How do I account for Agents commission?

To record the Agent's commission so that it can be deducted from the deposit and the balance be made available for the vendor on completion, or a cheque drawn to the agent:

1.  Ensure that the Agent Details have been completed

2. Ensure that the Deposit Breakdown in Conveyancing Details has been completed

If the deposit held by the Agent is less than the commission amount:

  • A cheque will generate in the cheque direction list for the shortfall (Commission less Deposit)
  • The paid amount is accounted for in the Settlement Statement as retained by Agent

If the deposit held by the Agent is more than the commission amount:

  • The paid amount is accounted for in the Settlement Statement as Commission amount retained by Agent and balance to the vendor.

If you require any further assistance, please contact our Support Team on 1300 33 55 53 or email support@smokeball.com.au

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