Reconcile Agency Account Current

If a company is installed with a Pay Mode of Agency Account Current (see Company Detail), use this option to pay the company based on your agency's Account Current report. this workflow is similar to the Reconcile a Company Statement process.

1. From Home Base, click the Accounting button.
2. Click Reconciliations.
3. Click Agency Bill.
4. Click Reconcile Agency Account Current in the Reconcile Company Payables window.
5. The Reconcile Agency Account Current screen displays. Define the following parameters:
   • Accounting Month: Choose to run the report for a specific accounting month. All invoices from the selected month and all open invoices from prior months are pulled into the report.
   • Select a Company: Leave the default of All Companies selected, or deselect it and double click in the Company Code field to select the appropriate company.
   • Select an Agency: Leave the default of All Agencies selected, or deselect it and double click in the Agency field to select the appropriate agency.
6. Click OK to display the Account Current Reconciliation window.
7. Click Flag Items Paid by AcctCurrent to flag all items meeting the criteria you set in step 5 as paid. This indicates that all of these items will be included in and paid via the reconciliation statement.
8. To examine/adjust items on the statement (or to remove items from the statement), click Unflag/Adjust Individual Items. The Flag Individual Items screen displays, listing all transactions flagged as paid in step 7.
   • The bottom portion of the screen displays detailed information on the selected transaction.
9. The following buttons are available on the Flag Individual Items screen:
   • Full Payment: Click this button to flag the selected transaction as fully paid. (Because all items should initially show as fully paid, this only applies for items you have unflagged.) An "F" displays in the left column to denote the payment.
   • Partial Payment: This option is not available for Account Current reconciliations.
   • Adjust Com %: If the commission percentage information shown at the bottom of the screen needs to be revised before the company is paid, click this button to adjust it. TAM displays the Commission Adjustment window.
     
     Enter the adjusted commission information for the company and the producers as needed and click OK. Choose whether to reflect these adjustments on the billing screen.
     
     Click Yes to update the customer's policy screen with the changes, or click No to return to the Flag Individual Items screen. A Y displays in the A column to indicate the item has been adjusted.
   • Remove Bal: This option is not available for Account Current reconciliations.
   • Write Off: This option is not available for Account Current reconciliations.
   • History: Click this button to view the selected client's transaction history. Use the arrow keys and scroll bar to view the transactions. Click Cancel to return to the Flag Individual Items screen.
   • Unflag Payment: Click this button to unflag a selected item that has already been flagged for payment. The flag is removed and the item's Net Premium returns to the original amount.
10. When you have finished unflagging/adjusting items, click Exit.
11. Click Items Flagged to be Paid Report to print a list of all transactions flagged to be paid in this statement. This list can be included with the check issued to the company.
    
    An A displays next to items with commission adjustments.
    
    A tilde (~) displays next to the second occurrence of any item appearing twice. The duplicate item will not calculate in the bottom line totals for the Amount or Net Prem columns.
12. To view unflagged items from this month and previous accounting months, click Outstanding Items Report.
13. If you made any adjustments to the commission percentages of invoices marked for payment, click Company Adjustments Report on the Company Statement Reconciliation screen to load the Reports/Marketing program.
    
    The Adjustments-Company report choice defaults. Modify the criteria as desired, and then click Run to run the report.
    
    If you have not made any adjustments, you do not need to run this report.

14. When you have finished working on the statement, click Cancel. You are prompted, "Have you completed this statement?"

    • Click No to save the statement reconciliation in its current state. You may then return to this program later and complete that reconciliation from the point at which you stopped. Such a statement will be considered open and may be listed with other open statements through the List Statements option on the Reconcile Company Payables menu.
    • Click Yes if you have completed the statement. Continue to the next step.
15. Revise the Statement Completion Date if necessary and click Continue.
16. TAM generates the required company payment records, and then flags the appropriate transactions as reconciled to the company and calculates the total net premium of all reconciled items for each company. Enter an issue date in the field provided and click Continue.
17. You are prompted, "Do you wish to issue the check immediately?"
    • Click No to return to the Reconcile Company Payables screen. Until you actually write the check, the statement is considered unpaid. To display these statements, select List Statements on the Reconcile Company Payables screen.
    • Click Yes to enter a disbursement and pay the statement.