Checklist · IB Commission Operations
Partner Statements: Reconcile Trades, Adjustments and Payouts
Reconcile an IB statement from opening payable through commissions, adjustments and paid amounts. Separate pending payouts and currency balances.
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Published by FxTrusts, a supplier of brokerage and prop firm technology. Prepared with AI-assisted research and drafting; reviewed against the cited public sources. Examples are illustrative. Product links describe our services.
Quick answer
Partner-statement reconciliation explains the movement from opening to closing payable using earned commissions, approved adjustments and completed payouts. Every movement needs a source record and currency. A requested payout is not automatically a paid amount, and matching one closing total does not prove that every underlying event was processed correctly.
Establish the statement boundary
Choose a partner, reporting period, currency and cutoff before collecting movements. Carry forward the prior closing payable and identify any opening corrections explicitly. Different currencies need separate balances unless an agreed conversion has created a new recorded amount. Keep earning dates, booking dates and payout dates available because late-arriving events can belong to different views. Decide how the statement treats such events so a later import does not make yesterday’s published document change without explanation.
Reconcile earning records to their rules
Trace trade-based rebates to eligible activity and rate versions, and acquisition awards to approved qualification records. Grouped totals should expand into the events that created them. Check missing sequence ranges, repeated imports and items attributed to the wrong partner. IBKR’s fee documentation illustrates the importance of an effective fee configuration; a statement using another platform still needs to preserve its own agreement version. Do not substitute the latest configuration for the one that earned a historical amount.
Sources for this section
- IBKR Broker Portal: fee configuration and effective dateswww.ibkrguides.com
Recognize payouts at the declared completion state
A payout request, internal approval, provider acceptance and final settlement are separate events. Specify which evidence reduces the payable in your accounting workflow, and reconcile unresolved transfers in a pending account or status. If a provider reverses or returns a transfer, link that event to the payout and restore the appropriate liability once. OWASP transaction-authorization guidance is relevant to approval integrity, while the contract and accounting policy determine the recognition rule used in this statement.
Sources for this section
- OWASP Transaction Authorization Cheat Sheetcheatsheetseries.owasp.org
Close differences with evidence, not a balancing plug
A small mismatch may reveal rounding, a missing fee, a currency conversion or a duplicated commission. Record the cause rather than inserting an unexplained adjustment to force agreement. Preserve statement versions, approval and delivery status. Where an amount is disputed, show the disputed item and the recognized balance clearly instead of deleting the history. The check should reconcile both event counts and money; equal totals can conceal an omitted credit offset by an omitted debit.
A complete payable movement in one currency
Assume a fictional USD statement opens with USD 120 payable, adds USD 84 of valid commissions, includes a USD 6 approved negative correction and has USD 150 of completed payouts. Closing payable is 120 + 84 − 6 − 150 = USD 48. A further USD 30 payout request remains pending and is not subtracted under this example’s completion-based policy. If that transfer completes later, its linked movement reduces payable to USD 18; it must not be deducted a second time when the next statement imports the same event.
| Movement | Effect on payable |
|---|---|
| Opening payable | USD 120 |
| Earned commissions | +USD 84 |
| Approved correction | −USD 6 |
| Completed payout | −USD 150 |
| Closing payable | USD 48 |
| Pending request disclosed separately | USD 30; no deduction yet |
Implementation checklist
- Fix the partner, currency, cutoff and statement version.
- Match earning and adjustment totals to their underlying records.
- Separate requested, approved, completed and returned payouts.
- Explain every difference and verify the opening-to-closing equation.
Sources
These documents support the reference. Check the original publication for current requirements and the limits of its scope.
- IBKR Broker Portal: fee configuration and effective dateswww.ibkrguides.com
- OWASP Transaction Authorization Cheat Sheetcheatsheetseries.owasp.org
Continue with the broader guides
Connect this reference to platform selection and the wider operating workflow.