What is and how do I use Owner Comp?
Owner Compensations are for dues, products, etc. you want to record the price of on your Projection Sheet even though the original price amount has been adjusted/discounted. There are two places in the iGo Figure Software that you can use the Owner Comp. button. You can use this button to pay off a collection item or remove an item from Money Management.
Follow the steps below to compensate a customer on a collection payment:
- On the Checkout screen of Payments and Product Sales, click on Owner Comp
- Please select a reason for the owner comp from the pull-down menu in the pop-up window that appears.
- Add any additional Details and click OK.
- Type in the amount you wish to compensate your customer.
- Select the payment method used by your customer and type in the Amount Paid. Note: If there is still a Balance, you can use the Customer Acct. to put the remaining balance into collections.
- The Balance should now be $0.00. Select the Sales Person and click Next.
- You can now either Print the receipt or go Back To List.
You also find the Owner Comp. button in the Money Management Wizard. The only difference here is that you will not be able to specify an amount to compensate. Here, the button will compensate your customer for the full amount of the sale. To compensate a customer for the full amount of a payment in the Money Management Wizard, follow the steps below:
- From the Main Menu, click on Money Management.
- Click on Money Management Wizard.
- Select the member to whom you wish to give an item. Make sure the Total Selected amount no larger than that which you want to compensate.
- Click the Advanced button.
- Make sure nothing else is checked besides the one item you want to owner comp before you click Owner Comp.
- Click Owner Comp.
- A verification pop-up window appears. If you are sure you wish to continue, click OK.
- On the Owner Comp Reason window, select a reason from the pull-down menu.
- Add any additional Details you want and click OK.