When your Market Center has entered into an agreement with a Mega Agent Office (MAO) in which the Market Center has agreed to compensate the Mega Associate by remitting a portion of the Company Dollar to the Mega Associate, use the following resource to learn accounting best practices:
WinMORE
When entering the transaction in MORE you will complete as normal. Calculate the split, fees and royalty calculation as stated in the agreement with the Agent in accordance with the onboarding paperwork.
- You will calculate the amount owed upon closing in MORE.
AccountEdge
Depending on the agreement with the MAO, you will need to track the amount collected per transaction with the MAO Associates covered in the agreement. You will then remit the payment at Close/Weekly/Monthly as agreed:
1. Create a new expense account to track the amount paid to the Indie Mega Associate
2. Create the Mega Associate as a vendor in AccountEdge.
3. Calculate the amount owed (outside of AccountEdge).
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Per Transaction:
- You will calculate the amount owed upon closing in WinMORE.
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Click here to learn how to print and review End of Month reports in WinMORE.
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Click here to learn how to print and review End of Month reports in WinMORE.
- You will calculate the amount owed upon closing in WinMORE.
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Weekly/Monthly:
- Print the transaction report - Closed Sales Volume by Associate
- Export to Excel
- Calculate the amount owed
- Have someone independently verify the amount calculated
4. Book an expense for the amount paid to the Mega Associate
5. Pay the amount owed based on your Market Center’s payment policy
Additional considerations
1. Identify the the Agents covered per the agreement:
- Track and verify Mega Associates applicable to this arrangement
- Share with interested parties - MAO and MC Leadership
- Add verification steps to the Weekly Soft Close Checklist