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Adjustment DA - Company Dollar Transfer (Receiving)

Updated

In an Associate transfer situation, please consult the KWRI Policies & Guidelines 4.9.1.35 Transferring regarding the cap amount owed to the originating market center from the receiving market center.

The tracking system described in Tracking Caps Across Multiple Market Centers will facilitate confirmation of

Receiving Company Dollar

It is very important for MCAs to receive company dollar in the same period it has been issued to prevent profit share discrepancies. Always process company dollar transfers on the day you receive the transferring DA from the sending market center; do not wait until after transmittal.
  1. When you receive a check and the Royalty Anniversary DA report, prepare an adjustment DA as follows:
    1. In WinMORE, click Enter and select DA.
    2. Enter the same date of the current month for both the closing and contract date.
    3. Select Adjustment Type “Co$ Transfer.”
    4. Under Type enter NS for Note Sale.
    5. Under Class enter O for Other. Under
    6. Property Code enter R for Resale.
    7. Under Street # enter a two-digit month and year; for example, for January 2009 you would enter 200901, February 2009 would be 200902, etc.
    8. Under Street Name enter “″Transfer CO$ from MC # 9999″” (9999 being the number of the Market Center that Company Dollar is received from). This allows you to easily search for this DA later.
    9. Tab through and click Save/Part 2.rec_1.png
  2. Use the Company Dollar Anniversary report sent to you from the other market center to receive Company Dollar into the system.rec2.png
  3. On Part 2 of the DA:
    1. Enter $0 for the price.
    2. Enter the amount shown for GCI for the DA “Company Dollar from MC# 9999” as the sales commission dollar amount. (In this example, $1000 is the amount of Company Dollar owed to this Market Center.)rec3.png
  4. Click “Associates on this DA” and enter the Associate’s ID.
    1. Tab through the DA setting the DA Type Code (Sale) and Class (Property) and Agency (Buyer).
    2. If the Gross does not populate, enter the amount of Company Dollar (the amount from the commission field on Part 2).
    3. Enter 0 for the associate split.
    4. Tab through and, using this example, you will see a $1,000 Company Commission and a $1,000 in the Pay to KW (Company Commission plus Royalty).                                                                  Note: Be sure to zero out any E&O insurance or Deductions. These were paid on the original DA posted at the sending Market Center.Txfr_Co_Dol_Receive.png
  5. Post all the Adjustment DAs for these Company Dollar transfers on the same deposit number.
    1. Enter Check for: 1.
    2. Enter the check number and check amount.
    3. Print the deposit slip and import into the accounting software.  rec5.png
  6. If the Associate involved was not already capped on royalty, this process will create a royalty exception. As long as the process was followed correctly, the exception doesn't mean you did anything wrong, just that you had a legitimate case where royalty was not collected on the GCI. Follow the instructions in How to Request a Franchise Royalty Adjustment to submit your request.
  7. If the receiving Market Center receives Company Dollar for an associate that has capped at the transferring Market Center, they should contact MCA Support by completing this form for further instructions.

 

Special Instructions for Launching market centers

  1. When you receive a check and the Company Dollar Anniversary DA report(s), prior to booking the receipt of Company Dollar, confirm the cap amounts for all associates with closings at the host Market Center.
  2. Prepare a separate adjustment DA (per the above instructions) for each month of Company Dollar transfer that the MC is receiving from incubating in the Host market center. You can put multiple agents on one DA.
  3. All Company Dollar transfers received prior to the transmittal month will be booked on Deposit 2 in WinMORE.
  4. The Company Dollar Cap in your market center will be affected by the amount of Company Dollar transferred. In order to keep track of this, compare the full amount of company dollar paid in the other market center to the cap amount set in your market center to ensure the associate does not overpay on company dollar.
    1. Open the associate’s record and adjust the Company Dollar cap as necessary.
    2. Click Save

Tracking Caps Across Multiple Market Centers

 

For instructions on sending company dollar click here

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