Multiple Deal Payout (Batch Payout)

Step 1: Receive all deal Payments

1. If you have received a Payment:

Open Receive Payment form from the Deal menu

• In the Lines section enter the deal
  • You can enter the deal number, reference, partial address or MLS number
  • If it finds more than 1 match it will popup the deal finder to allow you to select the correct deal
  • Deal Contact Selector will popup to choose who the payment is from
• Verify the automatically populated Payment Amount is equal to your Payment amount.  If it is not:
  • Go To the deal using the Actions icon on the line
    • If it’s out by a penny - open the Commissions Receivable tab and edit the Tax Total field in the Receivables grid at the bottom of the form.
    • If it’s out by more than a penny – open the Commissions Receivable tab and the Financials tab to determine why there is a difference and correct it.
  • Save & Close the Deal.
  • Delete the Line in the Deal Payment form and add a new Line and re-enter the deal, the Payment Amount should be correct.
  • If you could not correct the deal, but still wish to record the Payment amount, over-write the Payment Amount field.
• Verify the automatically populated Contact, Name on Payment & Fund field at the top of the form is correct.
• Enter the following fields at the top of the form:
  • Date = Date you are depositing the Payment
  • Payment Method = select the correct Payment Method (typically it should be “Cheque”)
  • Reference = Cheque Number 
• Post or Post & New if you have more payments to receive that day

2. If you have received an instruction letter with No Payment:

• Follow the instructions above, but when the Payment Amount auto-populates with a negative amount (excess deposit) change it to $0 and continue entering the other fields as instructed.

Step 2: TRUST

a) Open Deal Payouts from the Deals menu

• Select Brokerage and hit the go button
• Select all deals that are included on the Commission & Trust Bank Deposit for the day you are paying out, as well as Deals paid out without a cheque (letter only).
• Note: if there are deals from multiple days appearing in the list, set the filter equal to the day you are paying out.
• Enter Date
• Run Payables Details report for Trust & Commission Payout verification
• Post

b) Pay Vendors - Trust

• Pay Vendors should automatically open one posted, if not Deals Menu --> Pay Vendors
• Select Trust Invoices
• Verify Selected Amount
• Select Payment Method = your chequing account OR if doing an online transfer select your (EFT) chequing account
• Enter Payment Date = Same Date as Trust Payout Date above
• Create Payments

c) Print Cheques – Trust (if you are printing cheques)

• Print Cheques should automatically open, if not Deals Menu --> Print Cheques
• Fund = Trust
• Payment Method = your chequing acct
• Verify starting cheque number, change if necessary
• Print Cheques
• Verify Cheques printed correctly
• Continue

Close all open forms

IF MONIES ARE ALREADY IN COMMISSION TRUST SKIP TO STEP 4

Step 3: Manually create a Customer Payment for the cheque or transfer from Trust to Commission

• Open New Customer Payment Form from the accounting menu
  • Accounting --> Receivables --> Customer Payment
• Fund = Commission
• Customer = your brokerage
• Date = Date on Trust Cheque or Date of Transfer
• Reference = Cheque # on Trust Cheque or your own personal reference
• Payment Method = Cheque or DD chequing (for EFT)
• Amount = Amount on Trust Cheque
• Applied Documents – Apply the Payments that are on the Trust Cheque/Transfer
• Save & Post

Step 4: COMMISSION

a) Open Agent Payouts from the Deals menu

• Select the Contacts you are paying out
• Note: if there are deals from multiple days appearing in the list, set the filter equal to the day you are paying out.
• Verify deductions are correct
• If necessary, modify deductions by clicking on the row to modify
  • 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)
  • Save
• Post

b) Pay Vendors - Commission

• Pay Vendors should automatically open one posted, if not Deals Menu --> Pay Vendors
• Fund = Commission
• Verify Selected Amount
• Select Payment Method = Chequing
• Enter Payment Date = Same Date as Trust Payout Date above
• Create Payments

c) Print Cheques - Commission

• Print Cheques should automatically open, if not Deals Menu --> Print Cheques
• Select Commission Payments
• Select Payment Method = Chequing
• Verify starting cheque number, change if necessary
• Print Cheques
• Verify Cheques printed correctly
• Continue

Close all open forms

IF YOU HAVE MONIES TO TRANSFER FROM COMMISSION TO GENERAL

Step 5: Manually create a Customer Payment for the cheque or transfer from Commission to General

• Open New Customer Payment Form from the accounting menu
  • Accounting --> Receivables --> Customer Payment
• Fund = General
• Customer = your brokerage
• Date = Date on Trust Cheque or Date of Transfer
• Reference = Cheque # on Trust Cheque or your own personal reference
• Payment Method = Cheque or DD chequing (for EFT)
• Amount = Amount on Trust Cheque
• Applied Documents – Apply the Payments that are on the Commission Cheque/Transfer
• Save & Post