Learn how to set up different types of deductions for the commission module.
As of 4/2/17, the "Generate CDA" option has been renamed to Manage/Update Commissions
Master admin can easily set up deductions on the Deductions page. To access the Deductions page:
- Click your name in the upper right corner then "Admin / Settings".
- Click “Deductions Types” from the Financials section of the left menu. Once there, you’ll see the ability to add deduction types.
These are various types of deductions that would come out of an agent’s commission or the brokerage's commission that would be paid to a third party. Some examples of deductions for your office might be charitable contributions, a home warranty, seller or buyer credits, or paying a transaction coordinator or an assistant.
Once you’ve setup your deduction types, they will be available on the Manage Commissions page.
To learn more about the Commission & CDA Settings page, see: Commission & CDA Settings →
You can add deductions to a specific transaction while on the Manage Commissions page. Once you’ve setup your deduction types , they are accessible from the “Enter deduction for brokerage” and “Enter deduction for this agent” drop-down menus.
There are two parts to specifying a deduction:
- Enter the deduction amount in the appropriate field.
- Specify a payee (whom the deduction should be payable to). Enter their name and contact information in the Payable To field.