Agent Account Balances

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 the Account Balances Section 

In a Deal

Next to the Agent’s name in the Deductions page


Agent Account Balance Overview and Export:
You can view all agents' accounts receivable balances at once or download the Agent AR report by following these steps:
1. Go to Reports> Brokerage Income Report.
2. Select the required date range and choose Uncovered as the filter. This will display the agents' outstanding account balances.


3. If needed, download the report. The spreadsheet contains four tabs.
Please review the Uncovered tab for the agents' accounts receivable details.

Recover Outstanding Expenses

  1. In your Agent’s Deduction, click ‘New’ button
  2. Add the Agent A/R Deduction from the dropdown menu
  3. Add the amount you want to recover in the Override field
  4. 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.

When the deal is paid> the deduction will generate a Credit Note/Credit Memo in Xero/QuickBooks Online.
Apply the Credit Note/Memo against the agent's invoices to reduce their Outstanding Balance in the Accounting Software.

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.