Close an Approved Transaction in CommandMC

No matter which type of Commission Request/Transaction was created and approved, you will come to the point where you will need to follow this process to fully close a Transaction. This involves balancing out the totals with checks received, detail the status of Escrow Funds, finalize any contingencies, and let the system know that commission needs to be distributed.

To close an approved Transaction:

Access

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. At the top of the list, click Filter, select both Submitted and Resubmitted, then click Apply.

5. Click on the Transaction ID of the Approved Transaction you want to close.

Transaction Details

1. If you need to make edits to either the Contract Date or Closed Date, you can do that on the left side of the page.

2. If there are Escrow Funds involved in the Transaction, you can enter the amount and use the drop-down to keep track of the status.

• This is just for your own tracking. Using the Escrow Funds section won't affect the Commission Distribution, or the ability to close the Transaction.

3. On the Notes tab, you will see any notes added by the agent while they were submitting the Commission Request. This can also be used by the leadership team to leave notes for each other throughout the approval process.

• When adding a note as leadership, you will see an option to mark the note as Private. If marked as private, the agent will not see the note, while they will if it is not private.

4. On the Transaction Party tab, you will see a list of vendors from the MC Vendor Database that either the agent has added to the Opportunity, or that the leadership team has added. This gives leaders the ability view the details for each vendor, if they need to reach out to them. Leaders can also add/remove vendors, and add a File Number to each (for internal tracking purposes).

• The only vendors that will show up in the search are vendor branches that have been added to the MC Vendor Database. If you can't find the vendor, you can always add it in, in the CommandMC Admin Applet.

5. On the Contingencies tab, you will see any Contingencies that were added, where you can set a Completed Date, edit details, remove Contingencies and add new ones.

• This is just for your own tracking. Using the Contingencies section won't affect the Commission Distribution, or the ability to close the Transaction.

6. On the Financials tab, you will see the total balance that needs to be accounted for, before you can close. In the Disbursements section (bottom right) denote whether any added Agents, Other Brokers and Deductions, have already been paid out or not. 

• If you select that one of the disbursements has been Paid, it will remove that amount from the Total Balance. 
• For the disbursements marked as To be Paid, those will be deposited into AccountEdge as needing to be paid out from there.

7. At the top of the Financials tab, we get to the most important part of balancing to total and unlocking the ability to close the Transaction. In the Checks Received field log the received check(s) by entering the Source/Check #, then the Amount received, then click the Plus Sign.

8. Once everything is balanced and ready, click Close Transaction, at the bottom right of the page.

Once closed, the financial details will be added to your MC Month End Close and general reporting. You will also now be able to include this closed Transaction in a new Deposit to import into AccountEdge.

• You can also download the Transaction Reports/Forms (formerly know as printing the DA).