Important
You must have the Contracts Report Set permission. If you are not sure if you have this permission contact your User Manager.
Follow the below steps to calculate your advance.
- Click on Reports then click the Transactions report.
- Enter the Date Range and Click Run (See Below on how to know what date ranges to select
- Click on the Excel Button to export the transactions
- Delete any transaction that does not start with PMT in the Type column (Column K)
- Delete all Client Payments in the Type column (Column K)
- AutoSum the PMT Amt, Fees, Interest, Principal columns (Columns L – O)
- Underneath the total in PMT Amt (Column L) enter the total from the Fees column (Column M) as a negative number.
- Add PMT Amt (Columns L) and Fees (Column M)
- Multiply the amount in Step 9 by your Advance %
o This total is the amount of your deposit. If this amount does not match your deposit, please contact Accounting at [email protected] for further assistance.
Date Ranges
- Weekly Advances are paid out from the Previous Tuesday through Monday
o Example: If today is Tuesday the 8th, you would run your report from the 1st of the month – the 7th. - Monthly Advances are paid out on the Tuesday after the 15th Only – run report from the 1st thru the Monday after the 15th.
o Example: If today is the 20th, you would run your report from the 1st – the 19th - Tip Advances are only paid on the transactions that occurred in current month.
o Example: If today is the 6th, you would only run your report from the 1st – the 5th even though the previous Tuesday was the 27th.