How To Process Single Deal Payout

Search for and open the Deal that needs to be paid out

Step 1 – Receive your payment in the Deal

• Click Action Button --> Receive Payment

• Choose Contact that the payment is from

• When the Receive Payment form opens check pre-populated data for accuracy
  • Brokerage | Fund | Total | Date | Payment Method
• Enter the Cheque # in the Reference Field
• Click post

 

If there is no payment to record, simply change the Status of the deal to Completing.

 

Step 2 – Payout Deal

• Click Action Button --> Single Deal Payout

• A Single Deal Payout form will open
  • There are 3 Sections to note
    • Deal and Trust information at the top
    • Deal Payables in the center
    • And Agent Deductions at the bottom

• Deal, Trust and Term Deposit Information – Not Actionable – For information and accuracy purposes only

 

• • This is a Snapshot of some key information to payout a deal
    • Deal #, Role, Status
    • Trust balances, Commission Balances
    • Term Deposit balances
    • Excess Deposit, Refund Contact

• Deal Payables
  • As a Default the Process checkboxes will be checked.
    • These will be the monies transferred to your general/commission fund as well as any trust cheques that are required

• Agent Deductions
  • Select all Agents

• • Default Deductions will appear for each of your agents on the deal      
    • Double Check deductions for accuracy
    • Add, remove or modify deductions where applicable
      • At the bottom of the grid select the Deduction Rule Maintenance icon
      • The Deduction Rule Maintenance form will open and modify as follows:
      • Select or Un-select the deduction checkbox
      • Modify the Type to either % of Parent Subtotal, Flat Fee or % of Parent Tax Total
      • Modify the Rate with either a percentage or an amount (Type must = Flat Fee to enter an amount)
      • Click ok
      • Double check the Net Paid Column

• If all Trust and Commission totals are correct Click Post to print cheques

 

Step 3 – Print Cheques

• Several Print Cheques Forms should automatically open upon posting
  • Trust Cheques
    • Select all cheques
    • Double check Starting Cheque Number
    • Print
    • Close form
  • Trust EFT/Direct Deposits (if applicable)
    • Select all
    • Double check Starting Cheque Number
    • Print
    • Close form
  • Commission EFT/Direct Deposits (if applicable)
    • Select all
    • Double check Starting Cheque Number
    • Print
    • Close form
  • Commission Cheques
    • Select all cheques
    • Double check Starting Cheque Number
    • Print
    • Close form
  • Zero Commission Stubs (if applicable)
    • Print each stub
    • Close Form

Close Single Deal Payout Form

Review Information on the Financial Tab of the Deal