Create an Adjustment Transaction (Commission Distribution)

Please review the Transaction Adjustment Guide to understand the process for correcting Transaction errors through Adjustments.

Adjustment Transactions are used to make corrections to Transactions that were closed in a prior period.  An Adjustment Transaction is like doing a journal entry where when you take the initial Transaction and the Adjustment Transaction and add the numbers together, you should end up with the final distribution of commissions.  

If the Transaction is in the current month, undo the original Transaction, make the corrections, re-close the Transaction, create the deposit and upload to AccountEdge. Remember to delete the original deposit from AccountEdge. 

Here's a summary of the steps to complete a Commission Distribution Adjustment Transaction. Continue to the bottom of the article for more detailed instructions. 

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

2. At the top of the page, click CommandMC.

3. Click to access the Transactions Applet, , on the left side of the page.

4. Locate the original closed Transaction from the prior period that needs the original commission distribution adjusted, and click on the Transaction ID to open it.

5. At the bottom right of the page, click Create an Adjustment.

6. Select Commission Distribution, then click Start Adjustment. 

7. On the General Information page the date of the adjustment will be auto-populated to the current date, or the last date of the current period of the month being closed. Click Next to Agent Details.

8. You will see the agents who were previously added to the Transaction appear. If you need to add an additional agent to receive a Commission, click Add Agent, at the top right of the page. Use the drop-down to select the agent you want to add a Commission for.

• If the new agent is on a team, make sure the team is selected for team attribution for the production.

9. Enter the Commission Distribution information. Enter the amount of the Commission that was paid to the original agent(s) as a negative amount, and what is being added to the new agent(s) as a positive amount so the amount in far left under Left to Distribute equals zero. Then click Save Adjustment. 

10. On the Financials tab, the Commission Reconciliation should automatically balance to zero and balance the financials, as no checks should have been received. Click Close Transaction. 

11. Create the Deposit and Import into AccountEdge.

• A best practice is to keep adjustment transactions on a separate deposit. 
• Since no money was collected, the transaction will show as having a zero check amount.

12. Pay the Commission Distribution based on the amount shown in the Financials tab of the transaction to be paid in the Disbursements section, cut a check to any additional agents added to the transaction from the Clearing Commission account.  

13. Collect the funds from the agent that was overpaid and record it as Received Money, coded to Clearing Commission.

14. Confirm Clearing Commission account is zero.