How to Add New Commission and Deduction Adjustments for Agents

How to Add New Commission and Deduction Adjustments for Agents


Commissions reward agents for their performance, while deductions account for adjustments, corrections, or agreed-upon reductions. Loft47 makes it easy to add new adjustments without changing past entries, so your records stay accurate and consistent.  

Adding a new Commission Adjustment

Go to Agent Profile > Scroll down > find Deduction Adjustments /Commission Adjustments Section, as shown below.
Click "New" > Enter below details:
Adjustment Date - the date when the new commission or deduction adjustment start applying
Ends - deal count limit, ie: the agent reaches this deal count (10 deal counts), the adjustment no longer applies.
Commission Net - commission before tax
Commission Tax - tax amount on commission if applicable
Side - Listing or Selling side
Property Type - Residential or Commercial 
Volume - deal volume (amount)
Team - Select agent's team
Save

Adding a Deduction Adjustment > click New > Enter below details:

Adjustment Date - the date when the new deduction adjustment start applying
Net - adjustment amount
Tax - tax amount on adjustment if applicable
Property Type - Residential or Commercial  
Deduction Template - If this adjustment is tied to a specific template, pick that deduction template from the dropdown. 
Save. 

KeyNotes for Accurate Adjustments

  • You can delete, modify, or add new adjustments as needed. However, past entries remain unchanged, ensuring historical records stay accurate and consistent.
  • Double-check amounts before saving to avoid mistakes.
  • Keep a log and description of those adjustments for transparency and future reference.

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  1. Starting with Loft or Switching Off System Adjustments - Beginning Balance/Mid Year/Year End Commission & Deduction adjustments
  2. Adjustments for Agent’s Other Income - Making Adjustments to Agent "Other Income


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