Advantage Systems launches second generation of Commission Calculation Module in Accounting for Mortgage Bankers softwareMortgagePress.comAdvantage Systems, AMB, Commission Calculation Module, Accounting for Mortgage Bankers
Advantage Systems, a provider of accounting and contract
management tools for the mortgage and real estate industries,
announced the release of its second generation Commission
Calculation Module for its Accounting for Mortgage Bankers (AMB)
software.
The enhanced, user-friendly module provides mortgage lenders in
both retail and wholesale environments with greater flexibility to
define how commissions and bonuses are calculated. The new module
takes advantage of the loan-level accounting capability of the AMB
software to minimize input and provides a higher level of
confidence that commission calculations are correct because the
accounting system generally receives greater scrutiny than other
systems.
Advantage Systems launched its first Commission Calculation
module in 2003 and has consistently enhanced that module to meet
the varied needs of its clients. This second generation of the
module goes even further by adding the following:
• An algebraic formula approach that enables users to more
easily visualize the commission they are calculating.
• An expanded list of fields on which to base commissions.
In addition to loan type and product available in the original
offering, the module has been expended to include more fields from
the borrower record such as lead source, marketing channel and lien
position.
• More flexible user profiles that can be shared and
modified. For example, short-term sales contest profiles are easy
to implement and manage.
• The ability to use different calculation tiers within
the same user profile. For example, one tier might be used in the
calculation of the commissionable amount while another is used to
tally the final commission.
"Five years of deploying and implementing our first generation
module at numerous client sites gave us the unique insight we
needed to complete the updated Commission Calculation Module," said
Brian Lynch, president of Advantage System. "The menu-based
functionality, algebraic style and depth of options available of
our Gen2 module satisfy almost any potential calculation, without
custom programming, for most wholesale or retail mortgage
organizations. The labor savings are significant in companies with
complex commission structures."
AMB is an accounting system that was specifically designed for
mortgage bankers to provide loan-level detail of accounting
transactions. The system provides general ledger, accounts payable
and report writing capabilities. A Web-based reporting module is
also available for branch managers.
For more information, visit www.mortgageaccounting.com.
