Partial Payout
To partially pay a deal, head to the payout commissions page and expand the line item to override the commissions and fees. Once you pay it out Loft will create a new payout line for the balance owing.
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Making changes to commissions or deductions after the payout to the agents
In this sample deal, the transaction is closed and payments have been made out of Xero or QBO. Scenario 1: Adjusting an Agent Overpayment (via Deductions) To correct an overpayment, you can either adjust the original commission and allocations ...Property Management Deals
Loft does not claim to be a property management program, however some brokerage do run their PM deals through Loft. Here is a sample of what you may wish to do, which is run the $ funds through the Property Management deal using the bank accounts ...Paying Out a Deal
Paying Out a Deal to Your Agent All internal agents and brokers must be paid out on every deal, even if the payout is $0. This ensures that all deductions tied to the agent are properly recorded. Unpaid deals will not post deductions to your ...Beginning Balance/Mid Year/Year End Commission & Deduction adjustments
When switching Back office software Mid year we require to add ytd adjustments for agents commissions, production and fee information in order to have accurate 1099 and T4A information. This is also the case for agent's switching from being payable ...Reversing Agent Payouts
IMPORTANT, please read! Fixing deals is usually straightforward, but there are a few key things to keep in mind: Always follow what has already been posted to the bank. If you update a deal after funds have cleared, it may cause reconciliation ...