Understanding Mid Month Offset on Commission

[TinasKitchen]

Mid Month Offset? They deducted some money from my account. What is that all about?

 

[pamperedbecky]

If you submitted shows from the 1st-15th of the month, you get paid on the 22nd. The offset is the deduction of this amount because you've already been paid for that. HOpe that helps.

 

[cmdtrgd]

It wasn't deducted. Your month end statement shows all the shows for the month and all the commission. You obviously have direct deposit which means you also got a mid-month commission. For accounting purposes, the mid-month info is in the main total, but since you already have that in your account, they deducted it from the main total to put the right amount in your account.For example, you earned $100 of commission on shows submitted before the mid-month deadline. That was put into your account. Then you earned another $200 in commission for the rest of the month. Your month end commission statement shows all that you earned in the month - $300. But, they don't want to pay you twice for the mid-month commission, so they remove that amount before depositing the rest. Make sense?

 

[Marg]

At the end of the month, your commission statement reflects the entire month.
Mid-month offset it the amount of commission you received mid-month.

So let's say that by the 15th, you submitted one show for $1000. Your 20% commission on that show was $200 and you were paid for that on the 25th (that's the day here in Canada for mid-month payments, it may be different in the US)
By the end of the month, you submitted two more shows, each for $1000. So your total commissionable sales for the month is $3000. Your total commission for the month is $600 (I'm just using the base 20% for simplicity and not deducting any insurance or anything like that).
So your month-end commission statement will read
$600 commission
$200 mid-month offset (the commission you were already paid for your show before the 15th)
$400 total deposit.
Hope this helps (and makes sense...lol)

 

[TinasKitchen]

Thanks Girls.. makes perfect sense!!

 

[klcpdm]

Direct deposit question

You obviously have direct deposit which means you also got a mid-month commission.

If you don't have direct deposit, do you only get one check at the begining of the month?

Thank you In Advance,

Leticia

 

[chefann]

Yep- no direct deposit, you'll only have one payday a month.

Since it's free at most banks, it's worth looking into it. Sure is nice to have that in the account twice.

 

[lacychef]

Sure is nice to have that in the account twice.

Hey, nice rhyme Ann! I've loved it since they added the mid month payment

 

[chefann]

Ha! I didn't even notice that I rhymed.

I'm getting a little stir-crazy here at work today.

 

[tlennhoff]

Thanks Girls.. makes perfect sense!!

You were so smart to ask. I wondered what was happening but neither thought to ask here or call HO. On the 6th reading of the statment I finally figured it out - that was like 2 days ago.