Outstanding Promotion money. OSL Office allows you to 'claw' back outstanding VPA money from the vendor when a Sale is released or in the case where the money is due from the Agent, from the Agent's pay statement.


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Vendor share

It is not uncommon for there to be outstanding monies due on a Promotion.

If there is a balance of the Promotion still owing when the property sells, then the outstanding amount will be displayed on the Solicitor proforma statement and will automatically be deducted when you Release the sale.

Only a Promotion with the status In Progress will be displayed, if the Promotion is Pending it will not show


Any outstanding amount will show on both the Vendor pro forma and settlement statements.

When you Release the Sale the amount that you retain will be increased to cover any outstanding Vendor share of the Promotion and the promotion will be marked as paid.

When the sale is Released, the Promotion will automatically be updated with the outstanding amount, you do not have to update the promotion


Remove from Sale statement

If you do not want the outstanding Promotion amount to be displayed on the sale settlement statement, change the status of the Promotion to Pending.


Agents share

Any amount that has been allocated to the Agent will appear on the Agents statement in the Clearing screen.

Some of the Advertising cost to the Agent (or the Office)

You can deduct the Agents share of a Promotion before there has been a sale for the property. It is your company policy if you choose to deduct the Agents outstanding share of the promotion before a sale.


Multiple Agents

You can split the Agents share of a Promotion with other Agents is by using Clearing > JNL Debit


Example: 
Say three Agents want to split the Agent Promotion share of $600. i.e. $200 each.
Open each Agent Clearing > Agent details and add a JNL (taxable) debit $200


After you have created the 3 JNL's open the Promotion and Receipt the total Agent share.


This will mark the Agents share of the Promotion as paid and deduct the $200 from each of the agents' pay statements.


Make sure that you allocate the total of the Agents share, otherwise the Promotion will still show as payable on the Promotion Agents account.