The following transaction reports are available:
Use the Account Current report to view all account current items booked during a particular time period. You can submit this report to a carrier along with the company disbursement.
You can also use this report to display the transactions that comprise the Month-End "Account Current" entry.
If your system is or once was set up to enable binder bill transactions in System Settings, a Binder Detail layout is available. Selecting this layout is recommended when you run the Account Current report for a time period that includes binder bill activity, as it displays all transactions affecting the Premium Payable and Binder Bill Payable required accounts.
To specify the time period of this report,
This report helps you monitor the productivity of accounting personnel. It provides counts of the accounting functions performed per employee or office.
This report displays all outstanding premium payable items that still have a premium payable balance for the time period selected. The organization should be able to run this report backwards to obtain the outstanding payables from previous periods. You can also run this report for a future date to review the premium payables that are coming up due. This report is similar to the Premium Payables report, except that it allows aging categories and only runs for unpaid payables.
The report displays each transaction by split commission with its respective payable balance (items rolled up). This allows you to view the payable balance per transaction and split commission item without having to add up the individual detail rows manually.
This report displays all items billed to a client that still have a receivable balance.
Generate the Aged Outstanding Current Balances report periodically to review outstanding receivables. This report includes all outstanding receivable balances as of a specific "Age Date." It ages the items based on the receivable due date associated to the transaction. The report summarizes the receivable balance for each item and places it in the appropriate aging category.
Do not generate this report to balance to the Accounts Receivables general ledger account, because Epic posts based on accounting month. This report includes the outstanding receivable balances based on the accounts receivable due date, not by the accounting month. To balance to the Accounts Receivables general ledger account, use the Balancing Current Receivables report.
This report only displays as an available option if your system is or once was configured to reconcile producers and/or brokers. It displays all outstanding producer/broker payable items in aging categories for the time period selected. You can run the report for a future date to review the producer/broker payables that will soon be due. This report is similar to the Producer/Broker Payables report, except that it allows aging categories and only runs for unpaid payables.
The report displays each transaction by split commission with its respective payable balance (items rolled up), allowing you to view the payable balance per transaction and split commission item without having to add up the individual detail rows manually.
This report only displays as an available option if your system is or once was configured to reconcile producers and/or brokers. It displays the outstanding producer/broker payables in aging categories that make up the producer/broker payable GL account balance.
You can generate the report to include only discrepancies when balancing to the GL. It then displays only producer/broker accounts whose sub-ledger details do not match the GL account balance.
If a statement is closed without payment, a GL entry is not made for that statement. Use this action only for statements where the amount is $0.00 (cleaning up old payables). You can exclude these items (statements with no associated GL item) when running the report.
You can run this report to display all items making up the balance in the Binder Bill Payable required account (i.e., binder billed items that have not yet been closed). Alternatively, you can run the report on all binder bill items closed in a specific time frame. The Balancing Binder Bill Payables report displays only if your system is or once was set up to enable binder bill transactions in System Settings.
The Balancing Current Premium Payables report displays all items that remain in the current Premium Payables general ledger account for the time period selected. You can use this report to balance to the Premium Payables general ledger account for prior periods.
This report should be used for balancing purposes only. A separate Premium Payables report displays the items that appear in premium payable reconciliations.
Use this report in the following scenarios where the current Premium Payables report does not balance to the GL:
To specify the time period for this report, go to Modify Criteria. Select Accounting Month.
The Balancing Current Receivables report displays the transactions that make up the balance of the Accounts Receivable required account for a specific time period. You can run this report backwards to balance to your accounts receivable required account.
Use this report for balancing purposes only. A separate Aged Outstanding Current Balances report displays the items based only on the A/R Due Date and not the accounting month.
See Balancing Receivables in the Accounting Manual for instructions on using this report.
This report displays all service fee items that remain in the deferred income general ledger account for the time period selected. You can use it to balance to the deferred income general ledger account for prior periods.
This report displays all interagency payable/receivable items making up the general ledger balance in the Interagency Deferred Commission Payable and Interagency Deferred Commission Receivable accounts.
This report displays all government tax/fee items that have not yet been paid in the Government Payables Reconciliations area (i.e., the items making up the balance of the Government Payable General Ledger account). Items that have been reconciled on statements are included on the report if the statements have not yet been paid.
The Balancing Producer/Broker Payables report only displays as an available option if your system is or once was configured to reconcile producers and/or brokers. It should match the Aged Producer/Broker Payables report, but it ages the balances into different groupings. This report displays all items that remain in the producer/broker payables GL account for the time period selected. You can use it to balance to the producer/broker payable GL account for prior periods.
To specify the time period for this report, go to Modify Criteria. Select Accounting Month. You can also modify the Transaction Commissionable Producer and Transaction Commissionable Broker criteria to locate outstanding payables for one or more specific producers/brokers.
This report displays a summary of all receivables, premium payables and producer/broker payables for a single bill. This allows you to verify that transactions(s) have been entered appropriately prior to distributing to the client.
Generate the Broker Commission Report to review broker expenses posted by Month-End based on the agency's Accounting Method Configuration for agency bill and direct bill business. The Pr/Br Agency Bill Commission and Pr/Br Direct Bill Commission criteria options should be set to Accounting Method to balance to the Month-End entry. The report automatically includes items for all agencies defined for your organization based on their respective Accounting Methods for broker payment.
Epic allows you to generate the Broker Commission Report based on a different accounting method than the way your organization has been installed to pay brokers. For example, an agency may be installed in Accounting Method Configuration to pay brokers on a fully paid basis for agency bill business. The Broker Commission Report can be generated based on partially paid or an invoiced basis. To generate this report based on a different method than how your agency/agencies has/have been installed to pay brokers in Accounting Method Configuration, the Pr/Br Agency Bill Commission and Pr/Br Direct Bill Commission criteria options can be modified from "Accounting Method" to Exclude, Invoiced, Partially paid or Fully paid.
To review unearned broker commission, generate the Write-Off Report.
Run the Broker Commission report at the end of the month as a reference document when recognizing broker commission expense.
The Commission Tracking report tracks agency commission per policy to determine whether the received commission is as expected. This report is typically used for direct bill commissions.
The report displays each policy and the transactions entered for that term. The Discrepancy Percentage criteria option allows you to include only direct bill policies where a discrepancy exceeds a certain threshold.
The Commission Variance Report helps you determine whether the agency commission amount actually received from a carrier is within range of what your organization expected to receive based on the estimated line commission. The report tracks agency commission and compares finalized, reconciled commission to the pro-rated estimated commission. You can set a threshold percentage, and the report will flag lines that exceed the threshold.
This report is intended for use with direct bill commissions, including benefits, and can be run for lines without transactions.
Generate the Commission Volume Report to analyze top-ranking producers/brokers based on agency revenue volume. This report also allows you to compare the current period's revenue volume to a cumulative revenue volume to obtain the revenue percentage each producer/broker is contributing to the organization overall. Epic allows you to modify the default Producer/Broker major sort to obtain the agency revenue volume based on fields available within the layout (Client, Type of Business, Agency, Branch, Department, Profit Center, etc.).
Generate the Cross Reference Production report to compare premium and revenue across multiple periods. The default criteria options and layout allow you to compare two actual periods and two comparison periods. Epic allows you to add additional actual and comparison periods, up to a maximum of five.
Deferring broker payables allows your organization to recognize a broker’s expense immediately and defer broker payables. Generate this report to balance to the Deferred Broker Payables required general ledger account's balance. This report displays all deferred broker payables that remain in the Deferred Broker Payables general ledger account for a specific time period.
To balance to the Month-End Broker Deferred entry, generate the Broker Commission Report, which includes all broker payables that went into and came out of the deferred account.
Deferring producer payables allows your organization to recognize a producer's expense immediately and defer producer payables. Generate this report to balance to the Deferred Producer Payables required general ledger account's balance. This report displays all deferred producer payables that remain in the Deferred Producer Payables general ledger account for a specific time period.
To balance to the Month-End Producer Deferred entry, generate the Producer Commission Report, which includes all producer payables that went into and came out of the deferred account.
Generate the Direct Bill Report to review direct bill revenue received or outstanding. This report balances to the Direct Bill Commissions Reconciliation area if the Direct Bill Commissions criteria option is Unpaid. To locate direct bill commissions received, set the Direct Bill Commissions criteria option o Partially Paid, Fully Paid, or Paid Items. To locate all items reconciled to which no direct bill commission receipts has been associated, set the Direct Bill Commission criteria option to Reconciled, Not Paid.
This report displays all agency commission earned. It also includes producer/broker commission. Optionally add the Net Agency Commission data element to the layout to view the agency commission amount after producers/brokers have been paid.
To view the commissions by transaction class,
You can run the Government Payables report on outstanding government tax/fee items and on those that have been reconciled in the Government Payables Reconciliations area.
Generate the Miscellaneous Production Report to review all miscellaneous transactions that are not owed to a carrier. You can update the basic Production Report’s Transaction Class criteria option to include these transactions in a single report, or to include the basic Production Report transactions in a single report.
The Premium Payables replaces the Company Payables report, which no longer exists in Epic. It includes both carrier and broker premium payables. The Premium Payables report allows you to run its balances to the Premium Payables Reconciliation area. Paid on this report represents reconciled for payment. The organization may have a reconciliation statement that has been finalized but not yet paid through the General Ledger. When this report runs, the system treats it as if it is "paid," even though it has only been reconciled.
Generate the Producer Commission Report to review producer expenses posted by Month-End based on the agency’s Accounting Method Configuration for Agency Bill and Direct Bill business. Set the Pr/Br Agency Bill Commission and Pr/Br Direct Bill Commission criteria options to Accounting Method to balance to the Month-End entry. The report automatically includes items for all agencies defined for your organization based on their respective Accounting Methods for producer payment.
Epic allows you to generate the Producer Commission Report based on a different Accounting Method than the one your organization has set up to pay producers. For example, an agency may be set up in Accounting Method Configuration to pay producers on a fully paid basis for agency bill business. You can generate the Producer Commission Report for a partially paid or an invoiced basis. To generate this report based on a different method than the one your agency has set up to pay producers in Accounting Method Configuration, modify the Pr/Br Agency Bill Commission and Pr/Br Direct Bill Commission criteria options from "Accounting Method" to Exclude, Invoiced, Partially paid, or Fully paid.
To review unearned producer commission, generate the Write-Off Report.
This report is available only if the system is or once was configured to reconcile producers and/or brokers. It displays transactions that exist on Producer/Broker Payables Reconciliation statements and can be run for all items, for items that are partially or fully reconciled/paid, for items that are reconciled but not paid, or for items that are not reconciled or paid.
Generate the Production Analysis report to review production premium and revenue in a rolling, twelve-month summary format.
The Production Ranking report helps you identify your top producers, clients, etc. It sorts all of your accounts by total commission or premium to identify the accounts that provide the most value to your organization.
You can use this report as a cross-sell report when you run it with the Producer criteria option set to include related producers. A producer can run this report with the Producer criteria option set to their own employee account and select the Include all related producers checkbox option, alloiwng the producer to review all of the types of business their clients currently have with the organization so that the producer can market additional lines of business to their existing clients.
The Production Report includes any account current transactions owed to a carrier or direct bill production items. You can update the Transaction Class criteria option to include miscellaneous transactions, to show all production in a single report.
If you major sort by Producer/Broker, the Production Report automatically calculates the premium and revenue based on each producer/broker’s production credit percentage, displaying the amount of premium and revenue each producer/broker is bringing into the organization without overstating the premium and revenue grand totals. If a new business premium transaction was entered at $5,000.00 with two producers, for example, the grand total premium will be $5,000.00, and not $10,000.00. In addition, each producer will display $2,500 if their respective production credit percentages were both 50%.
To specify the time period for this report,
To specify the company for this report,
This report only displays as an available option if your system is or once was configured to share revenue.
The Production Report - Share Revenue displays all transactions billed that meet the specified criteria. If the billing included share revenue, the report allocates the revenue accordingly. The Share Revenue/Expense layout includes the broker expense shared between offices, while the Share Revenue Net of Broker layout displays the net agency revenue per office. Criteria options are similar to those for the Production Report, but all default structure criteria are replaced with revenue receiving structure criteria (e.g. Revenue Receiving Region, Revenue Receiving Agency).
Direct Bill commissions are often not transacted immediately, especially for larger brokerages. If your brokerage relies on the Record Direct Bill process, it can be challenging to gain timely insight into your revenue. This report allows you to track your brokerage’s revenue at the time of policy inception without having to gather data manually from multiple existing reports.
Generate this report to view both estimated and billed premium and commission in a single report. This report allows you to show and file direct bill and/or agency bill revenue at the time of policy inception vs. the actual revenue received with minimal manual effort.
Generate this report to view information on payments added in the Transactions area (i.e., transactions belonging to the Payment – Create Transmission File or Payment – No Transmission File transaction code classes, which support pre-authorized cheques and post-dated cheques, respectively) or generated when printing a receipt for payment. This report pulls information from payment transaction detail and also displays the payment status, debits and credits applied, and remaining receivable balance for each transaction included.
This report does not include information on payments that were entered in the Receipts area.
This report displays the individual transactions that represent the Month-End interagency payable and interagency receivable entries for Interagency Commission Sharing.
This report allows you to print a list of selected items that have been reconciled in the Government Payables Reconciliations area. You can optionally run it to view only the items reconciled on a particular statement.
This report shows transactions that have been marked as having a discrepancy between the statement and the agency records in the Premium Payable Reconciliations area.
This report shows transactions that have been marked as having a discrepancy in the Pr/Br Payables Reconciliations area. It only displays as an available option if your system is or once was configured to reconcile producers and/or brokers. You can run the report for items that show a discrepancy, items marked as resolved, or both.
The Transaction Reconciliation report allows you to print the items that have been reconciled in the transaction reconciliation area. Send this report to the carrier with the cheque to indicate which items are being paid.
Run the Unapplied Cash/Credit report to locate any cash or credit items that have not been applied. Applied Systems recommends running this report before generating statements or closing the month.
The Unearned Commissions report displays transactions with unearned commission to help you validate the balance in the Agency Bill Unearned Income required account. You can run it for a single accounting month to balance to month-end posting values.
Only transactions that are not yet fully paid display on this report. Fully paid transactions are omitted.
You can use the Verify Transaction reports to audit transactions added to Epic through a manual workflow to see if commissions are being changed or if they differ from the commissions agreements entered. Use them to audit transactions entered by newer staff or for direct bill transactions being imported, direct bill commission download, or recording and reconciling direct bill commission. You can also use them to audit agency bill transactions for the same type of consistency or inconsistency.
The Verify Transaction Commissions - Compare to Policy report compares transaction commission information to commission information entered at the policy level.
Note: This report compares only Policy and Line transactions; it does not compare Account transactions.
You can use the Verify Transaction reports to audit transactions added to Epic through a manual workflow to see if commissions are being changed or if they differ from the commissions agreements entered. Use them to audit transactions entered by newer staff or for direct bill transactions being imported, direct bill commission download, or recording and reconciling direct bill commission. You can also use them to audit agency bill transactions for the same type of consistency or inconsistency.
The Verify Transaction Commissions - Premium Payable Agreements report compares transaction commission information to premium payable commission agreements configured in the system.
You can use the Verify Transaction reports to audit transactions added to Epic through a manual workflow to see if commissions are being changed or if they differ from the commissions agreements entered. Use them to audit transactions entered by newer staff or for direct bill transactions being imported, direct bill commission download, or recording and reconciling direct bill commission. You can also use them to audit agency bill transactions for the same type of consistency or inconsistency.
The Verify Transaction Commissions - Producer/Broker Agreements report compares transaction commission information to the producer/broker commission agreement used to default the commission for that transaction.
You can use the Verify Transaction reports to audit transactions added to Epic through a manual workflow to see if commissions are being changed or if they differ from the commissions agreements entered. Use them to audit transactions entered by newer staff or for direct bill transactions being imported, direct bill commission download, or recording and reconciling direct bill commission. You can also use them to audit agency bill transactions for the same type of consistency or inconsistency.
This report compares government tax/fee transactions entered to the tax/fee rates defined in Government Tax/Fee Rate Configuration. By default, the criteria selections include only discrepancies, allowing you to identify any differences between the expected and actual tax/fee transaction information.
Generate the Write-Off report to review any unearned commissions based on accounts receivable, direct bill receivables, or company payable write-offs as determined by your organization’s Accounting Method Configuration.
This report only displays as an available option if your system is or once was configured to share revenue.
Generate the Write-Off Report - Share Revenue to review transactions and unearned income for the revenue share. The report displays the transactions making up the unearned revenue/expense allocation posted at Month-End. Criteria options are similar to those for the Write-Off Report, with the following differences: