Error in the Commission Calculation of a Single Agent

In the case of a commission calculation for a transaction with several agents, if you discover that there is an error in the calculation of a single agent (e.g. in his commission fees) and that there is a payment preparation and a printed cheque that has not yet been cashed, you have the option to correct the calculation for this agent only. To do so, there are 3 steps to follow:

1. Cancel payment preparation and/or cheque payment (uncashed) of the agent
2. Do a negative commission calculation for the agent
3. Remove commissions from the list of commissions payable

1- Cancel Payments

The first step is to cancel all payment preparations and cheques that have not yet been cashed by the recipients.

• From the closed deal, go to the "Calculations History" section.

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

• In the "Payments History" section of each agent, verify the Type : there should only be a commission calculation and a payment.

• For the payment, 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, payment of the agent can be a payment preparation or a printed but uncashed cheque.

Payment preparation

In the "Payments History" section of the agent, there is a commission calculation and the payment is a payment preparation.

• Click on "P: Preparation Date".

• 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 cancellation date entered.

Warning

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

• Click on Yes.

Printed but uncashed cheque

In the "Payments History" section of the agent, there is a payment calculation and the payment is a printed cheque that has not yet been cashed.

• Click on "C: Cheque Number".

• 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- Do a Negative Commission Calculation for the Agent

Once the desired agent’s payment in the transaction is cancelled, you can do a negative commission calculation to cancel the first calculation.

• From the closed deal, click on Actions >> Commission Calculation.

• The fields $ Payable on this Calculation and Calculation Amount will be at 0.00. Enter, in negative, the amount that was paid to the desired agent in the Calculation Amount field and enter the same amount in negative in the $ Payable on this Calculation field of the desired agent. In this example, the agency wants to redo the calculation for the seller’s agent (Carole-Anne Hébert) who received $5,000.00.

Warning

You must enter the amount in the Calculation Amount field before entering it in the $ Payable on this Calculation field.

The Difference must be $0.00.

• Click on Submit.

• If the agent has an office deduction configured in his profile, a first table with it will appear. Otherwise, the table that will appear will be the one with the commission fees only.

• If applicable to the agent, in the Office Deduction , it is possible to enter the desired amount in the Amount Collected field.

• Click on Submit and the commission fees will appear in the table.

• In the Commission Fees , verify the Amounts Collected : it must be the same as during the first commission calculation for this agent.

• Click on Submit and the page of payment deductions table of all agents will appear.

• For each of the sections (Other Deductions, Advance, etc.), verify the Amounts Collected automatically entered by the system and uncheck them if necessary.

• Grand Total will be negative and Payment Method will be "Do not submit".

Warning

The amount in Grand total must be the same as in the first commission calculation for this agent.

• Click on Submit.

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

You must now remove the commission at $0.00 from the list of commissions payable by issuing a $0.00 cheque for the agent.

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

• Click on Submit and the payment deductions page of the agent will appear.

• 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.

• 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 and payment for this agent by changing, for example, his commission fees. 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.

Warning

After recalculating the commission, you must always verify the balance in the commission account and if it is not at $0.00, you must make a balance transfer.

Transfer the Balance**

When all payments have been made/received in the transaction and there is a balance (positive or negative) in the commission account, you must make a balance transfer so that the amount is $0.00 in the commission account.

Positive Balance

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

• Verify the Balance. If the amount is not $0.00, you must make a balance transfer. In this example, there is a surplus of $460.09 in the commission account, so this amount must be transferred from the commission account to the general account.

• In the "Summary of Banking Transactions" tab, click on Balance Transfer.

• From the drop-down list, select the general account and Automatic Deposit type: Individual or Grouped. In this example, it is an individual deposit in the general account.

  • Individual: Enter the Payment Date, the Deposit Date and the Prefix (YYMMDD).
  • Grouped: Enter the Payment Date.

• In the $ To Transfer field, next to the commission bank account, enter the amount of its Balance. In this example, the amount to be transferred from the commission account to the general account is $460.09.

• Select the Payment Method and if you choose "Cheque", enter the Cheque # (if manual).

• In the Supplier field, start typing the code or name of the supplier associated with the selected automatic deposit (general account).

• Click on Submit and the balance in the commission account will be $0.00.

Negative Balance

Warning

If an agent has to pay an amount to the agency for a transaction (negative commission payable on the home page), the negative balance in the commission account is not the actual amount to be transferred. If you still want to make the balance transfer, you must deduct the amount receivable from the balance in the commission account.

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

• Verify the Balance. If the amount is not $0.00, you must make a balance transfer. In this example, $51.74 is missing from the commission account, so this amount must be transferred from the general account to the commission account..

• In the "Summary of Banking Transactions" tab, click on Balance Transfer.

• From the drop-down list, select the commission account and Automatic Deposit type: Individual or Grouped. In this example, it is an individual deposit in the commission account.

  • Individual: Enter the Payment Date, the Deposit Date and the Prefix (YYMMDD).
  • Grouped: Enter the Payment Date.

• In the $ To Transfer field, next to the general bank account, enter the Balance amount of the commission account. In this example, the amount to be transferred from the general account to the commission account is $51.74.

• Select the Payment Method and if you choose "Cheque", enter the** Cheque # (if manual)**.

• In the Supplier field, start typing the code or name of the supplier associated with the selected automatic deposit (commission account).

• Click on Submit and the balance in the commission account will be $0.00.