A monthly commission statement is the clean hand-off to your accountant: per-partner payable amounts with GST and TDS-194H context, tax details or a MISSING flag, in Excel or CSV. Finocket computes and locks it; your CA executes the payment and you record the reference.
How does a commission become payable?
Three stages, all automatic. Accrued — when a referred client's payment is actually collected (never on invoicing, never on clicks). On hold — the accrual waits out the program's hold window, your refund buffer; a refund in that window claws the commission back with a mirroring ledger entry. Payable — the hold expires and the amount joins the payable-now balance. Flagged accruals (like self-referrals) stay out of payable until the owner approves them, and the payable-now card warns you about pending reviews and partners with missing tax details before you build anything.
How do I build the monthly statement?
- Open Partners → Statements (owner-only).
- Check the payable-now card — it surfaces tax-missing partners and unresolved review flags so you can fix them first.
- Pick the period (a month, e.g. 2026-07) and Build draft. The draft totals what the ledger says is payable for that period.
- Download as Excel or CSV — numbers stay numeric in Excel so your CA's formulas work.
- Finalize to lock the period. Finalizing requires the statement to reconcile to the ledger — a draft that doesn't add up cannot be locked.
- After your CA pays each partner, Mark paid with the payment reference (UTR/cheque number). That writes the payout into the ledger — recording reality, not moving money.
What does each row carry?
Partner name and currency; accrued, on-hold and payable amounts; tax details on file — PAN (India), ABN with GST-registered flag (Australia), or US tax ID — or a clear MISSING flag; GST context where the partner is registered; and the India TDS-194H annotation so the deduction isn't missed. The page also shows annual earned-vs-paid totals per partner — useful at year-end for TDS certificates or, for US partners, the 1099 conversation.
Who does what?
Statements are owner-only — building, finalizing and marking paid all require the workspace owner. Your CA receives the file (download it or share via your normal hand-off), executes the payments from the business bank account, and gives you the references to record. Accountant logins in Finocket read the data but don't build statements. In the sample-data sandbox, building statements is refused — statements are always real.
What are the partner tax downloads?
Three buttons on Commission statements produce the working papers your accountant asks for, computed straight from your commission ledger with your business as the issuer and each partner's tax details attached: a TDS 194H sheet (India) withholding at your workspace's configured TDS rate (2% unless changed), a Recipient-Created Tax Invoice per partner (Australia) for the amount payable this period, and a 1099-NEC sheet (US) for the calendar year that flags which partners cross the reporting threshold. Finocket does the arithmetic; your accountant owns the filing.
Paying the money out stays outside Finocket by design — there is no payout gateway wired in, and nothing moves funds. The statement and tax sheets are the hand-off.
Why is a partner on the statement but not being paid?
A statement shows both numbers: what it will pay this period, and what it is holding back. Every held-back line says why, in one of a few ways:
- Under the minimum payout — your program sets a minimum, and this partner has not reached it yet.
- Suspended, or the partnership has ended — the money stays theirs, it just is not sent while that is true.
- Tax details missing — nothing is paid to a partner whose PAN or bank details you do not hold.
- Waiting for the partner to approve — only if you have asked for partner sign-off on the figures.
Held-back money is not lost, and it is not tracked separately. It stays payable and simply appears again on the next statement, so a partner who crosses the minimum in March is paid for January and February too.
Finalizing says the figures changed. What now?
Build the statement again and look at it. This means the commission ledger moved between the moment you reviewed the draft and the moment you clicked finalize — a payment came in, a refund clawed something back, or someone recorded an adjustment. Finocket shows you both the number you reviewed and the number it now sees, and refuses rather than quietly recording the newer one, because the figure you approved is the one that should reach your accountant.
Once finalized, the figures are locked. Marking the statement paid uses exactly what was approved — so if a partner is suspended in between, they still receive what you signed off.
Related: Partners & commissions, Invite your CA.