Question: We have a company that will pay agents in advance for their upcoming closings for a fee. After the closing, the Market Center is to reimburse the company. How do I do this? The full commission amount should be credited to the associate and should count as income for him or her.
Solution: Setup a Deduction, payable to the commissions advance company in WinMORE through Enter Deductions. The DA will still be for the full commission, all applicable splits are paid, and the reimbursement to the company will come out of the associate’s net check when it closes. If the commission advance company received a check from the title company, however you cut the check to your associate, WinMORE will still expect the full commission to come to the Market Center since this is a deduction from the Associate. Therefore, you will need to use the reconcile box and enter the amount of the advance with a note that the advance was paid from closing at the title company. Before approving advances, make sure the draw amount does not exceed the agents portion of the commission.