Each Voucher has its own Receivable Ledger that contains all Charges, Payments and Adjustments related to the balance due to the Brokerage House
How to Manage Receivables:
From the left menu, select Receivables
Use the drop down box to select the Voucher for which you would like to see the Receivables
Ledger will list current Charges, Adjustments, and Deposits associated with the selected Voucher
Each line item will list the associated Debit or Credit and the resulting running Balance in the right most columns
On the bottom edge of the window the Ledger will list the Totals of Debit, Credit and Balance Columns
By default, CommissionTrac will hide adjusted and reversed charges, payments, and adjustments. If you would like to see a full history of changes and deletions in a ledger, click Show All in the top middle of the ledger.
Frequently Asked Questions:
How do I make a change to a charge in a Receivables Ledger?
Starting with CommissionTrac 1.5, changes to charges are made in the voucher and update the ledger automatically. For edits to charges that have no payments or adjustments applied to them, just make the change in the Commission Tab of the voucher, save, and see the change in the ledger. Watch how here.
What if there is already a payment applied to the charge?
If a charge is already Paid, the deposit would have to be reversed before the charge could be updated. See the process here.
What if there are already adjustments applied to the charge?
If you go into a Voucher and make changes to charges that have already been adjusted, CommissionTrac will reverse all associated adjustments before saving the changes. This will save you so much time! Check it out.
What about Annuities?
Just like deals that are paid out in fewer payments, charges in Annuity deals can be edited in the Voucher. Also just like other deals, any payments or adjustments would have to be reversed first. Watch our example here.
What does "Show All" mean?
By default, CommissionTrac ledgers only show the current, active, 'live' line items. If a charge was changed, in the background this is handled by adjusting off the old charge and posting a new charge. This new charge will be what shows in the ledger, but the old charge and the adjustment will be hidden. If you ever need to do an audit of the full history of the ledger, put a check mark next to "Show All" in the top right of the ledger.
How do I post an adjustment that is not a charge edit but it's own line item? Sometimes you need to add or take away a dollar amount to a deal, but it's a separate line item, not an edit to the commission charges. You can do this by posting a "Miscellaneous Receivable" adjustment. More on that here.
How do I Increase the balance due on a Receivables ledger without editing the commission charges?
Check out our help center article on Misc Debits.
How do I Decrease the balance due on a Receivables ledger without editing the commission charges?
Check out our help center article on Misc Credits.
What if I have a payment I need to delete?
This is also done in the Misc Receivables area. Check out our help center article on Deposit Reversal.