What is agent commission in SAP FS-QUO - SAP Quotation Management?

SAP Term: agent commission

• Component: FS-QUO

• Component Name: SAP Quotation Management

• Description: A fee paid to an agent as a percentage of the policy premium that he or she has sold.

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• Key Concepts: 
  Agent commission is a feature of SAP Quotation Management (FS-QUO) that allows users to set up commission payments for agents who help to close sales. It allows users to define the commission rate for each agent, as well as the payment terms and conditions. The commission rate can be based on a percentage of the total sale amount, or a fixed amount. 
  
  How to use it: 
  To set up agent commission in SAP Quotation Management, users must first create an agent master record. This record contains information about the agent, such as their name, contact information, and commission rate. Once the master record is created, users can then assign it to a quotation. When the quotation is accepted, the agent will receive their commission payment according to the terms and conditions specified in the master record. 
  
  Tips & Tricks: 
  When setting up an agent master record, it is important to ensure that all of the necessary information is included. This includes the agent’s name, contact information, and commission rate. Additionally, it is important to ensure that the payment terms and conditions are clearly defined in order to avoid any confusion or disputes later on. 
  
  Related Information: 
  For more information on setting up agent commissions in SAP Quotation Management, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SAP_QUOTATION_MANAGEMENT/latest/en-US