Overview

Brokerage Programs are used to accrue brokerage expenses to the general ledger as well as make entries to a subsidiary payable ledger. When a transaction that contains a brokerage program is posted, a journal entry is created to Debit the Brokerage Expense account and Credit the Brokerage Payable account. The Credit is added to the Brokerage Settlement tables. Then, at a later date, someone can review the brokerage payables and approve them for payment via the Settlements page in the Sales Programs module. When a brokerage payment is approved one of two things happens: 1) an AP Invoice is created so a check can be cut on the next check run or 2) an AR Credit Memo is created that can offset an AR balance due.

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