How to Record Missed Referral Fees and How to Correct the Check Amount Issued to the Agent that was Overpaid. (Agent is Already Paid)

How to Record Missed Referral Fees and How to Correct the Check Amount Issued to the Agent that was Overpaid. (Agent is Already Paid)

Missed referral fees may be added to a closed transaction even if this property is already posted. This action will correct the accounting reports related to this property. To enter the missed referral fee, please follow the steps below.

  1. Click Properties menu
  2. Click search to locate for the property
  3. Click the Commission sub menu
  4. Enter the referral percentage (%) on the less referral field
  5. Click save

After saving, the system will now let the user to add the referral company.

  1. Click on the plus button across referral commission - list side
  2. Click on the magnifying glass on the referral list and enter a portion of a name to locate the person/company
  3. Enter the percent or amount
  4. Click add

The missed referral fee has now been entered into the system, but the agent is still overpaid and the referral fee is yet to be paid. To make this adjustments, please follow the steps below.

  1. Click Bills menu
  2. Click search button
  3. Choose the company on the dropdown
  4. Select the property by clicking on the magnifying glass and entering a portion of the property address
  5. Click search

If there are multiple vouchers/bill linked to this property, look for the agents commission voucher

  1. Click duplicate button
  2. Click yes
  1. Enter the overpaid amount in negative
  2. Flag 1099 as This Vendor - receiving this check
  3. Click post
  1. Click new
  2. Choose the company on the dropdown
  3. Choose the vendor by clicking the magnifying glass
  4. Choose the voucher type as Bill
  5. Enter the order date on the field or choose using the calendar icon
  6. Click start new
  1. Click "click here to add a new row"
  2. Enter the expense account of the agent on office/agent column
  3. Click tab and enter the description
  4. enter the overpaid amount in positive
  5. enter the date on the field or using the calendar icon
  6. click post
  1. Flag 1099 as no one needs a 1099 of this amount
  2. Click invoice now
  3. Click yes

NOTE: By clicking invoice now, the system will create an automatic invoice which the user needs to bill the agent.

Now that the adjustment has been made by creating a correction on the enter bills sub menu, these bills needs to be paid in order for the adjustments to apply. Please follow the steps below.

  1. Click Pay bills menu
  2. Click search
  3. Choose the company on the dropdown
  4. Click search
  1. Click on the person filter and enter a portion of the agents name to filter
  2. Click on the 2 check boxes that indicates the adjustment made for the overpayment (this should equal to zero)
  3. Enter the payment date on the field or use the calendar icon
  4. Click write check

Ready to pay all selected vouchers?

  1. Click yes

The adjustments have been applied to the system for the overpayment of the agent. Once payment from the agent is collected (the overpaid amount), user may now mark this paid under the sales menu. To do this, here are the steps.

  1. Click Sales menu
  2. Click Add Payments submenu
  3. Click search
  4. Choose the company using the dropdown
  5. Choose the agent by clicking the magnifying glass
  6. Click search
  1. Locate the overpaid amount charged to the agent and click on the checkbox
  2. Enter the payment date on ten field or use the calendar icon
  3. Click post
  4. Are you ready to record these payments ? Click yes

Now, the only thing left is to pay the referral fee missed. Below are the steps:

  1. Click Bills menu
  2. Click Enter bills submenu
  3. Click new button
  4. Choose the company using the dropdown
  5. Choose the vendor (referral company) by clicking the magnifying glass
  6. Enter the voucher type as bill
  7. Enter the order date on the field or use the calendar icon
  8. Click start new
  1. Click "click here to add a new row"
  2. Choose the office using the dropdown
  3. Choose the account
  4. Enter the description
  5. Enter the amount
  6. Click post
  7. Flag 1099 as This Vendor - receiving this check
  1. Click pay now button
  2. Choose the bank account on the dropdown list
  3. Choose the check template
  4. Enter the check number
  5. Enter the amount to pay
  6. Enter the payment date
  7. Click write check

    • Related Articles

    • How to Review Agent's 1099 Paid at Closing

      When an agent is paid at the closing by the Escrow Company or Title Company, a 1099 will be issued to used for the 1099 calculation. darwin Cloud will be able to track the agents' earned amount even if they are paid at closing. How to review the ...

    • How Can I Record a Commission Advance or Agent Credit Paid Out of Closing?

      If a credit or advance was paid directly to an agent at closing, the commission due to the company is reduced by the credit or advance amount. Offset settings can be used to record the transaction as if the entire commission was paid to the ...

    • How do I Record & Deposit an Agent Payment by Check

      In the (1) Sales menu, all of the invoices that need to be paid are in (2) Add Payments submenu. For multiple companies use search button to filter the result per company. Select the payment date by typing in the field or using the calendar Check the ...

    • How do I Print a Check for a Bill that is Already Entered

      Before continuing this article, please be sure to have reviewed "How do I Enter a Bill / Payable to be Paid," and make sure that there are bills or payables that are posted to be paid. Often when entering a bill or payable, the payment is not due ...

    • How do I Record an Agent Overpayment

      Sometimes it happens that an agent gives a check for more money than they owe. In this situation, user have an overpayment. Click the Sales menu Click the Add Payments submenu User may use the search button to filter the results a new window will ...