Adjustment DA - Refund Company Dollar and Royalty Over-payment – KWMCAngel

Adjustment DAs are used to correct production on a DA that was posted in a prior month. If the DA is in the current month, you will just correct/update the original DA. An adjustment DA is like doing a journal entry where when you take the initial DA and the adjustment DA and add the numbers together, you should end up with the final distribution of commissions.

Adjustment DA to Refund Over-payment of Company Dollar and Royalty

Create New DA
Enter the first day of the current month for both the Closing Date and the Contract Date
Click the Adjustment Type button and choose Regular
Tab to the “Change to DA #” field and enter the original DA number
Tab and enter “refund of company dollar” in front of the street name
Click Save/Part 2
Enter Zero for the price, Listing %, Sales %, and Units
Click on the Associates on this DA button and add the associate to the DA
For Type, enter S for Sale
For Class, enter P for Property
For Agency, enter B for Buyer
Tab through and enter the amount of the refund in the Associate Commission field
Zero out any E&O insurance that populates
If royalty was overpaid, enter the royalty amount as a negative amount
Continue to tab through and zero out any deductions or donations that automatically populate
Associate check amount should be a positive amount showing the amount of the overpayment
Click OK
On page 2 of the DA, enter 1 in the Check For field
Enter 0 for check number and 0 for amount.
Click in the reconcile box to let it populate the amount of the refund
Post the DA and save it.
You may get a popup message that says Error DA_VERIFY. This is checking that you truly want to force royalty in the transaction. Click Yes.
Print the deposit slip in WinMORE and import it into AccountEdge
Go to Banking > Spend Money > and write the associate a check using the 5-0060 (Clearing Commissions) account number from the cash account that you normally write your commission checks from

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