Holds and Releases FAQ

Not sure if you use holds and releases?

Is the commission that is generated from a deal paid out in portions over a period of time? Do your deals get paid out at specific events? If you think you use this functionality, contact SimplyComp support.

How do holds and releases work within SimplyComp?

The compensable report contains all the logic to calculate payments. The deals flow into the report, are mapped to payment rules, and generate payments just like deals that do not have hold and release logic tied to them. However, the payment timing configured in the mappings is set to "Hold". The calculated payments will not be released until told to in a lookup table.

CONFIGURATION

1. Imports/Data Setup plans, compensable events, lookup tables, and compensable reports as outlined earlier in this guide. Payments are still calculated in the same way, the only change is in payment timing.
2. Go to DATA > LOOKUP TABLES Create a lookup table. Name the table accordingly, and choose "Lookup Table" as the type.
3. What data should be imported into this lookup table? Your compensable report will look towards this table for the date the payment is released and the amount that will be released on that date. The lookup table uses lookup logic to match a field found on the compensable report to a deal within the lookup table. Best practice is to use the unique Order ID that was created during the compensable event import for this match.
   • Required Fields:
     • Deal ID - An identifier that connects the Release Table to the deal on the compensable report. Example: See Order ID example below.
     • Percent/Decimal of the amount being released
     • Date - the date(s) the release will happen.
4. Data Import Click into the Release Table that you created. Select to upload a CSV file, or manually enter the data into your table. If importing, remember that not every column in a report needs to be imported. Only the required fields are necessary to generate releases. Any other fields you choose to import are helping you identify the deal within this table (like deal name, type, owner, etc).
5. Make sure your payment rules are set to hold. Go to the Compensable report that contains the deals that need holds and releases as their payment timing. Click to create the mappings. Select Hold as the payment timing. The option to create a release report will appear. Create release reports for every date field triggering a release in your lookup table.
6. Run calculations for a period. This will populate your release reports with all deals to be held.
7. Configuring the Release Reports Go to DATA > the RELEASE REPORTS side tab. Select your release reports. Click the column titled "Release" and select Edit formula. This is where you tell the system how to process the releases. See below for an explanation.
8. Run Calculations. Holds and releases will take into effect.