Other Income - Adding Non Commission Income to Agent and Brokerage Payments

If your agents or brokerage are receiving income that is not classified as commission you can add this additional income to the Other income section on your deal's allocation page

Head to your deal's allocations page>navigate to the section called Other Income. 

Click New button and choose your payee, please note that payee must be added to your people's page first.  Leave the payee field as is if the payee is your Brokerage as this is the default.

You can also flag the income amount as being paid externally if the Title, Escrow, or Legal company is paying it directly to your parties , do this by checking the 'Paid Externally?' checkbox.

For agents being paid out this other income, this amount will be included with any commission. payouts.

For Brokerage & any other party payout, it will be posted separately. Pay and post as usual!

• Related Articles

• Accounting Entries for Other Income to the Brokerage

  Accounting Entries for Brokerage Other Income Until July 2nd, 2019, if your Brokerage was in receipt of income designated as 'Other Income' on the allocations page, Loft would post two entries for accounting requirements to record the transfer of ...

• Adding Referrals for Non-licensed Third Parties

  If a referral is made to a third party that is not a licensed Agent or Brokerage you will be using the "Payable" deduction accessible through the deductions menu.  Most users set this up as a payable type and name it "Third Party Referral". This will ...

• Adding an agent

  You have two ways to add an agent to your brokerage. Add an agent from the Brokerage's People Head to your Brokerage menu>People page Click 'New' Make sure Type is Agent, you chose their office, Add their name, and if they are paid out as a ...

• HOW TO SET UP BANK ACCOUNT AS AN AGENT

  Set up Account In Loft47, your Brokerage will can use either Payload or Zum to pay your commissions quickly via the Zum Rails or Payload integration. Either integration works the same way and you can set up your account by following these ...

• Adding People to a Deal

  After you've created a deal, you'll want to add people like sellers/buyers, escrow/lawyers and referrals to outside agents. To manage people on the deal and their roles navigate to the people page. Access Levels to the Deal When you add someone to a ...