Loading & Managing Sales Expenses

Loading & Managing Sales Expenses

In the context of expenses, transactions can be recorded to be dispersed for the sales transactions received. These transactions can be further categorized as Fees (representing income for the agency), Payments (payments made to third-party recipients), or Provisions (funds held in the bank to be released later as fees or payments). This allows for accurate tracking and management of financial transactions related to owner statement and expenses. Once the transactions are concluded, the entries will appear on the owner statement. 

1. Click Admin on the Main Menu. 



2. Click on Customer Files.



3. Select Sales on the menu heading.


4. Click on the File Name to open the file. 



5. Customer File will open. Click on Expenses on the file tab ribbon bar. 



6. Expenses tab screen will open. The screen is divided into two main sections:
  1. Landlord Charges & Expenses – this section is for users to add and manage expenses to be processed for payment or fee debiting. 
  2. Landlord Statement – this section is for users to generate and distribute landlord statements.


How to load a Sales Expense

Sales expenses can be added under the Inspection and Maintenance. Any expenses added to these sections will automatically appear under the expenses screen. 

1.  Within the “Landlord Charges and Expenses” section, click on the Add button. 



2. A menu will appear, select the appropriate option based on the charge type:
  1. Payment: This is for debiting an expense and recording payment details. It's used to release payments from the bank when funds are received, such as for payments to the attorney.
  2. Fee: Select this for debiting expenses related to agency or company services, such as sales commission.
  3. Provision: Choose this to debit expenses like repairs to be held before releasing them as a payment or as a note to retain credit funds on the file.
  4. Pro Forma Invoice: This is to generate a pro forma invoice document from a once off fee loaded to the expenses related to agency or company services, such as sales commission fee.
3.  Once the expenses are added, the user will have flexibility to edit or delete the expenses as and when required. 


Add a Payment

A Payment is a debit entry that includes bank details, allowing the user to make a payment when funds are received for the sales transaction.

1. From the menu, select Payment from the menu.



2. The Payment screen will open.

3. Fill in the mandatory fields. All other fields are optional:
  1. Description (mandatory): From the Select from list drop-down select the description to be used. This will populate the Description field. Overwrite the description if required. 
  2. Amount (mandatory): Enter the transaction amount to be paid.
  3. Frequency (mandatory): Select the payment frequency of the transaction (once off, daily, weekly, monthly, quarterly, or yearly).
  4. Recipient (mandatory): Select the recipient bank details. User can choose from (a) File Recipient list drop-down or (b) from the beneficiary list () or (c) manually enter the bank details. (see How to select & manage Recipient Bank details)
  5. Recipient Reference (mandatory): Fill in the reference to appear on the payment transaction. 
  6. Netcash Subscribers only: Click Validate Account to validate bank details


4. Click Save to create the transaction. 



5. The payment will be listed under the “Landlord Charges and Expenses” section and “Submit payment screen”. User will have flexibility to manage the payment:
  1. Edit or delete the payment as and when required. 
  2. Generate the payment to the bank (see Generating Payments from PropWorx)

Add a Fee

A Fee is a debit entry that is charged to the landlord's statement. When the funds are received, the user can debit the fee, and the corresponding amount will be paid to the company or agency.

1. 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 the fee report  (aka income account) where the fee needs to be allocated. Select between “As Per Mandate” or “Own Selection”. (see How to manage fee splits​)


4. Click Save to create the transaction. 



5. 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



Add a Provision

A Provision is a retainment item. When the funds are received, the user has the flexibility to either retain the funds or convert the provision into a payment.

1. From the menu, select Provision from the menu.



2. The Provision screen will open.

3. Fill in the mandatory fields. All other fields are optional:
  1. Description:  Type in a description for the provision.
  2. Amount: Enter the amount to be retained. If required, add the VAT from the VAT option. 


4. Click Save to create the transaction. 



5. The provision will be listed under the “Landlord Charges and Expenses” section and “Submit payment screen”. User will have flexibility to manage the payment:
  1. Edit or delete the provision as and when required. 
  2. Retain the provision on the payment screen (see Retain Provisions on Payment Screen)
  3. Convert provision to payment (see Convert provision to payment)


Edit or Delete Sales Expenses


1. To edit or delete a Sales Expense, under the “Landlord Charges and Expenses”, click on the edit () button on the expense.



2.  Expense screen will open. 
  1. To edit: Make required changes and click Save.
  2. To Delete: Click on the Delete button and confirm the prompt. Please note that deleting an entry will permanently remove it from PropWorx, including the expenses and payment screen associated with it.