Adding EFT withdrawals and deposits to agent accounts

If your agent allows your office to set up a withdrawal from their bank account or a direct deposit into their bank account for commissions and invoice payments, here are the steps to follow.

Administration

1. First in the administrations account you must enable the electronic funds transfer to and from your bank account.

   • Administration > Configuration > General >Electronic Funds Transfer

2. Add

3. Complete the mandatory fields

   Open

   

    

   • Financial Institution: Which bank will the money come to or from

   • GL account: Which GL account will be affected

   • Type: Deposit (into the office account) or withdrawal (going out of the office account)

• Account #

• Transit #

• EFT Identification #

4. Once the information has been completed you need to do the same process in the agents account

• Go to Agents / Non-Agents > Agents and select your agent

• In the Electronic Funds Transfer section click on ADD

• Complete mandatory fields

  Open

  

   

• Financial Institution

• Transit #

• Account #

• Type: deposit (into their account) Withdrawal (from their account) or deposit & withdrawal

• Save and close

Now that your EFT accounts have been setup, you can now invoice your agents and process the payments or directly deposit their commission payments.