Your First Fee Draw Down

Q: What is a fee draw down in agentOS and why do I need to do it?

A: A fee draw down is the process of taking your agency's fees from the client account and transferring them to your business account. The client account holds money that belongs to landlords and tenants, but your agency earns fees for managing properties. The draw down separates your earned fees from client money, ensuring proper accounting. You'll typically do this weekly on Mondays for the previous week's fees.

Q: I'm about to do my first fee draw down in agentOS—what should I do first?

A: Before attempting your first draw down, you should consult with a colleague, manager, or contact Support for guidance. This is really important—the draw down involves moving money between accounts, and you need to understand the process correctly before doing it yourself. Someone experienced with agentOS will likely walk you through your first one or do it with you observing. Never attempt your first draw down without this guidance.

Q: What are the steps for my first draw down?

A: Once you've been trained on the process, navigate to Bank Account, then "Draw Down Paid Sales". Complete the Draw Down process following the on-screen instructions. The system will calculate the Net amount and VAT (if applicable) that you need to transfer. You'll then transfer these amounts from your client account to your business account. The next day—this is important—you'll need to reconcile these transfers using "Link as Payment or Deposit" to match the bank statement entries.

Q: Why do I need to reconcile the draw down transfer the next day?

A: When you transfer money from your client account to your business account during the draw down, it appears as a transaction on both bank statements. The next day, you need to reconcile these transfers using "Link as Payment or Deposit" so that agentOS knows these transactions match up with the draw down you processed. This completes the loop and keeps your accounts accurate in the system.

Q: What happens if I make a mistake during my first draw down?

A: If you think you've made a mistake during your first draw down, stop and contact Support immediately. Don't try to fix it yourself. Draw downs involve moving money between accounts, so errors need to be corrected properly. This is why it's so important to have guidance for your first few draw downs in agentOS—having someone check your work helps catch any issues before they become problems.

Q: When will I be confident enough to do draw downs independently?

A: Most new agentOS users feel comfortable doing draw downs independently after 2-4 supervised attempts. A colleague or manager will let you know when they're confident you can do it alone. Until then, think of it as a learning process—ask questions, take notes, and don't rush. It's better to take your time and get it right than to rush and make an error.

Q: Where can I find step-by-step instructions for when I'm ready to do it myself?

A: For detailed step-by-step instructions on completing the draw down process, please refer to the "Draw Down" article in the agentOS knowledge base. Keep this article handy for your first few independent draw downs—it's a helpful reference guide as you build your confidence with the system.