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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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 ...RECA Trust payout for Outside Brokerages
The Real Estate Council of Alberta(RECA) may dictate Outside Brokerages to be paid in 2 steps and this article provides help on how to deal with this scenario in Loft. In this example the Brokerage holds $5,000.00 in Trust and will need to pay this ...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 ...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. Scenario 1: Agent Overpayment - Agent owes the Brokerage funds In scenario 1, either the original commission and allocations can be adjusted down which creates a ...Reversing Agent Payouts
IMPORTANT, please read! Fixing deals are easy but there are a few key things you have to keep in mind. One, make sure you always follow what happens at the bank level. If you fix your deal but have changed any of the amounts that have cleared your ...