How to Create a Split Fee using Own Selection

How to Create a Split Fee using Own Selection

1. Click Admin on the Main Menu. 



2. Click on Customer Files.



3. Select Rental or Sales on the menu heading.

4. Click on the File Name to open file. 



5. Customer File will open.
6. Go to the expenses tab (e.g. tenant charges, landlord expenses) and ADD
7. From the menu, select Fee from the menu.



2. The Fees screen will open.

3. Fill in the mandatory fields. All other fields are optional:
  1. Description: From the Select from list drop-down select between a “Predefined fee” or Custom or “% based fee”. This will populate the Description field. Overwrite the description if required. (see How to create and manage predefined fees)
  2. Amount: Enter the transaction amount to be debited. If a predefined fee is selected, the amount may be automatically populated.  Overwrite the amount if required. If required, add the VAT from the VAT option. 
  3. Frequency: Select the frequency of the transaction (once off, daily, weekly, monthly, quarterly, or yearly). 
  4. Income Account: Select "Own Selection”. Load the Agent or Income Account: To add the Agent/s or Income Account/s to file: Click Add Income Account, select from the Agents or Income Account from the list. If required, repeat step to add multiple agents or income accounts to the file. 



4. If required, edit splits for commissions/fees
  1. To load or edit splits: click on the edit () button next to the agent/income account and adjust the percentage or fixed rate. Click save () button to set split. Repeat as required. 
  1. To remove agent or income account: click on the edit () button next to the agent/income account then click on the delete () button remove. Repeat as required. 



Note for Knowledge Base: Handling Rand Splits in PropWorx

PropWorx will always convert Rand splits into percentages. Some splits entered as Rand values will be converted to percentage splits with precision up to two decimal places. This conversion may result in slight differences of a few cents between the intended and actual split amounts.

Example:

When splitting R1500 into R1000 and R500, the split cannot be exactly R1000 and R500 due to the limitation of percentage precision to two decimal places. The closest values will be used:

33.33% of R1500 = R499.95 (close to R500)
66.67% of R1500 = R1000.05 (close to R1000)

5. Click Save to create the transaction. 



6. The Fee will be listed under the “Landlord Charges and Expenses” section and “Submit payment screen”. User will have flexibility to manage the fee:
  1. Edit or delete the fee as and when required. 
  2. Debit the fee and trust -to-business transfer report (see Debiting Fees on PropWorx)
  3. Generate a pro forma invoice

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