When agents have a bill, sometimes their bills get paid by withholding money from a commission. When money is withheld from agent's commission, they have a credit on the bill. This article will show you how to apply a credit to an agent's bill when it is withheld from their closings.
- Click the Sales menu
- Click the Add Payments submenu
- If there is multiple company, click search button
- Choose the company
- Click search
When an agent owes the money, it is a positive number. When an agent has a credit, it is a negative number. The property address is the property where the money is taken out of to pay the bill that owe by the agent.
To pay bill of an agent using the credit
- Check the box of the credit you want to use as a payment
- $200.00 credit will be used as a payment
- On the payment field, enter the amount that will be deducted from the bill
- $200.00 will be deducted from the $1000.53 owes by the agent
- Click the post button
- Click the yes button to record the payments
- The $1000.53 bill was deducted by $200.00
Notice that the positive amount entered to pay towards the Agent bill was $200.00 and not the whole $1000.53 that the agent owes. The positive amount entered needs to always be equal to the credit (negative amount) selected.
To repeat the process of paying bill of an agent using the credit
- Check the box of the credit you want to use as a payment
- Enter in the payment field the amount you will deduct from the bill.
- Click the post button
- Click the yes button
- $700.53 will be the new balance from the $1000.53 bill.
User can select multiple positive and negative values at the same time as long as user follow this rule:
The total payment of positive and negative values for each agent must SUM to $0.