[Account Owner] Adding Rep (or Advisor/Split) Codes
In This Article:
To give your firm the ability to internally designate that payments are assigned to a particular advisor, or in some cases split between different advisors, you can enable a Rep Code setting.
Whether you select a Standard or Advanced setup, the rep code will then display as a column on your Transaction Reports!
Here's how to get started:
1. Navigate to Firm Settings and select the Invoice tab
2. Select Standard, enter a character limit for the code (optional), require the code for all payment requests (optional), and click Save:
When enabled, users with billing permissions will see the rep code field when creating a one-time or subscription invoice and have the opportunity to enter their internal rep code:
For more options and flexibility in using a rep code, select Advanced instead of Standard, Add Limit(s) (optional), and click Save.
This will allow for selection of a specific advisor and their specific percentage when requesting a payment. If desired for even more customization, a percentage limit can also be added based on advisor attributes!
Basic setup (no limits added):
When requesting a payment, advisors will see an advisor selection drop-down menu listing all advisors in your firm's AdvicePay account as options for adding to the payment. (By default the advisor for the client will always be selected and cannot be removed.) The advisor will be able to manually enter any number under Split %:
Attribute-based setup (add limits):
Using an existing or new advisor attribute property, you can set up the advanced rep code to establish a maximum percentage allowed based on the advisor attribute assigned to them. You can add multiple limits based on different attributes/descriptors if desired!
For example, as shown in the screenshot above, you could designate that advisors who have an attribute added to their profile that designates them as "Standard" can only receive a maximum of 40% when splitting a payment. To make it easy for advisors or admins when requesting a payment, you can also select which attributes will appear next to each advisor's name in the drop down.
When requesting a payment, advisors will see an advisor selection drop-down menu listing all advisors in your firm's AdvicePay account, as well as the attribute descriptor if relevant:
(By default the advisor for the client will always be selected and cannot be removed.)
The advisor will not be able to enter a number for an advisor under Split % that is greater than the limit you set as long as that advisor has the designated attribute attached to their profile.
Inserting rep codes into eSign templates (if using HelloSign)
To auto-fill a rep code on contracts that are attached to payment requests set up with a designated rep code, you will want to add the following field to your template(s):
1. Place a Textbox field into the template
2. Under Assigned To select Sender
3. Under What text goes here? select Rep Code
When this contract is sent with a corresponding invoice/subscription that has a rep code entered, we will automatically pull in that rep code here!