Watch this video for everything about Sales Assistant Invoices! https://vid.us/goqn06
(2022 update: please ignore the Google Document Sales Assistant Invoice instructions where you do the math manually. We have updated the new 2022 sheet to work for both rentals and purchases)
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:
The final sale or rental price — This can be found on the Agreement of Purchase and Sale #100
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
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
Gather the information above
Open up the team’s Google Drive in the web page view (do not use the desktop version)
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 firstname.lastname@example.org account)
Select Google Drive
Select the year folder (we are in 2021 right now, so the file I am looking for will be in the 2021 folder)
Find the folder attached to the transaction and open it up (ex: SOLD First Last + First Last (123 Main Street)”)
In the folder, right click in the black space and select Google Sheets > From a template > CREATE AND SHARE
Select the “2021 Fundytus Team Sales Invoice” from the “Template gallery” under “Finance & accounting”
Add the property address at the beginning of the title “123 Main Street - 2021 Fundytus Team Sales Invoice”
Add today’s date in the “Invoice Date” section (line 18)
In the “Property Address” section (line 19), add “123 Main Street, Ottawa, ON, K1K 2K2 (First Name and Last Name)
Scroll to the bottom of the page and you will see 3 tabs
Select the second tab “Calculation Sheet”
On line 4 in the empty space next to “Sale Price of Property”, enter the sale amount
On line 5 next to “Commission Rate” enter the commission rate (ex: 2.5%)
The Brokerage Deal Cost is 0$. Nick absorbs per deal as discussed with team. (Per deal fee from plan #9)
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%)
The amount that the Buyer Specialist is owed will calculate in the bottom row
Select the first tab at the bottom “Sheet for Signing” and the calculations made on the previous tab will have appeared
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
Once you hear back from both that the math is correct, download a PDF copy of the invoice by:
Select “File” at the top left
In the drop down menu, select “Download” > “PDF Document (.pdf)”
Select “EXPORT” on the top right
The PDF will download on your computer
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.
Send the Lead Agent and the Buyer Specialist a quick note in Slack letting them know that it is in their inboxes to sign
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.
You would do this same process for a listing invoice
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
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.