Making Adjustments to Agent "Other Income"

When an Agent is paid from a third party, and the amount is not considered commission income, we offer the ability to create a line item called "Other Income". 

You can add an Other income item by clicking add and selecting the Agent or Brokerage from the list of contacts on the deal.  Each Agent can only have one other income amount. This amount is added to the Agent payout and will be included in their paystubs. 

Only having one other income line can make it difficult if errors are made during a payout and have to be adjusted after the Agent has been paid. 

In order to update or change the amount of other income on a transaction we suggest doing the following; 

1. Create a new deduction template called "Adjustment to Other Income". Ensure that the type is standard and the GL account is what you've mapped to the commission payable control account as shown here: 

Because Other Income paid to the Agent does not hit any income accounts for the Brokerage it simply sets up a commission payable for the amount due and clears out the commission payable once you've paid the agent. The accounting is very simple. 

2. Add the deduction to the deal in question.

If you have OVERPAID the other income to the Agent you'll add this new deduction to the Agent as a negative amount which will result in an invoice to the Agent to recover those funds. 

If you have UNDERPAID the other income to the Agent you can add this as a positive amount which will result in a bill to pay the Agent the additional amount owed. 

Let us know if you have any questions! 

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