Agency Bill

When you enter information in the Company file, you are required to indicate your payment method for each company: from the company's agency bill statement or the agency's account current report. The Company Statement Reconciliation program allows you to reconcile agency bill transactions based on your payment method.

This program enables you to do the following.

• Verify that all items listed on the agency bill statement have been invoiced at the proper premium, commission percentage, etc.
• Verify that all items shown on the statement have been paid by the customer (if run for fully paid items).
• Adjust incorrect commission percentages on agency bill transactions.
• Record the items the agency intends to pay to the company.

Note: The Company Statement Reconciliation program is integrally linked with the Disbursements program. After you reconcile a company statement, TAM saves the total net premium due to the company or companies. In the Disbursements area, you may write checks to the companies whose statements you have reconciled for the appropriate net premium totals.

The Reconcile Company Payables menu provides you with the following options:

• Reconcile a Company Statement: View items due to be paid to the company, compare your records against the company statement, mark the items as reconciled, view items flagged for payments, and issue a check to the company.
• Reconcile Agency Account Current: Use this option if you are reconciling against your Account Current rather than against a company statement. Items to be paid to the company are automatically flagged, and you can unflag or adjust them before issuing the payment to the company.
• Quick Company Statement Reconciliation: A simplified version of the Reconcile a Company Statement option, this can be used to quickly reconcile a small group of transactions.
• Company Payables Report: View agency-billed transactions, including broker-billed and lienholder-billed, written with one or all companies. This report can be used to assess past or future company payables based on transactions processed.
• Account Current Report: View agency-billed transactions for a specified accounting month. The report prints customer transactions for each company on a separate page and prints a summary page that subtotals activity by company.
• Premium Trust Report: This report calculates the minimum balance that should be maintained in the Premium Trust account.
• Statement Utilities: Access various agency bill statement maintenance utilities.
• List Statements: This option displays a summary of all company statement reconciliations stored in the system.
• Dequeue Company Statement: Process saved/queued company statements.