To pay yourself your agency fees (management fees etc) you need to carry out a drawdown on the system. Everything that is in your drawdown is paid and must be invoiced through the system. You can carry out a drawdown as often as you like, the average tends to be a monthly drawdown of fees. This is normally done on the first day of the month for the previous month. You must make sure that you carry out the LetMC process before you take the funds from your bank
- To start click onto the ACCOUNTING tab, and select the BANK ACCOUNTS button.
- Choose the bank account you are wanting to drawdown
- On the left hand ladder you will have Draw Down Paid Sales, check the date on the left hand ladder, to make sure it is at month end/ up to the date that you would like to drawdown. You will see the below screen:
- The next step is to download reports for the drawdown. Tick the branch you are drawing down.
NOTE: It is really important that you download the reports called Paid Sales and Unpaid sales, this will give you a breakdown of what you are paying yourself, or what is still owing. As soon as you have completed the drawdown on the system these reports clear down for the next drawdown.
- Once you have downloaded those reports, you’ll need to click onto the drawdown paid sales button. You will see this screen:
Payment Type- How you are going to pay yourself (if you select by bacs the system will generate a bacs file for you to upload to your bank)
Invoicing- This gives you the option to generate invoices
Cheque Numbers- Fill out this if you pay by cheque
Payment Description- Description this will appear for the date that you are carrying out the drawdown.
- To complete the Drawdown, you need to click the confirm Drawdown Paid Sales Button