Adding a Concession
19 steps
|
2 minutes
Add Concession off the top of commission
1
Navigate to the Commission Detail Page of the Transaction. Click the "Concession" button.
2
Click the "Add Concession" button.
The description field is how the concession would display on any documentation. (ie agent breakdown, CDA)
3
On the "Description" field, write a description for the concession.
It is recommended to not select a tracking account when concession is charged to the Pre-GCI
4
On the "Reason" field, write a reason for the concession.
5
Click "PRE GCI" to charge the concession off the top of the full Gross Commission
For Franchisee Clients - charging to the Pre-GCI means the amount of concession will not be part of reported GCI.
6
Enter the amount of concession in the "Fixed Concession Amount" field.
7
Click "Save"
8
Click "OK"
Charge Concession to Agent
9
Click the "Concession" button.
10
Click the "Action" button.
11
Click "AGENT GROSS (AGENT)" from the dropdown menu.
12
Click "Save"
13
Click "OK"
Adjust how Concession is Split between multiple Agents
When a concession is first entered, it will automatically be split based on the current commission split between the agents. The following steps explain how to adjust the concession if it should be divided differently from the commission.
14
Click the "Concession" button.
15
Click the "Action" button to edit the Concession.
16
Adjust the % for each agent on how you would like to allocate the concession. (needs to still add up to 100% between all agents)
17
Click "Save"
18
Click "OK"
Verify Change in Deposit
A concession is designed to be paid or credited at Title. This means the amount of the concession should reduce the expected commission deposit.
19
Utilize the "Accounting Details" table to verify the Commission Deposit amount.
