In this section, you will record the Direct Withdrawal entry for the “Remit to KWRI” total shown on the Profit Share Calculation Report.
- Click Purchases.
- Click Pay Bills.
- Select Keller Williams Realty International from the list of vendors.
- Verify that the account is correct. For the check number, use “DWMMYY” (DW for direct withdrawal and the month and year for which you are transmitting). Set the pay date to the last day of the month.
- Verify that purchases exist for Profit Share and Franchise Royalty and for the Marketing Fee, Technology Fee, NAT, Consortium Fee, KW Commercial Fee, eEdge Fee, KW Cares, KWConnect Fee, and Other (Family Fund). This total agrees with the “Remit to KWRI” total found on the Profit Share Calculation Report. Click Check Already Printed.
- Click Pay All to apply all purchases to the check number DWMMYY. Click Record.
By entering a paid date of the last day of the transmittal month, the KWRI invoice will not cause an Accounts Payable flag on the automated financial review.
KWRI will actually withdraw funds on the seventh business day of the next month, the charge will show up on your bank statement similar to “Keller Williams MCUPOOL Realty Inc"