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Paylogic Integration with AdviserLogic
PayLogic offers a powerful, streamlined solution for managing Financial Advisers' & Mortgage Brokers payments, revenue streams, and financial reporting. With seamless integration into AdviserLogic, PayLogic provides financial professionals with the tools to efficiently manage payouts, track revenue, and ensure compliance—all within one platform.
Overview
The PayLogic dashboard offers an intuitive and interactive interface, allowing users to manage both upfront and ongoing payments. It also tracks how much the licensee has retained, giving a clear breakdown of the entire payment process. With features like product payment streams and calendars, PayLogic allows users to track when product providers make payments and when statements are uploaded.
Setting Up Adviser Groups
One of the core features of PayLogic is its flexibility in managing adviser groups. Whether users are managing corporate authorised representatives (CARs) or salaried advisers, PayLogic allows easy setup and configuration. The platform supports a range of payout models, including:
Fixed Splits – Consistent percentages where a set portion of revenue goes to advisers, and the rest to the licensee.
Tiered Splits – Payout structures that adjust based on different revenue thresholds, allowing for more tailored compensation plans.
Fixed Fees – Recurring fees (e.g., dealer fees) that automatically flow through each payout cycle.
Managing Revenue Sources and Payouts
PayLogic simplifies the management of revenue streams by offering comprehensive tools for handling product providers and revenue statements.
Users can upload revenue statements, map adviser codes, and drag and drop zip files from providers. The system also supports automatic processing of zip files protected by passwords, streamlining the statement upload process.
The platform automatically generates Recipient Created Tax Invoices (RCTIs) for each payout, ensuring complete transparency and accuracy. These RCTIs can be automatically sent to advisers or CARs, depending on the group settings.
Seamless Integration with AdviserLogic
One of PayLogic’s standout features is its seamless integration with AdviserLogic. When a payout is processed in PayLogic, all transactional data flows directly into AdviserLogic, ensuring that all financial data is accurately reflected in the system. This integration helps users manage adviser earnings, client payments, and compliance requirements, significantly reducing the administrative burden.
Reporting and Reconciliation
PayLogic offers a robust suite of reporting tools, allowing users to generate reports on payouts, licensee income, and product performance. Reports can be customised by timeframe—whether for a week, month, quarter, or year—and exported in Excel or PDF formats.
In addition, PayLogic includes a bank reconciliation feature, which allows users to upload bank statements and manually match credits to revenue statements. This ensures that financial records are accurately reconciled, further enhancing transparency.
PayLogic, with its comprehensive features and integration into AdviserLogic, is an invaluable tool for financial professionals. It simplifies the management of adviser payments, automates revenue tracking, and ensures compliance with financial regulations. With customisable reports, flexible payout options, and seamless integration, PayLogic is a highly efficient solution for any financial practice looking to optimise its operations.