In this section, you create the invoice to record payment of fees to KWRI. During the transmittal process the invoice will be updated with additional fees. In this initial invoice you will add the amounts for:
- Marketing Fee
- Technology Fee
- NAT – Associate Application Fee
- Associate Tech Fee
- G Suite Fee
- KW Commercial Fee
- KW Cares
- KW Kids Can
- KWConnect Fee
Create Invoice
- In AccountEdge
- Click Purchases
- Click Enter Purchases.
Complete the new purchase. - From the Vendor drop-down, select Keller Williams Realty International.
- Make sure the date is the last day of the month for the current period.
- Enter the fees you’ve identified. Apply each fee to the correct account.
- Click Record.
Fee |
Account Number |
Instructions |
Associate Application Fee (aka New Associate Fee) |
9-9010 |
Review the New Associates Report printed with the EOM Reconciliation reports. Multiply the number of new associates by $25. Verify that $25 has been collected from each new associate and coded to 9-9010 Associate Application Fees in AccountEdge. |
Technology Fee |
6-5040 |
The Technology Fee is a standard $79.00 a month per Market Center. |
Marketing Fee |
6-1520 |
The Marketing Fee is a standard $83.33 a month per Market Center. |
KWConnect |
6-9100 |
Enter the KWConnect Fee ($500), also enter the tax if applicable. |
Associate Tech Fee |
2-2150 |
Review the Associate Tech Fee Report printed with the EOM reports. Enter the total at the bottom of the report. |
G Suite Fee |
2-2160 |
Print and Review your Associate List for status A and PO to determine the number of associates the market center will be charged for ahead of completing the Profit Share Calculation update during each transmittal. NOTE: this is the former eEdge account and will display on your KWFS as eEdge. |
KW Commercial Fee |
2-2170 |
Download the Commercial Associate Fee Billing Report from myKW Reports under the MC Financials folder. Enter the amount on this report. This amount should match the balance found in the General Ledger Trial Balance for the Commercial Fee amounts that were billed to your associates. |
KW Cares KW Kids Can |
2-4010 |
Review the KW Cares / KW Kids Can Report printed with the EOM Reconciliation reports. Enter the total at the bottom of the report. |
Recurring Transactions:
For time savings you can also create a recurring transaction that you use each month with all the individual items already on the purchase.
- Enter the transaction details in the purchases window
You can leave the amounts blank as you will add them when you use the recurring transaction. - Under Actions, Click Save as Recurring instead of clicking Record.
- The Edit Recurring Schedule window appears.
- Select Continues Indefinitely
- Enter Alert option of your choice
- Select Use the next sequential number as the Purchase #
- Uncheck Save my changes when I record this recurring transaction
- Click Save
To Use the Recurring Transaction:
- Click Lists
- Recurring Transactions
- Select the Recurring KWRI Invoice you have saved
- Click Use Recurring
- Update the amounts as needed and save the invoice.