Broker Basics - BookkeepingForBrokers

Broker Basics

Discover essential tips and insights designed for mortgage brokers and loan officers. Learn the fundamentals of bookkeeping, financial management, and industry best practices to elevate your mortgage brokerage business.

October 23, 2024

The Ultimate Guide to Setting Up QuickBooks for a Mortgage Broker Branch Model

Jeremy Millar

Broker Basics

Learn how to set up QuickBooks specifically for mortgage brokers operating a branch P&L model, ensuring accurate financial tracking across multiple locations.

September 20, 2024

How to Set Up QuickBooks Online for Mortgage Brokers: A Step-By-Step Guide

Jeremy Millar

Broker Basics

Set up QuickBooks Online for mortgage brokers with a custom chart of accounts, automated bank feeds, and transaction rules for streamlined bookkeeping. Simplify tracking commissions, origination costs, and compliance expenses.

September 18, 2024

The Top 7 Tax Deductions Mortgage Brokers Should Know to Maximize Profits

Jeremy Millar

Broker Basics

Discover the top 7 tax deductions for mortgage brokers to reduce taxable income and boost profits. Key deductions include home office, equipment, and marketing expenses. Maximize savings with these essential tax tips.

June 12, 2024

Top 10 KPIs Every Mortgage Broker Must Track for Success

Jeremy Millar

Broker Basics

Discover the top 10 KPIs every loan officer must track to boost productivity and profitability. Learn how to monitor key metrics like Loan Compensation, Total Loan Amount Funded, and more to drive success in your brokerage.

June 11, 2024

Comparing Broker Compensation Styles: Best Practices for Loan Officer Packages

Jeremy Millar

Broker Basics

Compare broker compensation styles for loan officers and learn best practices for flat fees, high percentage payouts, and variable commissions in the mortgage industry.

June 10, 2024

The Best Accounting Software for Mortgage Brokers in 2024

Jeremy Millar

Broker Basics

Discover the top accounting software for mortgage brokers in 2024: QuickBooks, Xero, FreshBooks, Zoho Books, and Wave. Streamline your finances and grow your brokerage.

June 7, 2024

How to Easily Build a Branch P&L Model in Your Mortgage Brokerage

Jeremy Millar

Broker Basics

Discover how mortgage brokers can enhance financial management with a Branch P&L model. Learn essential steps to create branch-specific financial statements, driving transparency, accountability, and strategic growth.

June 6, 2024

Mastering Mortgage Brokerage Costs: A Guide to Fixed and Variable Expenses

Jeremy Millar

Broker Basics

Learn the difference between fixed and variable costs in mortgage brokerage. Discover strategies to manage expenses, enhance profitability, and ensure sustainable growth.

June 5, 2024

How to Calculate Loan Officer Commission for Mortgage Brokers

Jeremy Millar

Broker Basics

Learn how to calculate loan officer commissions using basis points and percentages. Understand industry standard rates and the importance of clear compensation agreements.