How to Create an Overpayment Invoice when Wrong Agent was Paid

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    • 9 minutes
      Navigate to Brokerage Engine.

      Verify Wrong Payment Issued

      The Distribution List shows the wrong agent was paid.
      Click "View Entries" under Accounting Details
      Click "Bills"
      The Bill in Accounting shows the same name as the Distribution List and a 1099 report was ran to confirm payment.

      Revoke the Transaction

      The Deposit for this Transaction was recorded using a Deposit Journal Entry. If Undeposited Funds was utilized, the deposit needs to be deleted or unbatched before continuing.
      Click "Revoke"
      Since the Transaction was closed and uploaded on the same accounting period, a Reversal Journal Entry is not required.
      Click "OK"
      Click "OK"

      Reopen the Transaction

      Click "Toggle Dropdown"
      Click "Reopen"
      Click "OK"
      Click "OK"

      Revise Agents

      Click "Edit Side"
      Click "Add Agent"
      From the dropdown menu, select the Agent that should have gotten paid.
      Click the "GCI Percentage" field and type "100.00".
      Click the "GCI Percentage" field for the Agent that was erroneously paid and and type "0.00".
      Click "Update"
      Click "OK"
      The Distribution List will now show the Agent to have "0.00" due from this transaction.
      Click the "Recalc" button to have the correct Agent show up on the Distribution List as well.
      The Agent will now be displayed.

      Review Accounting Entries

      Click "View Entries"
      Click "Bills"
      The only Bill displayed will be the one for the correct Agent since the one for the wrong Agent was revoked from Accounting.

      Close Transaction

      Click "COMMISSION_VERIFIED"
      Click "OK"
      Click "CDA_SENT"
      Click "OK"
      Click "CLOSING_PAYMENT_RECEIVED"
      Click "OK"
      Click "COMPLETE"
      Click "OK"

      Upload to Accounting

      Click "Upload to Accounting"
      Click "OK"
      Click "OK"
      The payment for the correct Agent can now be processed.

      Create Overpayment Invoice

      Click "View Entries"
      Click "Bill Payments"
      Click "View In Accounting" to see the wrong Payment in the BE Accounting interface.
      The Bill Payment for the wrong Agent paid will be displayed.
      Copy the Bill Payment Reference Number and then click "View Detail" to navigate to the Vendor profile.
      From the Vendor Profile, click "Transactions"
      Click "New Transaction"
      Click "Bill"
      Click this date field and select the date the Transaction was first uploaded to Accounting.
      Click the "Bill No." field and paste the Bill Reference Number. Delete the letter "P" of Payment.
      If using a different A/P Account for Commission Payments, then select it using the dropdown list.
      From the Account dropdown menu, select the Commission Overpayment account.
      Type a Description.
      Type the Amount to match the Bill Payment processed.
      Check the box to make create the Billable Expense Charge.
      Select the Agent from the dropdown list.
      Select the Class.
      Click "Save"
      Click the checkbox to create an invoice from the billable expense charge.
      From the dropdown list, select the Product/Service Item tied to the Commission Overpayment Account.
      Click "Commission Overpayment Recovery"
      Click "Save"
      Click "OK"

      Link the Bill and Bill Payment

      From the Vendor Profile, click on "Transactions".
      Click the Action button for the Bill Payment.
      Check the box for the Bill under "Outstanding Transactions" that needs to be linked.
      The Amount displayed should match the Amount of the Bill Payment.
      The Amount to Credit should be at "$0.00".
      Click "Save"
      Click "OK"

      Review the Bill and Bill Payment

      Click "View Detail" to navigate to the Vendor profile for the Agent.
      Click on "Transactions".
      The Bill and the Bill Payment are now linked.

      Review the Overpayment Invoice

      Click "Customers" under the "Sales" tab.
      Search for the Agent and select the Customer profile.
      Click "Transactions"
      The Overpayment Invoice will now appear on the list of Transactions.

      Run a 1099 Report

      It is suggested to run a 1099 Transaction Detail Report to confirm that the payment is no longer being tracked for 1099 purposes.
      From the Reports tab, click on "Accountant Reporting" and then click "1099 Transaction Detail Report"
      Click "Options"
      Click "[All]"
      Select the Agent from the dropdown menu.
      Click "Close"
      Click "Generate"
      The 1099 Transaction Detail Report will populate.
      The Transaction is no longer tracked for 1099 purposes due to the Commission Overpayment Invoice.
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