Year End Preparations – It's never too early to start your year end preparations.
1. Verify your Associate names, SSN, addresses, anniversary dates & cap amounts. There are great Ad Hoc reports in the Other – Ad Hoc Reports – Report Library – Associates folder to easily pull this information for review.
2. Verify your Team & Group info includes all Team/Group members and their Awards totals are accurate. On mykw.kw.com - Reports, review the Team Awards reports under "Awards" to confirm all DA's have been applied to the Team/Group. Keep in mind that any Team/Group formed mid-year will only have Award totals since the date of Team/Group formation. Also if you have a Team/Group that has transferred this year from another KW Market Center, it is necessary for you to input Transfer GCI & Units into their Enter – Team & Group Award record. Also review the Team & Group reports under Reports - Teams & Groups for details.
3. Verify your posted DA's. You can print a DA list for Posted DAs under the Print menu. Have your Associates confirm the information, including GCI and check amounts.
4. In AccountEdge, verify your Vendor 1099 payments in Purchases – Print 1099s & 1096. Also it is very important that when you pay Associate commission checks in AccountEdge(from WinMORE postings) that you not pay those with a Vendor card marked to track 1099 income. WinMORE takes care of tracking all business it posts for 1099 purposes. The only amounts you should be tracking for 1099 income in AccountEdge for your Associates are amounts that do not flow through WinMORE. For example, training fees, BPO fees, Home Warranty Rebates – these may not be posted in WinMORE yet they do count for 1099 income so a Vendor Card in AccountEdge must be used for these items. In AccountEdge go to Card File – Card List – Vendor, open a card & under the "Buying Details" tab is a "Report Payments on 1099 as:" field & this is what causes AccountEdge to track payments for 1099.