Use this option to access the reconciliation programs: Agency Bill, Direct Bill, and Check Book.
The Reconcile Company Payables screen provides several suboptions with which you can reconcile the account current to the company statement or to the agency's Account Current report. You can also run the Company Payables and Account Current reports within this program. The Premium Trust Report program enables you to calculate the minimum which should be maintained in the Premium Trust Account. The Statement Closing Utility enables you to flag all transactions associated with a given company statement as paid. Another option is used to display all open, or unfinished, statements, all reconciled statements that have not been paid, or all reconciled statements paid to the company.
The Company Statement Reconciliation is integrally linked with the general ledger Cash Disbursements program. When you reconcile a company statement, you write checks to the particular company for the appropriate net premium total. An option is also provided with which to save a statement reconciliation so you can return to complete it as desired.
The Direct Bill Menu provides options used to reconcile direct bill transacted items to company direct bill commission statements. The options provided enable you to reconcile direct bill transactions to company direct bill commission statements, run the Direct Bill Report, remove direct bill balances from customer accounts without reconciling, and list the statements that you have begun reconciling but have not finished.
The Check Book option is used to reconcile the cash account entries in TAM to the cash account entries on your bank statements. This option enables you to flag withdrawals and deposits as having cleared the bank. The program provides a reconciliation worksheet that displays all outstanding checks, miscellaneous withdrawals, and deposits, and then reconciles the total of these items with the current cash account balance to calculate the bank statement balance.
This section describes the following options.