Has anybody had this happen on my premium charges weekly update it is showing that my total amount i have paid in Premium charge up until is lower than last week?
This also seems to have affected my Total Charge % which obviously has an affect going forward
Premium Charge - Historical number lower than last week?
- jamesedwards
- Posts: 2486
- Joined: Wed Nov 21, 2018 6:16 pm
I think the 'Premium Charges' value listed is not the actual total PC paid, it is the calculated total PC assuming you have always been charged at your current rate. Have you crossed PC bands perhaps?buyshirts wrote: ↑Mon Oct 03, 2022 6:37 pmHas anybody had this happen on my premium charges weekly update it is showing that my total amount i have paid in Premium charge up until is lower than last week?
This also seems to have affected my Total Charge % which obviously has an affect going forward
Did you trade a market that settled first hour on Monday? The week is based on GMT, starting 01:00 BST, which sometimes causes confusion.
- jamesedwards
- Posts: 2486
- Joined: Wed Nov 21, 2018 6:16 pm
- jamesedwards
- Posts: 2486
- Joined: Wed Nov 21, 2018 6:16 pm
I don't think that number is the same as total PC paid. That number is the assumed PC charged based on if you have always been at your current tier, and is used to calculate the PC owed for that week. eg if you moved from 50% to 40% the number would drastically decrease and vice versa.
Try this, James - viewtopic.php?p=283109#p283109.
It isn't. The only way you are going to know what you have paid in cash in PC charges is to look back through your transaction history and to keep an ongoing record.jamesedwards wrote: ↑Wed Oct 05, 2022 12:35 amI don't think that number is the same as total PC paid. That number is the assumed PC charged based on if you have always been at your current tier, and is used to calculate the PC owed for that week. eg if you moved from 50% to 40% the number would drastically decrease and vice versa.
Commission (should equal Commission generated from wins and theoretical commission from losses)
Other Charges (should equal a nominal top up when you move from 20% rate to a higher rate)
Premium Charges (should equal what has been paid in cash, but it also includes the initial £1k allowance and any write offs - they write off a week when you first move between % rates)
But as you can see from mine attached, they have never split out the Other Charges ( in my case it is £66k) and I'm not sure I'd trust them to to get the figure right if they tried. Bottom line, keep your own records.
You do not have the required permissions to view the files attached to this post.
Yes it is meant to. But as you can see from my statement they have never split it out correctly. I gave up trying to get them to show it correctly after they adjusted it once to an incorrect figure. The two ratios that are important on that statement are
Commission/Gross Profit gives you your underlying com rate (i.e what is your base rate) In my case 19%. Should it get below 10% I'd be on a higher PC rate)
Total Charges/Gross Profit tells you if you need to pay PC in any given week. In my case anything under 40% incurs a PC charge.
There is no way, from the numbers on the statement, of working out your life time Net Profit. You need to keep a tally of that separately.