How to Collect Payment on Invoices from Commissions

    • 0 step |
    • 5 minutes
      Navigate to Brokerage Engine.
      The following procedure is for users with the BE Accounting interface.

      Creating the Payments

      From the Commission Detail Page, scroll down to the "Agent Open Balances" section. We can see that both of the agents in this transaction have open balances. The Invoice Balance column refers to open invoices on the front-end of the system (LSS). The Accounting AR Balance refers to the balance in the Accounting modules (BE Accounting and QBO). The Accounting AR Balance includes the Invoice Balance amount since invoices in the front-end of the system sync over to the Accounting side.
      It is suggested to run an "Invoice Reconciliation Report" in BE Accounting if the Accounting AR Balance is lower than the Invoice Balance since this would indicate that invoices have not properly synced over.

      Create Payment by Selecting the Invoices

      This is the suggested method of collection when an Agent is solely paying invoices created on the front end of the system.
      Click the "Add Payment" button.
      Click the checkbox in the corner to select all the invoices listed.
      To select individual invoices, click the checkbox next to the corresponding invoice.
      The system will automatically calculate the total payment amount once the invoices are selected.
      Click "Save"
      Click "OK"

      Close the Transaction

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

      Review Accounting Entries

      Click "View Entries"
      The Main Journal Entry will display an entry for the $258.00. It hits the "Agent Balance Accounting Clearing Account" configured in Brokerage Settings.
      The Account configured in Brokerage Settings.
      Click "Bills"
      The Bill for the Agent will also display the payment.
      Click "×"

      Upload to Accounting

      The Invoice Payments will not be recorded or applied toward open invoices until the transaction is Uploaded to Accounting. If the transaction is revoked from Accounting at a later time, the Invoice Payments will be revoked as well.
      Click "Upload to Accounting"
      Click "OK"
      Click "OK"
      The method used to record the commission deposit in Accounting does not affect the Invoice Payments.

      Review the Individual Payments

      On the Accounting module, navigate to the Customer profile of the Agent that had the payments individually selected. The Payment deducted from the Commission will display on the Transactions table.
      Click the Action button for the Invoice to review the Payment.
      The Invoice Payment status is marked as Paid.
      Click the "View in Brokerage Engine Connect" button to navigate to the Invoice at the front end of the system.
      The Invoice will be marked as Paid by Commission.
      Further details can be found on the Audit Log.
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