How do I Give an Agent a Commission Advance?

How do I Give an Agent a Commission Advance?

When an agent has an upcoming closing transaction, they may request an advance. This article will cover how to give an advance to an agent and how to recover the advance from a closing.

  1. Click the Bills menu
  2. Click Enter bills submenu
  3. Click the (+) new button
  4. Select the company from the dropdown list
  5. Enter the vendor by clicking magnifying glass button
    • a new window will appear, fill out necessary information
  6. Select the voucher type
  7. Enter the order date or choose the date using the calendar icon
  8. Click start new button

The key to paying an advance and getting the money back is this: pay the agent and charge the agent at the same time.

When entering the details of the payable:

  1. Click click here to add a new row
  1. Select the agent from the dropdown list, then press tab
  2. The account will automatically be filled in
  3. Enter the description of the bill, then press tab
  4. Enter the amount of advance payment, then press tab
  5. Click the post button

Next, to charge the agent to pay company back:

  1. Click the invoice now button
  2. Click the yes button

A new window message will display that the invoice was created successfully. Invoice '#' was created.

To confirm if the invoice has been created properly:

  1. Click the Sales menu
  2. Click Invoices submenu
  3. Click the search button
  4. Select the company from the dropdown list
  5. Then enter the invoice #
  6. Click the search button
  1. The invoice created will show with the voucher # linked to it

Printing the check for commission paid in advance

  1. Click Bills menu
  2. Click Enter bills
  3. Click search to open bills/voucher
  4. Click search
  1. Click pay now button
  2. Select the bank account from the drop-down list
  3. Select the check template from the drop-down list
  4. Enter the check number
  5. Enter the amount to pay
  6. Fill in the payment date by typing in the field or selecting it using the calendar icon
  7. Click the write check and print button

The page gives a preview of the check to be printed. Click the print button to print the check.

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