Setting up & Managing Mentor Fees

Setting up & Managing Mentor Fees

A mentor fee is defined as fees paid to an internal (or mentoring) Agent as a deduction generated from another Agents commissions. 

Previously Agent Payees created through deductions were not associated with an agent account. 

It's now an option to set a default payee in your payable type deductions! You can override any profile deduction to update the name of the payee on an agents profile. 

Once those fees get paid out to the earning Agent, you will then see them on that Agents profile as part of their annual reportable commission earnings. 

You can also override these payee names on the deduction page of the deals: Just navigate to the deduction sub-menu.  Click the change payee link in the Mentor Fee deduction.

Remove the Payee Name; this will open up the Payee (Agent) pulldown menu, chose your agent's name from there.

1099s and T4A Reporting

To include Mentor fees in the 1099 or T4A you can head to the Brokerage settings page and check the option to include them. 

Deductions Report

The deductions report download will now indicate the payee name as well as if the fee is correctly linked to an Agent profile.

Select your payable or Mentor fees and export the file: 

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