IMPORTANT: The feature discussed in this article may not be enabled for your CORE BackOffice account.
Once the commission disbursement is created for Agents and Vendors that are set up for ACH, the payments may be initiated to them on the ‘Pay Agent’ and ‘Pay Vendor’ tabs of a transaction.
To pay an Agent, go to the ‘Pay Agent’ tab of the transaction and click ‘$Pay Agent - Payment Gateway’
A five-minute countdown will begin to complete this payment, this is visible in the top right corner.
Select the funding source. Once selected, the delivery speed set for this transaction will be visible. The delivery speed, and the party that will be paying, may be updated at this time if needed.
Click ‘Confirm’. Then, enter the 2-Factor Authentication code to initiate payment.
There are transfer minimums and limits. The minimum is $100 and the maximum is $50,000. If these requirements are not met, the following messages will appear when trying to submit payment.
TIP: If the payment to the agent is over $50k, a workaround can be used to split the payment on the disbursement.
To split the payment, first, go back to the commission disbursement page and under the Agent’s ‘Post Commission Credit/Debit’ section and click ‘+Pay Additional Agent from _______’s Commission’.
Name the item, and choose the same Agent’s name to pay the item to, for the $50k maximum, and Save the item, then update the disbursement.
Now, you may go back to the ‘Pay Agent’ tab and there will be two spots to pay your Agent, one for the $50k maximum and the other for the remainder.
To pay a Vendor via ACH, the Vendor will first need to be set up for payment transfer with a bank account added.
If there are no eligible Vendors to pay the following screen will appear, with a tooltip showing the requirements.
There must be a debit assigned to the Vendor in the ‘Pre-Commission Credit/Debit’ area, and this debit item must have the ‘Include this credit/debit in the Total Due to Brokerage?’ set to ‘Yes’.
If these conditions are true, the Vendor will be available to pay. Click the ‘$Pay Vendor - Payment Gateway’ button.
There is only one delivery speed for Vendors: 3 business days. This will have a $5 charge that must be paid by the Broker.
For example, if the Vendor is being paid $150 on a transaction, then $155 will be taken from the Brokerage’s bank account.
Have more questions or need assistance? Please reach out to Customer Support via the blue chat bubble to the right or by emailing firstname.lastname@example.org!