Agent Ledgers in Rex lets you track commission owed to your agents. It does this by picking up information entered on Commission worksheets. You can also update their ledger with manual transactions - so any deduction or credit that is not tracked in Rex.
You can then create a pay run to pay that money out to the agent, this also lets you export that info and then send a statement to the agents.
If you use Xero, you can also have the option of integrating with their software. This lets you import deductions from past payruns, and start payruns including your agents ledger balances.
Agent Ledgers will be the first option you have in the left-hand menu, after going to Financials > Agent Ledgers. Here you can add new agent ledgers, edit current ones, and add transactions.
Adding a New Agent Ledger
- While viewing the Financials > Agent Ledgers section, click the plus ('+') found at the top of the screen
- Choose the agent under Open a ledger by selecting an Agent
- Click Open Ledger
Viewing and Editing Agent Ledger
Once we open an agent ledger, we're presented with a new window. There are a few different sections:
- Along the top, some navigation
- Next, a summary of what will be included in the pay run
- At the bottom, a list of transactions where we can also manually enter any new transactions or edit existing ones
These options are the same as in other locations in Rex.
- Back button - this will take you back to the Agent Ledger lists
- View change log - clicking this shows you when a change was made (and by who)
- Back/forward buttons - use these to go to the next agent ledger or back to the previous
Agent Ledger Summary
Below the navigation options, we will have a summary of a few items:
- Name - the agent's name attached to this ledger
- Commission payable - total commission payable after adding settlement commissions. This will populate after adding transactions or running bulk commissions
- Status - if the ledger has been processed or not in a pay run
- Carryover - How much was paid to the agent
- Transactions - total number of transactions including Deductions and Settlement Payout
- Super included - Add a percentage to this IF your commissions paid to the agent includes super. What Rex will do when you export to Xero, is deduct the percentage before adding to the payrun. The reason for this is Xero will attempt to add super to money that is sent through. If the commission paid to the agents is plus super, leave this field blank.
Adding transactions/settlement payout
While viewing the agent ledger, you'll see an area for transactions below the summary. These include any settlement payouts from listings and transactions, and any other payments not part of the commission step through. If you use Xero, imported deductions will also show here. If you're using Xero, see Agent Ledgers and Xero Integration: Import Deductions for more info.
In the list you'll see several columns:
- ID - ID number for the transaction
- Date - when the transaction was added to the agent ledger
- Type - the type of transaction
- Description - more info about the transaction
- Amount - how much money is in the transaction
To add a new transaction or settlement payout, see:
- Transaction - Agent Ledgers and Xero Integration: Adding a Transaction
- Settlement payout - Agent Ledgers and Xero Integration: Adding a Settlement Payout
Once you have some transactions in the ledger, you have a few options to in the list view.
- Hover over the transaction and click the Dropdown button
- Choose either of the following:
- Edit - for more info, see: Agent Ledgers and Xero Integration: Editing a Settlement Payout
- Reverse - this is will remove the entry on the agent ledger - the total will then be recalculated. You can also view any reversed transaction
- Audit - choosing this gives you an overview of any changes made and by which user