Where's my commission?
What Caprastacks is, and the story of one indenting deal: a buyer's question, the order, the LC, the ship, and your commission, which always comes last.
In 3 points
- 1 What an indenting agent does, in plain words.
- 2 The six steps of every deal, each with its own colour.
- 3 How the app makes sure you get paid for every deal.
Chapters
Press one to jump thereRead the words
Welcome to Caprastacks (0:00) Hi, and welcome to Caprastacks. Caprastacks is a set of business apps. Selling, buying, stock, making things, and more. They all share one set of books, so every number agrees with every other. In these videos, we'll learn one of those apps: Indenting.
You, the indenting agent (0:15) Right now, a ship is crossing the sea with your money on it. It just doesn't know it yet. You never owned the goods on that ship. You never will. You did something harder. You brought two people together. A seller far away, and a buyer close to home. In this trade, the seller is called your principal. And you are the indenting agent. For bringing them together, a small share of the deal is yours. Your commission.
The enquiry (0:40) It all starts with a question. A buyer asks: "How much for twelve thousand metres of copper cable?" That's the enquiry. You ask your principals. Three prices come back. You put them side by side, and send the best one to the buyer.
The order and the LC (0:55) The buyer says yes, and places the order. That's the indent. Then the buyer's bank opens an LC, a letter of credit. It's the bank's promise to pay the seller, once the shipping papers arrive. And the goods set sail. Everyone's happy. The buyer gets the cable. The seller gets paid.
Your commission comes last (1:14) And you? Your commission comes last. Often late. Sometimes in parts. Sometimes short, because the bank took tax and charges on the way. And in dollars, while your books are in your own currency. Nobody's going to remind you. Across ten deals, it's easy to lose track of what you're still owed.
What Indenting does (1:33) That's what Indenting is for. Every deal follows six simple steps, each with its own colour. Enquiry. Offer. Indent. LC and payment. Shipment. Commission. Every paper stays with its deal. When the goods ship, the app works out your commission from what actually shipped. Then you send a commission note, to ask for it. When the money lands, you tick what it pays. Short? The rest stays open. Bank took tax? That's recorded too. Rates moved? The app works out your exchange gain or loss.
Every morning (2:03) And every morning, one screen tells you what needs you today. You even decide how strict the app is: a gentle warning, or a hard stop. So, remember that ship? Now you know exactly what's on it for you, and when it's paid. You did the hard part. You found the deal. Now let's make sure you get paid for it. In the next video, we'll set up Indenting in four quick steps.