Commission tracking and reconciliation is the manual process of receiving lender statements, reformatting data, cross-referencing loans, identifying discrepancies, and recording commissions in the accounting system.
Automation extracts commission data from multiple statement formats, validates each commission against the loan register in real time, flags discrepancies immediately, and prepares verified records for accounting entry. The result is same-day commission recording with discrepancy detection.
The full workflow, from trigger to completion.
Lender sends commission data via email, API, or portal. The automation platform monitors the inbox or API endpoint and triggers on new statements.
The automation parses the commission statement, extracts loan ID, borrower name, commission amount, and date, and reformats them to match internal standards.
The automation looks up each loan in the loan register (via API or spreadsheet) to confirm funding status and borrower details.
The automation compares the commission data to the loan register, flags duplicates, missing loans, or amount mismatches, and assigns a validation status.
Validated commissions are automatically created as journal entries or invoices with the correct date and amount.
The master commission ledger is updated with the new commission, status, and reconciliation date.
Any flagged discrepancies are posted with details so the finance team can investigate and contact the lender if needed.
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