Debits & Credits: FAQs



*Note: the following information is only applicable for offices that have the Debit & Credit Commissions module activated in their system. If you would like to activate this module, please submit a Change Request through the Help Centre. 

 

Q: How do I generate a report to view the agent's monthly debits/credits?

 

A: This can be generated via Reports > Agent Reports > Agent Net Commission Payments.

 

Q: Why aren't all sales displaying in the Agent Net Commission Payments Report? 

 

A: Only Settled sales that have had their commission splits saved and confirmed after the activation of the module will appear on the Agent Net Commission Payments Report. Any back-dating requires manual re-saving of commission splits.

 

Q: How can I reverse the agent net commission payment report once submitted? 

 

A:  You won't be able to change a submitted report. Please submit a client change request for further clarification.

 

Q: How do I record advertising expenses that the agent needs to reimburse the office for?

 

A: In addition to recurring expenses you may need to record manual ad-hoc debits & credits against each Agent (e.g. Recoverable Agent Marketing Expenses / Adjustments / Bonus Payment, etc.). Within the Debits/Credits tab of a staff card, enter the following details, and click Save. Find out more information on ad-hoc debits & credits here.

 

Q: Do I need to create a profile every month?

 

A: No, you can specify monthly recurring income/expenses, agent commission splits, and any monthly deductions. This will calculate and add any ad-hoc items that are submitted against a profile for that month. 

 

Q: Where do I record ad hoc debits or credits?

 

A: The Debits & Credits tab of an agent's staff card. Find out more information on ad-hoc debits & credits here.

 

Q: Can I pay commission on unconditional sales?

 

A:  No, only settled sales can be calculated by default. Clients utilising staged commissions however are able to pay based on staged payments received.

 

Q: How does staged commission payment affect debits & credits?

 

A:  Once a stage payment has been recorded as part of a submission of at least one Agent Net Commission Payment Report, that stage payment record will be locked and cannot be edited or deleted. However, if this has not been completed you can simply click the icon to delete. Find out more information on staged commissions here.

 

Q: If the agent owes money from the previous month, will this appear in the following month?

 

A: Yes, it will roll over once the previous month's report is submitted.

 

Q: If I make a change to a settled sale that has previously been reported, will that affect my report?

 

A: Yes. It will appear as an adjustment in the following month's report.

 

Q: Gross deductions are not appearing against the agent's commission splits?

 

A: Check the ticked deduction(s) in the agent's commission profile. This allocates the agent as a default when the fee is applied to a listing's commission splits.

 

Q: In a commission profile, what does the Check Agent Split % calculate the split on?

 

A: The Check Split % function checks the total cumulative gross commission for the agent ($) based on the unconditional date of the listing, the cumulative value will determine the appropriate tier. You can also click on the amount and % next to the check button to generate the report of included listings. Please note some clients have the setting to use the conditional date not the unconditional date for the checking method. This change can be requested via a client change request.

 

Q: Can I pay my commissions fortnightly not monthly?

 

A: Yes. Submit a Client Change Request

 

Q: Where does the Managing Agent appear?    

 

A: Managing Agent can be selected as an agent role type on the Agents & Contact tab of a listing. This role type will contribute to commission received based on the listing split value entered on the commission's tab.

 

Q: Do you need to create a commission profile for commission-only agents? 

 

A:  It's not a requirement, but it is beneficial to outline their agent/office split against the Targets tab in order to have their commission split details pre-populate in the Commissions section of a listing card.

 

Q: If an agent's salary cycle is not in line with the commissions paid, how would this be managed?

 

A:  In the staff card under the Debits/Credits section, the salary will need to be entered each time as a one-off debit/credit.

 

Q: If an agent received a bonus, where would this be added?

 

A:  Against the agent's staff card under the Debits/Credits tab, the bonus will need to be entered as a one-off credit.

 

Q: If an agent moves from a debit credit agent to a commission-only agent how is this managed?

 

A:  You will need to create a new commission profile with the start month of when the change would need to be applied.

 

Q: In marketing funds, an agent has been assigned to pay marketing expenses. Why is this not appearing on their debit & credit statement?

 

A: Marketing funds and the Debits/Credits tab are not connected in any way. It has been specifically designed this way to suit a variety of Agentbox users who may or may not have the Debits/Credits module.

 

Q: How do Debits/Credits work on a Multi-Office system?

 

A:  Debits & Credits need to be managed in the sub-account in a multi-office set up as commission related items are managed in the sub-accounts.

 

Q. How can I view previously submitted reports?

 

A. Via Reports > Agent Net Commission Payments > Change the Report type (from the default Outstanding Payment) to Previously Reported Payments.

Was this information helpful?