TABLE OF CONTENTS


Use when only a portion of the commission on a sale is received by the office


Referral

A sale for Referral Income will be displayed on your current Sales tab or can be entered as a Manual sale.

 

If you receive only part of the commission, click the Part button and enter the amount received. This will record it as a partial commission payment.

Enter the sell price and the full amount of the commission that was charged on the sale.

(Not just the amount that your office charged) 

Then enter the amount your office received in the Amount Received box.




Any % allocated to the Agent will be calculated from the partial amount of commission received.


When adding a Sale to your EOM return, it will usually be for the full commission amount received.


Part Received


This situation can occur when a portion of the commission is paid upfront, with the remaining balance received later, or when a referral amount is received. 


For example, in the case of a development sold off the plan, part of the commission may be received initially, with the remainder paid upon settlement.


If you have only received part of the commission, click the Part button and enter the amount received. This will record it as a partial commission payment.


If the office has only received a portion of the total commission, you should also enter either the total commission amount or the percentage of the total commission that the amount received represents. This ensures that the sides for the sale are calculated correctly.



Any % allocated to the Agent will be calculated from the partial amount of commission received.


IMPORTANT


If a referral or part payment amount is entered as 100% of the commission on a sale, it will incorrectly award the agents on the Volume Sales Ladder a greater share than they should receive.


For example:


A sale has $20,000 total commission, and the office receives a $2,000 referral fee.

If the $2,000 is entered as 100% of the commission, the system will award the agent 100% of the sale price on the ladder.


However, if the amount is entered using the Part option, the system will correctly allocate 10% of the sale to the agent.


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