For a real estate brokerage account, would it be better to track all the agents (50 + agents) by using the agent as the customer or create a class for each agent? I have been using a separate chart of accounts for each agent for commissions coming in and going out, but I am going to end up with an extremely large chart of accounts as the company grows. Looking for a better alternative.
Glad to have you here, @K101.
I'd like to furnish you with information on how track your agents in QuickBooks Desktop.
Instead of adding your agents as customer, you can add create a list intended for your agents, Here's how:
Once completed, you can now associate each agent when creating an invoice for your real estate customers.
On the other, there's no need to set up an individual chart of accounts for each agent or sales rep. Instead, you can create one account and use it in posting the commissions you've given to your agents.
You can generate the Sales by Rep Detail or Sales by Rep Summary report to view the total sales per agent that you have.
Always feel free to visit us here in the Community if you have other questions about tracking your agents and their commission in QuickBooks Desktop. I'm always here to answer your inquiries.
What about when you pay them the commission? I don't see a sales rep column in the Bills part. There are fees taken out of the commissions also that need to be tagged to each agent and need to see totals by agent for the year.
Thanks for getting back to us, K101.
You can write a check in paying your agent. Then, enter their name on the PAY TO THE ORDER OF field.
In addition, the option to tagged your agent is unavailable. Thus, you can use Class and then enter there your representative.
You can always visit the Community space if you have other concerns. I'd be happy to help!