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[CORE BackOffice] How To Close Out A Transaction
[CORE BackOffice] How To Close Out A Transaction
Updated over a week ago

To close out a transaction in Brokersumo:

First, go to Transactions> View Transactions

You will have a list of all your active transactions.

Find the address you want to create the disbursement and pay the agent.

In the transaction screen you will see the Task Checklist, these are the items that need to be completed to close out a transactions.

The first step is to create the disbursement.

At the top click on the Commission Disbursement tab.

You will be taken to the disbursement, if you need to add or remove fees you can do that here.

For more information on adding fees to a disbursement please click here.

The top section under commission breakdown is the information pertaining to the broker gross income and any debits or credit coming out of the broker's gross.

Next, you will see the Agents commission- according to the commission plan they have been assigned. If they have any credits or debits you will see those here.

The bottom section is a final breakdown of all the numbers. You have:

The brokerage gross commission
The brokerage net commission
The Agent's net commission
Any debits or credits from the above areas will also be listed here.

Verify the numbers are correct and click on Create Disbursement- this will save the financial information in the system.

The next page gives you the option to choose any line items you would like to have printed on the disbursement page. 

You have the option to preview and save the disbursement and email the disbursement to either the title/attorney company, the Agent, or a custom email address.

For more information on emailing the disbursement please click here.

Scroll back to the top of the page and click on the Transaction Information page.
You will see now the disbursement created box is checked off and the progress bar is now at 25% complete.
The next 2 items Disbursement Approved/Sent to Escrow are for manually tracking where the transaction is in the closing process, you can filter by these progress numbers on the view transaction page.

The last step is to pay the agent.
Go to the Pay Agent tab at the top and click on Pay Agent

On this screen, you have the option to mark as paid, if you are paying by check or some other means. Or if the Agent is paid at Closing Table you can mark either one.
If you are utilizing the ACH Transfer option you will have the option here to pay via ACH.

For more information on paying via ACH click here.

Once you have paid the Agent either by marking it paid, paid at the closing table, or paid via ACH, go to the Transaction Information page and you can see the transaction is 100% complete and closed out in the system. If you are utilizing the Quickbooks integration you can click on 'Sync to Quickbooks' to have it synced into your Quickboooks.

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