For Year End Close, you have the ability to view 1099/T4 data from Closed Transactions for the year. In the Accounting Applet, you can not only view the data, but export the overview report and agent details that include a list of Transactions that contributed to the income, as well as enter adjustments and add new 1099 income recipients who slipped through the cracks.

• Leaders with the following roles have access to this data: OP, TL, ATL, MCA, AMCA.

To view, export and add adjustments to 1099/T4 data in CommandMC: 

• Add New Recipients
• Add an Adjustment
• Download 1099/T4 Details for an Agent/Entity
• Export the Year End Close Overview Report
  
  

Access

1. Log in to https://agent.kw.com with your KW login credentials.

2. Click CommandMC, at the top of the page.

3. Click the Accounting icon, , on the left side of the page.

4. At the top of the page, click the Year End Close tab.

5. At the top left of the page, you can use the Year drop-down to switch the data you are viewing. You will also see two Commission columns which tell you whether the recipient is an agent (Associate Commission) or co-broker (Broker Commission) who was paid Commission or for something like an outside referral.

• As we get more years closed, you will be able to switch to older years to pull any data you need.
• The Associate Commission column includes agents who were paid individually, or paid through the corporation they have set up in their KW Profile.

Add New Recipients

If you need to add a new recipient (If the recipient is already on the list, see the next section for info around adding adjustments to entities who are already listed), you definitely can. Ensure you consult your CPA and confirm that the income you will enter is 1099 eligible for the Market Center (non-employment income that totals under $600 for the year does not need a 1099 entry):

1. At the top right of the page, click + Add Recipient.

2. Use the drop-down to select either Agent or Broker, and then search for and select the recipient.

• Agent - choose from a list of associates on your Market Center Roster.
• Broker - choose from a list of Co-Broker Vendors that pulls from your Vendor Directory, in the CommandMC Administration Applet.
  • • If you can't find the Broker Vendor you are looking for, check the Vendor Directory and you might need to create them as a Vendor, before returning to add as a recipient.

3. If you selected an agent, you will see a Tax Entity appear, where you can select whether the adjustment amount will be paid to them as an individual or as their corporation.

4. Enter the adjustment Amount, and a Reason for the adjustment.

• You can only enter one adjustment per entity. You have a 250 character limit, if you want to type an itemized list in the Reason field.

5. Click Add Recipient.

Add an Adjustment

1. Click on the Recipient's Name you want to add an adjustment to.

2. At the bottom left of the page, click Add, next to the Adjustment field.

3. Enter the Amount of the adjustment, and the adjustment Reason.

• You can only enter one adjustment per entity. You have a 250 character limit, if you want to type an itemized list in the Reason field.
• You can enter a negative amount, in an adjustment. You can use this to transfer income by removing income from one entity and adding income to another.
• In the example below, I enter two adjustments, one negative and one positive, to move the income from the individual and filing it under the LLC.

4. Click Save.

Download 1099 Details for an Agent/Entity

1. Click on the name of the associate or entity.

2. You will see each transaction that contributed to the income, the adjustment amount (bottom left of the page), and the totals at the bottom. Click Download Report, at the top right of the page.

The file will download to your computer, and it will pull up in your browser. Here, you will see all of these details in a printable/shareable PDF format.

Export the Year End Close Overview Report

1. Before we download the full Year End Close Overview report, we need to prepare Excel to receive the data properly, without auto-converting the data. Open Excel, without opening a spreadsheet, then click Options.

2. Select the Data category. Next, find the Automatic Data Conversion section, and uncheck all of the settings underneath. Click Save.

3. Now, we need to go back to the Accounting Applet. At the top right of the page, click Export .CSV.

4. Once downloaded, you can open the report in Excel and see the Year End Close overview. 

• Be careful when sharing this file. The TIN column (column 1) includes your agent's Social Security Numbers, and should be removed before sharing.
• You might see strange formatting for some of the data. As soon as you open the column width, you will see the full, correct data.