How to Pay a Co-Brokerage from a Transaction

13 steps
|
56 seconds

Navigate to Brokerage Engine and open the Commission Detail page for the Transaction.

Create Payment

From the Commission Detail Page, select "Pass-Through Income"

To utilize the Co-Brokerage Settings, the Co-Brokerage Expense Account and the Co-Brokerage Income Account must first be configured on the Brokerage Settings page.

Click "Add Pass-Through Income" button.

Use an Accounts Payable account for the "Tracking Account" field.

Check the "Use CoBrokerage Settings" box.

Select a Co-Brokerage using the "Liability Vendor" dropdown menu.

Type the Amount in the required field.

Type a Description in the required field.

Click "Save"

Click "OK"

Review Entries

Navigate to the Accounting Details section.

Click the "View Entries" button.

The entry to create the Payable can be reviewed on the Main Journal Entry to be uploaded to the Accounting module. The Co-Brokerage Expense Account and the Co-Brokerage Income Account will offset each other, resulting in no net impact on the financial statements.

Before you can add a Co-Brokerage to a Transaction, please reach out to BE Support or your Customer Success Manager to ensure that this feature is enabled on your site.