Agent Account Balances
If you routinely Invoice your Agents for expenses, Loft makes it easy to collect outstanding expenses within a deal.
View Agents Account Balances
Your Agents Balances can be viewed in two places.
On their Profile
In a Deal
Next to the Agent’s name in the Deductions page
Recover Outstanding Expenses
- In your Agent’s Deduction, click ‘New’ button
- Add the Agent A/R Deduction from the dropdown menu
- Add the amount you want to recover in the Override field
- Click ‘Update’ to save your change
Please note, this deduction can be named anything so if you’re unsure what deduction to use, you can look for a Credit type deductions in the Deduction Template page under your Brokerage menu and this will be the deduction you will use in a deal.
How this Deduction works
When the deduction is added to a deal> the deduction reduces the Commissions payable to the Agent.
Why is my Agent’s AR not Displaying?
If an agent has not yet been paid on a deal, the Xero/QuickBook Online invoices created will not update the A/R Balance in Loft, as the Contact, in Loft, has not yet linked to its respective contact in the accounting software. To update the A/R balance, you must do a hard sync in Loft for a two-way sync. To Hard Sync, head to Integrations>Xero/QuickBook Online>Activity page and click the blue ‘Sync’ button.
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