Agent Charge Accounts AGENT MONTHLY EXPENSE ACCOUNT (AGENT ACCOUNTS) Each agent will have an expense account with the company. This account will primarily be used to reimburse the company for agent expenses that the company has paid on the agent’s behalf or other agent expenses where the company is owed compensation from the agent. Examples include: MLS dues, E&O/Admin Fees, Insurance Premiums, Agent Marketing Collateral (closing gifts etc). ACH REQUIREMENT Agents are required to keep an active checking account on file with the accounting department to pay their agent account monthly. Agent accounts are charged on the 15th of each month (or closest business day) for the previous months. Agents may opt to use a credit card instead, but will be charged a convenience fee to cover the merchant charges if they choose to do so. PAST DUE AGENT ACCOUNTS The company may deduct past due agent account balances from closings, and reserves the right to drop the agent’s license in the event of extreme agent account delinquency Agent Savings Accounts AGENT SAVINGS ACCOUNT Agents may elect to direct a portion of their commissions to be held in a separate account by the company for the purpose of tax expenses or other savings. The agents may draw money from this account as needed.
QUESTIONS: accounting@kpdd.com
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