Note: The system setting, "Allow Agency EFT Commission Debits in File," (Billing / End of Period folder) must be set to "True" to use this function. Additionally, if an agency has the "Uses EFT for Commissions" field selected, you must set up an Agency Commission Debit account.
With Direct Bill if an agent owes commission to the carrier, the carrier wants to collect commissions immediately. When an agent is set up for EFT, this allows the carrier to sweep the agent's account for the amount the agent owes.
During End of Month Processing, when the Create Direct Bill Commission Statement runs (and the system setting is set to "True"), a record is placed into EFT records with a 27 or 37 Transaction Code and goes out in the nightly file. When the file is processed, the money will then be swept out of the agent's Agency Commission Debit EFT account.