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