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Watch this video for everything about Sales Assistant Invoices! https://vid.us/goqn06

A Sales Assistant Invoice is an invoice we create every time a Buyer Specialist/Buyer’s Agent has a transaction. So, this includes a client purchase, some listings (especially if they bring in the client), and client rentals. For purchases and sales, the Admin will use one tool, and for rentals and special circumstances (like when there is a referral fee to pay out, which changes the amount the Lead Agent and the Buyer Specialist will get in the end) the Admin will use another.

The Admin will create a Sales Assistant Invoice once a file has gone either conditional or firm (whichever happens first). The Buyer Specialist will send the Admin all of the fully signed paperwork and the Admin will input the new transaction in NexOne. If this is for a listing, there will already be a transaction created in the listing side.

To create the Sales Assistant Invoice, you will need to know:

  1. The final sale or rental price — This can be found on the Agreement of Purchase and Sale #100

  2. The commission rate (for purchases and sales, it is typically a percentage of the sales price [ex: 2.5% + HST] and for rentals, it is typically a fixed amount in relation to the final monthly rental amount [ex: 1/2 of one month’s rent]) — This information can be found on the Confirmation of Co-Operation #320

  3. The commission split — You will ask the Buyer Specialist and the Lead Agent for this information. Typically, for rentals, the Buyer Specialist will get 100% of the commission, and for purchases and sales, it is typically 50/50 (it will be a percentage, like a 50/50 split, or 60/40 in favour of X)

Purchases and Listing

  1. Gather the information above

  2. Open up the team’s Google Drive in the web page view (do not use the desktop version)

    1. In a new tab, on the top right select the 9 dots beside the Nick Fundytus icon (if the logo shows your image, log in to the Nick Fundytus one first by selecting the logo and then the nick@nickfundytus.ca account)

  3. Select Google Drive

  4. Select the year folder (we are in 2021 right now, so the file I am looking for will be in the 2021 folder)

  5. Find the folder attached to the transaction and open it up (ex: SOLD First Last + First Last (123 Main Street)”)

  6. In the folder, right click in the black space and select Google Sheets > From a template > CREATE AND SHARE

  7. Select the “2021 Fundytus Team Sales Invoice” from the “Template gallery” under “Finance & accounting”

  8. Add the property address at the beginning of the title “123 Main Street - 2021 Fundytus Team Sales Invoice”

  9. Add today’s date in the “Invoice Date” section (line 18)

  10. In the “Property Address” section (line 19), add “123 Main Street, Ottawa, ON, K1K 2K2 (First Name and Last Name)

  11. Scroll to the bottom of the page and you will see 3 tabs

  12. Select the second tab “Calculation Sheet”

  13. On line 4 in the empty space next to “Sale Price of Property”, enter the sale amount

  14. On line 5 next to “Commission Rate” enter the commission rate (ex: 2.5%)

  15. On line 12 next to “Share to Buyer Rep (XXXXX)” enter the commission split percentage that is going to the Buyer Specialist (ex: if it is a 50/50 split, he would get 50%)

  16. The amount that the Buyer Specialist is owed will calculate in the bottom row

  17. Select the first tab at the bottom “Sheet for Signing” and the calculations made on the previous tab will have appeared

  18. Copy/paste the link to this sheet into the Slack channel associated with this client and tag both the Lead Agent and the Buyer Specialist with a prompt for them to review the math and confirm that it is correct

  19. Once you hear back from both that the math is correct, download a PDF copy of the invoice by:

    1. Select “File” at the top left

    2. In the drop down menu, select “Download” > “PDF Document (.pdf)”

    3. Select “EXPORT” on the top right

    4. The PDF will download on your computer

  20. Set this form up for signatures in the file it is for in NexOne. Be sure to specify under “Document Type” that it is a “Sales Assistant Invoice” for either the Selling or Listing side.

  21. Send the Lead Agent and the Buyer Specialist a quick note in Slack letting them know that it is in their inboxes to sign

  22. Add in “Note” section on NexOne for this transaction that there is a commission split with wording like “The selling side commission is split between Lead Agent and Buyer Specialist” (insert their actual names where the titles are in the example). Be sure to make this note only on the side you are working on, not the Shared notes.

  23. You would do this same process for a listing invoice

  24. If you do end up creating the form directly from Sheets, you can “move” the file to the clients folder after by selecting “Move” under “File” in the top left

Rentals

  1. Gather the information from the intro

  2. Open up Google Docs

  3. Select “TEMPLATE” Sales Assistant Invoice” from the Template section

  4. Re-label the title of the document to be “123 Main Street - Sales Assistant Invoice”

  5. Add today’s date in the space next to “Invoice Date”

  6. On the “Property Address” line, add “123 Main Street, Ottawa, ON, K1K 2K2 (First Name and Last Name)”

  7. To calculate the sections in the “Calculation of Payment”, use the following formulas:

    1. Total Agent(s) Net Commission — Commission amount (will typically be “1/2 of one month’s rent”) - 10% >> $1,500 - 10% >> $1,500 - $150.00 = $1,350

    2. “Share to Buyer Rep/SA” — This will be the cut of the commission the Buyer Specialist will get. For rentals, the Buyer Specialist typically gets 100% of the commission (100%)

    3. “Sub-Total Buyer Rep/SA Commission” — This will be the same amount as a. , unless the cut is not 100% In that case, you will do the math to figure out how much of that amount they will be getting (ex: 50% = $1,350/2 = $675)

    4. “HST (13% of Sub-Total)” — Multiply the final amount from c. by 13% or .13 to find out the HST (ex: $1,350 X .13 = $175.50)

    5. “Total Payment Buyer Rep/SA” — Add the HST to the Sub-Total for this row (ex: $1,350 + $175.50 = $1,525.25)

  8. Copy/paste the link to this sheet into the Slack channel associated with this client and tag both the Lead Agent and the Buyer Specialist with a prompt for them to review the math and confirm that it is correct

  9. Once you hear back from both that the math is correct, download a PDF copy of the invoice by:

    1. Select “File” at the top left

    2. In the drop down menu, select “Download” > “PDF Document (.pdf)”

    3. The PDF will appear at the bottom of your screen

  10. Set this form up for signatures in the file it is for in NexOne. Be sure to specify under “Document Type” that it is a “Sales Assistant Invoice” for either the Selling or Listing side.

  11. Send the Lead Agent and the Buyer Specialist a quick note in Slack letting them know that it is in their inboxes to sign

  12. Add in “Note” section on NexOne for this transaction that there is a commission split with wording like “100% of the Selling side commission goes to First Last” (insert their actual names where the titles are in the example). Be sure to make this note only on the side you are working on, not the Shared notes.

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