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Create an initial KWRI Invoice for the Month

Updated

In this section, you create the invoice to record payment of fees to KWRI. During the Month End Close process the invoice will be updated with additional fees. In this initial invoice you will add the amounts for: 

  • Marketing Fee
  • Technology Fee
  • NAT – Associate Application Fee
  • Associate Tech Fee
  • G Suite Fee
  • KW Commercial Fee
  • KW Cares
  • KW Next Gen
  • Connect Fee


Create Invoice

1. Open AccountEdge.


2. Click the Purchases tab, at the top of the page.

new cmc ae purchases tab.png


3. Click Enter Purchases.

new cmc ae enter purchases button.png


4. Click in the arrow to the right of the Vendor drop-down (top of the page), select Keller Williams Realty International, then click Use Vendor.

new cmc ae select vendor.png


5. Click in the Purchase Date field and select the last day of the month, for the current period. A confirmation will appear, letting you know the date selected is after the current date, click OK.

  • We are setting this now, as it must be selected when we close the month and this way we don't have to worry about it down the line.
new cmc ae purchase date.png


6. Enter the fees (Acct#, Description, and Amount) that have been identified. Click Record, at the bottom right of the page, when you are finished. Once you are finished, ensure you send this new financial data to CommandMC.

  • The fees you enter here should match what is in the Month End Close tab, in the CommandMC Transactions Applet.
  • See the table below to find the Acct# references for each of the line items.
new cmc ae complete invoice.gif

 

Fee

Account Number

Instructions

Profit Share

9-0020

Review the KW Invoice in CommandMC and in the Fees Owed to KWRI, transfer the amount noted for Profit Share, if any, to the KW Invoice, account 9-0020 in AccountEdge. This is the money paid to the KW Profit Share pool by the Market Center.

Franchise Royalty

9-0030

Review the KW Invoice in CommandMC and in the Fees Owed to KWRI, transfer the amount noted for Franchise Royalty to the KW Invoice, account 9-0030 in AccountEdge. This is the amount of royalty paid to KWRI by the Market Center.

New Associate Fee

9-9010

Review the KW Invoice in CommandMC and in the Fees Owed to KWRI, transfer the amount noted for the New Associate Fee to the KW Invoice, coded to 9-9010 in AccountEdge. For details on each new Associate the Market Center is being billed for this month, click on "New Associate Fee". 

MC Tech Fee

6-5040

The Technology Fee is a standard $79.00 a month per Market Center.

MC Marketing Fee

6-1520

The Marketing Fee is a standard $83.33 a month per Market Center.
Connect Fee

6-9100

 Enter the Connect Fee ($500), also enter the tax if applicable.

Associate Tech Fee

2-2150

Review the KW Invoice in CommandMC and in the Fees Owed to KWRI, transfer the amount noted for the Associate Tech fee to the KW Invoice, coded to 2-2150 in AccountEdge. For details on each Associate the Market Center is being billed for this month, click on "Associate Tech Fee".

Gmail Fee

2-2160

Review the KW Invoice in CommandMC and in the Fees Owed to KWRI, transfer the amount noted for the Gmail fee to the KW Invoice, coded to account 2-2160 in AccountEdge. 

Commercial Fee

2-2170

Review the KW Invoice in CommandMC and in the Fees Owed to KWRI, transfer the amount noted for the Commercial Associate Fee to the KW Invoice, account 2-2170 in AccountEdge. This amount should match the Commercial Associate Fee Billing Report from myKW Reports under the MC Financials folder, and the balance found in the General Ledger Trial Balance for the Commercial Fee amounts that were billed to your associates.

KW Cares

KW Next Gen

2-4010
2-4020

Review the KW Invoice in CommandMC and in the Fees Owed to KWRI, transfer the amounts noted for KW Cares / KW Next Gen to the KW Invoice, accounts 2-4010 and 2-4020 respectively. 

 

Recurring Transactions:

For time savings you can also create a recurring transaction that you use each month with all the individual items already on the purchase.

  1. Enter the transaction details in the purchases window
    You can leave the amounts blank as you will add them when you use the recurring transaction.
  2. Under Actions, Click Save as Recurring instead of clicking Record.
  3. The Edit Recurring Schedule window appears.
  4. Select Continues Indefinitely
  5. Enter Alert option of your choice
  6. Select Use the next sequential number as the Purchase #
  7. Uncheck Save my changes when I record this recurring transaction
  8. Click Save

To Use the Recurring Transaction:

  1. Click Lists
  2. Recurring Transactions
  3. Select the Recurring KWRI Invoice you have saved
  4. Click Use Recurring
  5. Update the amounts as needed and save the invoice.

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