPay page of the wizard.

Step 30. Click Next. You will be notified that you have completed the Lodgement Wizard process.

Step 31. Your Lodgement submission is now complete.

 

Lodging multiple policies

If you have multiple policies to lodge, you do not need to create a new scenario if all policies are discussed in the same SoA which has already been uploaded. You will only have to complete the “Lodge to CommPay” steps for each new policy as you cannot lodge more than one policy in the same CommPay lodgement screen.

For example, if you were submitting a lodgement with several policies you should follow the steps below:

Step 1. Complete the Lodgement Wizard including attaching the SoA if required.

Step 2. Complete the CommPay Lodgement (Lodgement Details Screen) for client policy number 1 (Add Estimates tab is optional).

Step 3. Complete the CommPay Lodgement (Lodgement Details Screen) for client policy number 2 (Add Estimates tab is optional).

Step 4. Complete the CommPay Lodgement (Lodgement Details Screen) for client policy number 3 (Add Estimates tab is optional).