How To Manually Create a Commission Overpayment Invoice
33 steps
2 minutes
1
Navigate to Brokerage Engine.
2
Click "Accounting" to access the interface.
The following steps require selecting the Default Commission Overpayment Tracking Account within the BE Accounting Configuration Panel.
Create the Commission Overpayment Invoice
3
Click the "Expenses" tab.
4
Click on the "Vendors" options.
5
Click the "Search Vendor" field and type the name of the Agent.
6
Click on the name to access the Vendor profile.
7
Click "Transactions"
8
Select the "Action" button of the Bill that was overpaid.
9
The Bill will then populate.
10
Using the dropdown menu, select the "Commission Overpayment" account from the line that was tied to the "Commission Expense" account.
Additional lines may be added if the Commission Overpayment is for a lesser amount than the original tied to the Commission Expense account. However, care must be taken to ensure the original bill amount remains unchanged.
11
Select the "Billable" checkbox.
12
Using the dropdown menu, select the Customer profile for the Agent.
13
Click "Save"
14
The Billable Expense Charge prompt window will populate. Select the checkbox to create the Commission Overpayment Invoice.
15
Select the Product/Service tied to the Commission Overpayment account.
16
Click "Save"
17
Click "OK"
18
The Bill will populate. Note that the Bill Payment amount has not been affected.
Review the Overpayment Invoice
19
Click the "Sales" tab.
20
Click "Customers"
21
Click the "Search Customer" field and type the name of the Agent.
22
Click on the name.
23
Click the "Transactions" tab.
24
The Commission Overpayment Invoice will be listed. Note that the date of the Invoice follows the Bill date.
Payment can be collected from the agent using the standard payment methods. While the invoice will not sync to the front end of the system, the amount can be deducted from commissions.
Verify the 1099 Transaction Detail Report
25
Click the "Reports" tab.
26
Click "Accountant Reporting"
27
Select the"1099 Transaction Detail Report" option.
28
Click the "Options" button.
29
Select \[All\] on the 1099 Box.
30
Select the Agent using the dropdown menu.
31
Click "Close"
32
Once the date range has been confirmed, click the "Generate" button.
33
The Overpaid Amount to the Agent is no longer included in 1099 reporting.
How To Manually Create a Commission Overpayment Invoice
33 steps
2 minutes
1
Navigate to Brokerage Engine.
2
Click "Accounting" to access the interface.
The following steps require selecting the Default Commission Overpayment Tracking Account within the BE Accounting Configuration Panel.
Create the Commission Overpayment Invoice
3
Click the "Expenses" tab.
4
Click on the "Vendors" options.
5
Click the "Search Vendor" field and type the name of the Agent.
6
Click on the name to access the Vendor profile.
7
Click "Transactions"
8
Select the "Action" button of the Bill that was overpaid.
9
The Bill will then populate.
10
Using the dropdown menu, select the "Commission Overpayment" account from the line that was tied to the "Commission Expense" account.
Additional lines may be added if the Commission Overpayment is for a lesser amount than the original tied to the Commission Expense account. However, care must be taken to ensure the original bill amount remains unchanged.
11
Select the "Billable" checkbox.
12
Using the dropdown menu, select the Customer profile for the Agent.
13
Click "Save"
14
The Billable Expense Charge prompt window will populate. Select the checkbox to create the Commission Overpayment Invoice.
15
Select the Product/Service tied to the Commission Overpayment account.
16
Click "Save"
17
Click "OK"
18
The Bill will populate. Note that the Bill Payment amount has not been affected.
Review the Overpayment Invoice
19
Click the "Sales" tab.
20
Click "Customers"
21
Click the "Search Customer" field and type the name of the Agent.
22
Click on the name.
23
Click the "Transactions" tab.
24
The Commission Overpayment Invoice will be listed. Note that the date of the Invoice follows the Bill date.
Payment can be collected from the agent using the standard payment methods. While the invoice will not sync to the front end of the system, the amount can be deducted from commissions.
Verify the 1099 Transaction Detail Report
25
Click the "Reports" tab.
26
Click "Accountant Reporting"
27
Select the"1099 Transaction Detail Report" option.
28
Click the "Options" button.
29
Select \[All\] on the 1099 Box.
30
Select the Agent using the dropdown menu.
31
Click "Close"
32
Once the date range has been confirmed, click the "Generate" button.
33
The Overpaid Amount to the Agent is no longer included in 1099 reporting.
