Reverse a Commission Advance

In the case of a commission advance with a payment preparation and a printed cheque that has not yet been cashed, if you discover that there is an error in this advance (agent, amount, interest, etc.), you have the option to reverse it so that you can start over. To do so, there are 3 steps to follow:

1. Cancel payment preparation and/or cheque payment (uncashed)
2. Redo a commission advance in negative
3. In the case of an external discounter: Make a deposit at $0.00

1- Cancel Payment

The first step is to cancel the payment preparation or cheque that have not yet been cashed by the recipient.

• From the deal, go to the "Deal"/"Commission Advances" section.

• Click on the Sheet with a Pencil icon to the right of the desired commission advance to display its information.

• In the "Advance" section, verify the type of payment in the Description : 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 is a printed but uncashed cheque.

• Click on "C: Cheque Number".

• 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-**Redo a Commission Advance in Negative

You must now request exactly the same commission advance as the first time, but in negative.

• From the transaction, go to the "Deal"/"Commission Advances" section.

• Click on the Sheet with a + icon.

"Other Discounters" tab - "Commission Advance" section

• Select the Agent/Sub-Franchisee who requested the advance. In this example: Carole-Anne Hébert.

• Select who loaned the money (Discounter field): The Office (agency) or an external company from the drop-down list (ex.: Comm Plus). In this example : the agency.

• Enter the Date and the Amount loaned in negative. In this example: -$2,000.00.

"Other Discounters" tab - "Invoicing" section

• If applicable, enter the amount for Fees (taxable) or Interest (non-taxable) in negative. In this example: $150.00 in interest.

• Enter the Date of the invoice. The 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 Submit.

• Select "Cheque" as Payment Method and click on Submit.

• The negative amount of the commission advance automatically appears in the new payment preparation. In this example: -$1,850.00.

• Click on the Yellow Sheet icon (Select Commission Advances).

• Check the 2 boxes of the desired transaction. There will be a positive amount and this same amount in negative. In this example: $2,000.00 and -$2,000.00.

• Click on Submit.

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

• Check the 2 boxes of the invoices associated with the commission advance. There will be a positive amount and this same amount in negative. In this example: $150.00 and -$150.00.

• Click on Submit.

Warning

The Total must be $0.00.

• Check if the Payment Date is right for you (today's date is automatically displayed). The Accounting Period will be automatically selected according to the payment date entered.

Warning

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

• You can add Detail and/or Description that will appear on the cheque slip.

• If the cheque is made by hand, please put "0" in the Cheque Number (if manual) field.

• Click on Submit & Print.

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

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

• If the discounter is the agency, you can now redo the request for a commission advance. For more information, please see the article Request a Commission Advance in a Transaction (637).

3- Make a Deposit at $0.00 if the Discounter is an External Company

In addition to the previous steps, the agency must also make a deposit at $0.00 when the discounter is an external company. If the deposit of the advance was not made during the first request for the commission advance, the agency must add a new deposit at $0.00 and if the deposit of the advance has already been made, the agency must change it to $0.00.

A) New Deposit

Applicable when there is no deposit in the first commission advance requested.

• 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 the Bank Account you want to deposit into.

• Click on the Check Mark button.

• In the Supplier field, start typing the name of the discounter (lender) and select it from the drop-down list. In this example: Comm Plus.

• Press the TAB key on your keyboard.

• Click on the Yellow Sheet icon (Select Commission Advances).

• Check the 2 boxes of the desired transaction. There will be a positive amount and this same amount in negative. In this example: $1,850.00 and -$1,850.00.

• Click on Submit.

Warning

The Grand****Total - Deposit must be $0.00.

• Enter Deposit Date and Deposit Number.

• Click on Submit.

• You can now redo the request for a commission advance. For more information, please see the article Request a Commission Advance in a Transaction (637).

B) Edit the Existing Deposit

Applicable when there is already a deposit in the first commission advance requested.

• From the transaction, go to the "Deal"/"Commission Advances" section.

• Click on the Sheet with a Pencil icon to the right of the commission advance with a positive amount.

• In the "Discounter" section, click on the deposit number to display its information.

• Click on Actions >> Edit Deposit.

• In the Supplier field, start typing the name of the discounter (lender) and select it from the drop-down list. In this example: Comm Plus.

• Press the TAB key on your keyboard.

• Click on the Yellow Sheet icon (Select Commission Advances).

• Check the box of the desired transaction with a negative amount. In this example: -$1,850.00.

• Click on Submit.

Warning

The Grand****Total - Deposit must be $0.00.

• Verify the Date and Deposit Number automatically entered by the system and change them if necessary.

• Click on Submit.

• You can now redo the request for a commission advance. For more information, please see the article Request a Commission Advance in a Transaction (637).

Related Articles:

• New Deposit
• Closing a Deal
• Commission Calculation and Payment
• Reimburse a Commission Advance (638)
• Consulting/Editing a Commission Advance (644)
• Reassign a Commission Advance (645)