In this article we will walk through how to add expenses to the Deal, Company and Agent cards. You will also learn how to complete the expense line fields and how to create company payouts for agent expenses.
- Paid from Deal
- Paid from Company Split
- Paid from Agent Split
- Completing Expense Fields
- Process for Agent Fees, Deductions, and Expenses - Pay at Remaining
Adding Expenses - Paid from Deal
Add expenses here if the expense is being taken off the top of the Deal, before the Company and Agent Split.
1. Navigate to the Deal page
2. Scroll to the Deal Disbursement card
3. Click Add Expense
4. Select the appropriate option:
- Gross Commission Fee - Fee will be deducted from Gross Commission
- Other Deduction - Fee will be deducted from Adjusted Gross
- Deal Expense - Fee will be deducted from Net Commission
5. An expense line will be added, click here to learn how to complete the fields on an expense line
6. Once all fields are added, click Recalculate in the Action bar
7. Deal Calculator: The expense will be added to the Deal Calculator to its corresponding section
- Each section will have:
- Calculated total for that section, less any Fees/Deductions/Expenses from the previous section
- The total of all Fees/Deductions/Expenses will be displayed
- The Product/Service and expense line amount will be displayed
Adding Expenses - Paid from Company Split
Add the expense here, if the company is paying out of their split.
1. Navigate to the Deal page
2. Scroll to the Company Disbursement card
3. Click Add Expense
5. An expense line will be added, click here to learn how to complete the fields on an expense line
6. Once all fields are added, click Recalculate in the Action bar
7. Company Calculator:
- The expense will be added
- Company Net will be reduced by the expense amount
Adding Expenses - Paid from Agent Split
Add the expense here, if the agent is paying from their split.
1. Navigate to the Deal page
2. Scroll to the Agent Disbursement card
3. Click Add Expense
4. Select the appropriate option:
- Compensation Expense - Agent 1099 Income will be reduced by the expense amount
- Agent Fee, Agent Deduction, Agent Expense - Agent 1099 Income will not be reduced by amount
5. An expense line will be added, click here to learn how to complete the fields on an expense line
6. Once all fields are added, click Recalculate in the Action bar
7. Agent Calculator: The expense will be added to the Calculator to its corresponding section
- Each section will have:
- Calculated total for that section, less any Fees/Deductions/Expenses from the previous section
- The total of all Fees/Deductions/Expenses will be displayed
- The Product/Service and expense line amount will be displayed
8. IMPORTANT: Agent Fees, Deductions & Expenses
- Additional steps are required when adding line items if Pay at Remaining is Selected, see instructions below
Completing Expense Fields
An expense line will be added, complete all fields
IMPORTANT: If Pay at Remaining is selected for Agent Fees, Deductions, or Expenses, there are specific steps that are listed in the next section
- Product/Service: Select from the dropdown
- Receiver: Add payee
- Amount: Enter a flat fee or pick an option from the Amount Type
- Amount Type: Flat Fee, % of Base Commission, % of Gross Commission
- Pay at Closing / Pay at Remaining: Select the appropriate option
Process for Agent Fees, Deductions, and Expenses - Pay at Remaining
Important: When the agent has an Agent Fee, Deduction or Expense that will be paid by the company on behalf of the agent, additional steps are required in order for the payouts to populate into the Remaining Payouts tab for disbursement by the company.
1. Add expense line as detailed above
- Receiver: Must be made payable to the Company
3. Recalculate the Deal, the expense will be deducted from Agent Split
4. Scroll up to the Company Card, notice the Company Income line for the expense line we just added
5. Next, create an Expense line for the Payout
- Click Add Expense
- Enter the same Product/Service
- Receiver: Enter the payee who will be receiving the payout
- Amount: Enter the same amount
- Select Pay at Remaining
- Click Save
6. Company Calculator: The Company Income and Company Expense will zero each other out
7. The payout will be added to the Remaining Payouts tab
Updated
Comments
0 comments
Please sign in to leave a comment.