All reporting is filter based, so each report can be generated for any date range, can be based on Closed or Pending transactions, can be based on Agent, Teams, Offices or across the Brokerage as a whole.
This list is not exhaustive of the reporting offering.
Deductions - Use this report to view which fees or deductions have been applied to transactions that have paid out and closed. You can filter by the type of fee, the agent or both for a more targeted review. You can use date filters and export the file for accounting reconciliations.
Deduction Caps - This report will return a list of Agents, the fees that have been assigned to their profile and where they are at in terms of levels within the range that the fee is calculated on. It will also let you know if the fees have reached their cap for the current period and if any of those fees were over-riden from the default values.
Deposits - This is a list of all deposits by bank account for a certain date range. The report will assist you with bank reconciliations in Xero.
Franchise - This is the Franchise report which you can use to submit to statics to your Franchise. It includes deal details as well as performance metrics for your agents. (Export / Download)
IFranchise - This report you can use to submit stats to your your iFranchise regional reporting or use our iFranchise integration (some rules apply). To learn more about our iFranchise integration, click here.
Production - This report will return total agent production information for the period selected including the commissions, volumes, end counts & deal details for each transaction paid out in the date range selected. (Export / Download)
GL Transactions - This report gives you the ability to review GL accounts in Xero for financial transactions related to deals.
Income - When your Brokerage fees are set up, Loft tracks which of the fees deducted from commissions contribute to Brokerage Income. You can view projected company income by the type of deduction or contributions by agent or office. Uncovered expenses compares the agents outstanding AR balance and their net payables to highlight any agents without enough deal flow to cover their current fees.
Performance - (History and Projections)This report allows you to preview or export the payroll information for agents ranked on commissions, end count, net pay or sales volume. Based on your filter settings your export will include a total per agent for the period as well as the deal by deal detail. You can also choose to view deals that have paid out (completed), deals pending payouts (open deals), or a historical view of pending payouts (Payouts that were/are unpaid for a deal created within the date range.) If you have started using Loft47 mid year, and have YTD Adjustments, leave the Deal Status field blank to see ALL figures YTD for that agent.
Subledger - This report is primarily used for Trust / Escrow bank accounts, where the brokerage holds funds per deal. Use this report to verify your Trust balance, to be compared to the Xero Liability balance.
Tax Returns - This report is used to generate annual 1099 or T4A reporting for your brokerage.
Transfers - This report will summarize all bank transfers between Brokerage accounts for the date or range provided. Use this report to determine how much to transfer daily or compare to bank transactions in Xero.
Detailed Earnings Report - A detailed list of transactions paid out within a specific time frame. This report will return commissions earned, a breakdown of the fees deducted and will break out any sales tax collected or charged to the Agent. Agents can use this report as an earning summary that can be provided to external service providers.
Creating A Deduction Most deductions are straightforward and can be created by following the tooltips next to their corresponding fields. Important Tip when setting up a new Deduction Template! It's important that whatever type you deduction you set ...
** Loft47 generates information to create T4A information, we do not file this information with CRA. See filing information here. For the full tax preparation checklist, click here Tax Settings (Turn on Reporting) Turn on your reporting by adding the ...
Determining How you will Report Whether you're reporting Gross, Full or Partial NET Commissions, you will have to adjust each deduction accordingly to how you will be reporting. Here's the definitions for all three ways to report: Gross Commissions ...
Before creating your Franchise upload, ensure each Agent & selling Broker has their RE/MAX Master ID entered in their profile's Internal ID field. Also confirm your brokerage's RE/MAX Office ID has been entered into the Office profile (external ID ...
Loft offers three options for reporting to the Franchise for Century21 Canada. Franchise report which summarizes all the data for the time period requested Closed deals report which shows all the data from transacted deals for the time period ...