Error in a Commission Calculation with Payment Preparation or Uncashed Cheque

In the case of a commission calculation with a payment preparation and a printed cheque that has not yet been cashed, if you discover that there is an error in this calculation (e.g. in the commission fees or in the commission distribution), you have the option to reverse it so that you can start over. To do so, there are 4 steps to follow:

1. Cancel payment preparations and/or cheque payments (uncashed) in the commission account
2. Cancel deposits in the general account
3. Reverse commission calculation
4. Remove commissions from the list of commissions payable

1- Cancel Payments in the Commission Account

The first step is to cancel all payment preparations (even the one to transfer an amount from the commission account to the general account) and cheques that have not yet been cashed by the recipients in the commission account.

• From the closed deal, go to the "Deal" section where the banking transactions are located, in the "Commission" tab.

• For the payments, there are three options:

  • "C: Cheque Number": Means that there is a printed cheque. If the cheque has not yet been cashed, you can cancel it. If the cheque has already been cashed, you cannot cancel it.
  • "P: Preparation Date": Means that there is a payment preparation. You can cancel it.
  • "T: Transfer Number": Means that there is an electronic transfer transmitted. You cannot cancel it.

• In this article, payments in the commission account are two payment preparations and a printed but uncashed cheque.

Payment preparation

• Under the Reference # field, click on "P: Preparation Date" to display the preparation details.

• Click on Actions >> Cancel Payment Preparation.

• Verify if the Cancellation Date is right for you (date of payment preparation is automatically displayed). The Accoun****ting Period will be automatically selected according to the reversal date entered.

Warning

Please make sure that the date entered is the same as the selected accounting period.

• Click on Yes.

• Repeat these steps for the other payment preparation.

Printed but uncashed cheque

• Under the Reference # field, click on "C: Cheque Number" to display the preparation details.

• Click on Payment Link.

• Click on Actions >> Cancel Payment by Cheque.

• Verify if the Cancellation Date is right for you (today’s date is automatically displayed). The Accounting Period will be automatically selected according to the cancellation date entered.

NOTE: If the uncashed cheque was printed in an accounting period prior to today, the cancellation date must be the same if the period is open. Otherwise, put today’s date.

Warning

Please make sure that the date entered is the same as the selected accounting period.

• Click on Submit.

2- Cancel Deposits in the General Account

The second step is to cancel the deposits in the general account.

• From the closed deal, go to the "Deal" section where the banking transactions are located, in the "General" tab.

• For the deposits, there are two options: Individual and Grouped.

  • Individual: One deposit only.
  • Grouped: Several pending deposits.

• In this article, you will see the 2 types of deposit in the general account.

Individual deposit

• Under the Reference # field, click on the deposit number.

• Click on Actions >> Edit Deposit.

• Click on the Red X icon to the right of the desired deposit.

• Click on Submit.

Grouped deposit (pending)

• From Main menu, click on the Cash Register icon

or Accounts Receivable >> List of Deposits, click on Actions >> New Deposit.

• From the drop-down list, select "General" for the Bank Account.

• Click on the Check Mark button.

• Click on the Green Cubes icon (Pending Automatic Deposit).

• Click on the Red X icon to the right of the desired deposit.

• Click on Submit.

**3-**Reverse Commission Calculation

Once all payments in the commission account and deposits in the general account are cancelled, you can reverse the commission calculation so you can start it over.

• From the closed deal, go to the "Deal" section where the banking transactions are located.

• The "General" tab should no longer be displayed and in the "Commission" tab, the Balance should be the deposit amount only.

• Go to the "Calculation History" section.

• Click on the Calculation Date to display the commission calculation for all agents involved in the transaction.

• Click on Actions >> Reverse Calculation.

• The Reversal Date will be by default the date of commission calculation. The Accoun****ting Period will be automatically selected according to the reversal date entered.

Warning

Please make sure that the date entered is the same as the selected accounting period.

• Click on Submit and the page of the transaction will appear.

• In the "Calculations History" section, you will see a positive amount and the same negative amount, resulting in a total Amount of $0.00.

• In the "Closing of the Deal" section, the $ Paid will be $0.00.

4-**Remove Commissions from the List of Commissions Payable

You must now remove the commissions at $0.00 from the list of commissions payable by issuing a $0.00 cheque for each of the agents involved in the transaction.

• From the home page, click on the number to the right of the "Commissions Payable" warning or from Main menu >> Real Estate >> List of Commissions Payable.

• All the agents will be selected so click on Submit.

• Check all the boxes of the desired combination: Agent/Sub-Franchisee + Property****Address.

• Click on Submit and the payment deductions page for all agents involved in the transaction will appear.

• For each agent, make sure that all the amounts collected are at $0.00 in all sections (Commission Calculations, Commissions Fees, Other Deductions, etc.). The Grand Total must be $0.00, otherwise, uncheck the appropriate boxes.

• Verify if the Payment Date is right for you (today"s date is automatically displayed).

• Select "Check payment" for the Payment Method.

Warning

In the "Balance Transfer" section, make sure there is no amount in the $ To Transfer. Otherwise, set it to $0.00.

• Click on Submit & Print.

• Enter "0" in the Starting Number of the cheque.

• Click on Submit and the commission payment slip at $0.00 will appear.

• If necessary, you can redo the commission calculation for this transaction by changing, for example, the total or the distribution of the commission. For more information, please see the article Commission Calculation and Payment.

Warning

Once a commission calculation has been made for a transaction, it is no longer possible to delete an agent. However, it is possible to edit the transaction and enter "0.000" in the Commission field of the agent you want to remove.