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New Back Office Platform for CRE Commission and Accounting

Oct 15, 2014

We are excited for the release of our latest product, a Back Office platform for commercial real estate brokerages to track commissions, invoices and payments all in one app! This was developed as a direct result of feedback received from our customers who requested the ability to track commission plans and payments with their related comps.

Too often, the commission tracking process is separated from deal tracking and accounting via Excel spreadsheets and manual processes that are time consuming and prone to errors. Brokers and managers don't have visibility into forecasted commission, commission owed, and commission received on a monthly, quarterly, or yearly basis. Then there are factors such as commission splits or holdbacks that need to be taken into account. This results in toggling back and forth between spreadsheets and multiple systems which is not an efficient way to do business.

Apto was designed by brokers to track Contacts, Properties, Listings, Projects and Comps all in one place. Now we can take that even further as we introduce the "Booking Engine" which takes a user through the entire process of booking a deal for either a Sale or a Lease. You can book the deal on a comp, enter commission items, create and send an invoice, track the payment, and apply the payment to an agent's commission.

Multiple invoice types are supported including standard sale invoice, standard lease invoice and, in instances where the commission is collected as the rent comes due, recurring lease invoice. The Booking Engine allows users to enter partial payments, allocate payments to multiple invoices and also assign a portion of payment towards participating agents’ gross commission. Best of all, you can run reports and dashboards on commission paid and estimated commission, providing a better picture of your revenue pipeline!

Learn more about Apto's back off platform

Topics: Company Updates

Kim Howard

Written by Kim Howard

Kim is a Marketing Manager at Apto and a new mom. She has zero free time now, but her patience and coffee consumption have increased exponentially.

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