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8.F.2. - The Agent Net Worth The Agent Net Worth report is an excellent tool for your broker/owner to calculate your agents' net worth based upon the income derived from your agents fee deductions and monthly billing, compared to the expenses the office incurred for the same period. It will identify which agents are generating a profit and which agents might require some coaching. Each revenue and expense G/L Account has a setting (volume or number of agents) so the overhead is properly divided among the number of agents, or pro-rated based on the volume of business they do. How the expense accounts are divided is specified by the Allocation Flag assigned to those G/L accounts in Edit General Ledger Accounts (F.F.2). When deciding on the setting in F.F.2. for each G/L account, ask yourself "Is the balance of this account affected by the number of agents I have, or by the volume they produce?" Since G/L expense accounts with the Allocation Flag set to "A" (F.F.2) are based on the number of agents, agents that work from home don't count and agents that join or leave part way through the year only show as partial agents, based on the number of days they were active (i.e. an agent that was only active for 3 months would show as .25 (90/365). The Agent Report format gives a detailed breakdown of the income and expenses for each agent. The Executive Summary gives a one line summary for each agent. |
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