Receive a Commission Overpayment

If an agent must reimburse an amount of his commission to the agency, following the addition of a referral in a transaction or a commission calculation error, it is possible to do so via his commission payment from another transaction (option 1) or he can issue a cheque that the agency will deposit (option 2). In both cases, you must then verify the balance in the commission account and if it is not $0.00, you must make a balance transfer.

Option 1 - To be Reimbursed for the Amount Receivable by the Payment of Another Commission

NOTE: The payment receivable from an office agent will be automatically deducted when paying his next commission.

• From the home page, click on the number to the right of the message "Commissions Payable".

• All agents will be selected so click on Submit.

• You can see the amount to be reimbursed (negative) on the line of the appropriate Agent/Sub-franchisee + Property Address combination, i.e. the agent who has to reimburse an amount to the agency as well as the transaction in which a referral was added or an error was made. In this example, Paula Courtier has to reimburse $1,450.00 following the transaction at 123, Tremblay, Montreal.

• Check the desired Agent/Sub-franchisee + Property Address combination, i.e. the agent who has to reimburse an amount to the agency as well as the transaction for which you want to do a commission calculation and collect the amount to be reimbursed. In this example, it is Paula Courtier and 123, Main Street, Montreal.

Warning

You only need to check the box with the positive commission amount.

• Click on Submit and the "Payment Deductions" table page for all agents involved in the transaction will appear.

• In the "Overpayments" section of the agent who has to reimburse an amount, the system will have automatically entered this amount into the Amount Collected. In this example, Paula Courtier’s amount is $1667.14.

• In the "Invoices" section, you must also check the commission invoice associated with the transaction. In this example, Paula Courtier’s amount is $86.23.

• The amount to be reimbursed will be deducted from this commission payment. For the next steps, please see the article Commission Calculation and Payment.

Option 2 - To be Reimbursed for the Amount Receivable by Cheque or Electronic Transfer

• From Main menu, click on the Cash Register icon

(New Deposit).

• From the drop-down list, select the Bank Account you want to deposit to and click on the Check Mark button.

• Enter the Deposit Number and the Date.

• Enter the name of the Agent/Sub-Franchisee or Ext. Agency who issued the cheque and press the Enter key on your keyboard.

• In the case of an agent, you will see the Blue Sheet icon as well as the Green Sheet icon. In the case of an external agency, you will only see the Green Sheet icon.

• Click on the Green Sheet icon (Commissions Payable).

• Check the appropriate Amount Due (negative) and click on Submit. In this example, Paula Courtier’s amount is $1667.14.

• The Amount (positive) to deposit will appear.

• In the case of an agent, you must also retrieve the commission invoice associated with the transaction. To do so, enter the name in the Agent/Sub-Franchisee field and press the Enter key on your keyboard.

• Click on the Blue Sheet icon (Select Invoices).

• In the "Commission" tab, check the appropriate Total and click on Submit. In this example, the amount of Paula Courtier’s commission invoice associated with the transaction is $86.23.

• Click on Submit to deposit the amount.

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.