In order to calculated the owner payment and agency commission correctly the correct settings need to be selected in the Commission details for every Agent.
Please note:
The agent will be automatically created for any third party (channel) we can connect to directly, e.g. Booking.com or Airbnb when the first booking is being received.
To check the settings once the agents has been created go to Admin > Agent > Edit agent > scroll to the section Commission details.
Default commission percentage
Enter the percentage you pay the agent for their services.
Please note:
It is not possible to set a fixed amount, only a percentage.
VAT percentage on commission
If you have to add VAT onto the commission, enter the percentage here. The system will add the amount due for the VAT automatically to the commission showing in the booking.
Commission includes VAT
If the VAT is already included in the default percentage you have set up, you need to tick this box.
Otherwise VAT would be added twice to the commission.
Depending on who is processing the guest payments, either you or the third party, one of the two options needs to be selected. This will ensure that the figures in the booking display correct, as well as making sure that the third party commission is not included in the the owner payment and agency commission calculations.
Which option should be selected depends on how you are paying the commission to the agent.
If the agent is collecting the money on your behalf form the guest, deducts their commission and then pays you the rest, you should select Yes from the drop-down menu.
In the financial details of a booking the agent would be should as a negative amount directly under the Full rate.
Airbnb is a classic example of an agent collecting the money from the guest on your behalf, deducts their commission from the received amount and is then forwarding you the rest.
If you are processing the money directly and are invoiced by the agent at a later date, you need to have a record in each booking in regards how much the agent is going to invoice you for.
In order to show the agent commission at the appropriate place within the financial details of the booking select No from the drop-down menu.
The commission will be deducted from the Total rent figure. You will see the amount due from the guest, the deduction of the agent commission and also how much turnover the booking has created for you under Property profit.
Deduct from Commission
There are five options to choose from. Depending how you are deducting the agent commission, select the appropriate one.
Please note:
All examples below have been calculated without taking VAT into consideration.
The commission is not itemised in the booking and when the owner payment is being calculated, it is ignored.
The full amount of the agent commission is deducted from the agency commission.
This means that the agency is absorbing the cost in full.
The owner payment and agency commission are calculated on the Full rate.
The owner payment and agency commission are being calculated as follows:
The owner payment will be calculated on the Full rate.
The agent commission will also be calculated on the Full rate.
In the below example is the commission percentage 15% and the agency commission 20%.
The calculated £300 for the agent commission will be deducted from the amount calculated for the agent commission.
This setting will calculate any agent commissions first, deduct them from the Full rate, and only then calculate the owner payment and agency commission.
In the below example is the commission percentage 15% and the agency commission 20%.
The Total rent will be divided between the owner payment and agency commission depending on the agency percentage taken.
The agency commission will be calculated on the Full rate.
The agent commission will also be calculated on the Full rate.
In the below example is the commission percentage 15% and the agency commission 20%.
The owner payment is calculated as follows:
Itemise commission on booking summary
This options allows you to choose, if the agent commission will be showing in the booking summary, which is e.g. send to the guest, or not.
