Before you select “Close Deal” icon, we encourage you to double check the transaction for accuracy, including any interest calculations and ensure you are logged into QuickBooks®.
Interest and its calculation details can be found via Deposit tab / Interest panel of transaction. The Balance Due will be the interest paid to the contact when the transactions closing is processed. The memo field can be used to disclose the details of the deposit and/or its’ disbursement.
If an escrow/trust deposit was attached to the transaction in error, you will receive a prompt advising, “There are trust monies attached to this transaction. If this is not correct, you must disburse the trust deposit before you can close this transaction.” Select OK to confirm receipt of warning and edit the transaction accordingly.
To close a transaction, you will highlight the transaction from the Home Page and select the Close Deal icon located at the top right of your screen.
If sales associate owes the brokerage money (sum of Invoices in QuickBooks®), you will receive a prompt indicating the amount. If there is a negative sign in front of amount, this means that the brokerage owes the sales associate money, so please ensure you zero-out amount in the Agent Actual Payment Amount field. Select X at top right of Agent Expense Update prompt to close.
The only button enabled is Review and its purpose is to ensure the amounts you expect flow in/out of the appropriate bank accounts. If they do not, close this window and edit the transaction.
Review Closing Report
- The Review Closing report is a printable document of all the monies as integrated to QuickBooks® when a transaction is closed and processed. The report includes deposits, checks, withholdings/garnishments, manager/assistant bonuses, fees, agent expense deductions, advance repayments, journal entries and all relevant taxes.
- Ensuring the accuracy of this report is up to you. If there are discrepancies or missing values on this report – DO NOT process the closing. You will need to review the details of your data entry to ensure that all of the information has been entered correctly.
Once you have validated all of the amounts displayed on the Review Closing Report, select Process button.
Once the integration is completed, you will receive a system confirmation prompt, “Transaction processed and synched to Accounting successfully.”, select OK to close the confirmation window.
If you see any red errors, select the preview icon and contact your Support Team for assistance.