Payment Processors
Zum Rails Onboarding Application
Zum can offer you such great transaction rates because it underwrites the business and provides you with your own merchant account. Because that comes with some risk, Zum will also ask for detailed business information and estimates of the volume of ...
Getting Started with ZUM RAILS
Zum Rails offers an excellent alternative for paying and receiving funds. Now available for both our USA and Canadian clients! They provide low transaction rates and a dedicated portal to expand and enhance your options for Agent billing. They offer ...
Payment Processing - Troubleshooting & FAQ's
There are a few common issues that may occur when using a payment processor that require troubleshooting. Locked payment status - this may occur if there is a delay between clicking the Payout creation in Loft47, and the time it takes to send / ...
Paying Mentor fees, Third Party payouts, and Agent Savings with Payment Processors
!!Important: Please read before proceeding. Third-party payments from payment processors CAN NOT BE REVERSED, so please make sure everything is correct before you finalize a payment. Loft47 offers several options for processing payments and ...
Deposits using payment processors
Request a deposit via Payload or Zum Rails. You can use either Zum Rails or Payload to pay your Agents. In this help article, we walk through the process using Payload; however, the workflow will be the same with Zum. Please note that requesting ...
Paying out and taking payments - Payment processors
Pay your Agents: You can use either Zum Rails or Payload to pay your Agents. In this help article, we walk through the process using Payload; however, the workflow will be the same with Zum Rails. Payload Turn around times All payment processed after ...
HOW TO SET UP BANK ACCOUNT AS AN AGENT
In Article Navigation can be found to the right of this article or via the buttons below Setup Account Select Default Account Unverified Status Turnaround Times Set up Account In Loft47, your Brokerage will can use either Payload or Zum to pay your ...
Getting Started with PAYLOAD
In Article Navigation can be found to the right of this article or via the buttons below Fees Set Permissions Setup Account Map Account Loft47 has embedded the payload.co payment gateway to offer direct payouts to agents for their commission on ...
Popular Articles
Adjusting your tax settings
Adding/Updating Brokerage Tax ID Head to your Brokerage menu (the menu with the gear cog), click Edit Settings Add/update your Brokerage's Tax ID Turning on Tax Reporting In your Brokerage Menu>Settings, scroll down to the Allowable tax year field ...
Best Practices for Month End Bank and Subledger Reconciliations
There are 4 steps to completing a month end review and bank reconciliation. Scroll to section 5 for Tips to troubleshoot differences. 1. Complete the bank reconciliation report in Xero. 2. Run the Subledger report in Loft. 3. Run a Balance Sheet ...
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 ...
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. * Important, if you're backdating your partial ...
How to Enter Commissions Correctly
How to use the Commission Page correctly Sales Price Use either the % or Flat Fee $ fields, if using the % fields, you can then use the Flat Fee/Bonus field to add an additional bonus No Sale Price Must use Flat Fee $ field Each Commission Side ...