Adjustments

Once a Franchise Return to Head Office has been submitted, no changes can be made to the report for this period. Any changes to a previously submitted settled sale and unconditional sale will reflect in the next month's Franchise Report as an adjustment. For previously submitted settled sales, an adjustment against the commission tab attracts an adjustment to the Franchise Fees payable.

1. Upon viewing the commission tab of a settled sale that has contributed to your Franchise Reporting, you will see a notification advising so.

2. If you would like to proceed with editing the commission tab values, click within the grey notification panel to unlock.

3. Upon generating your next month's Franchise Return to Head Office the updates will be reflected as an adjustment (noted as Adj. within the report) showing the difference in Gross Commission, Net Commission and/or Sale Value.

4. You are able to review updates via the Commission History by clicking on the settled or unconditional date for the relevant property.

5. The Commission History Panel will open, allowing you to review the history of changes made to the sale value and attracted commission for agent(s).

The total number of sales attributed to agent(s) will also update when adjustments are applied to accurately reflect if this sale was shared between listings agents (for example, 2 listing agents receive 0.5 of the sale each) or a conjunctional agent.

* NB: You can also cross-reference these adjustments with the property modification log of the listing.

5. Proceed to review your Franchise Report to Head Office and when no further changes are required, click submit.

Note: Once a Franchise Report to Head Office has been submitted, no changes to this report for this period can be made. Any future changes will be reflected as an adjustment.