Recommended Month-End Reports and Criteria Settings

The following is a list of recommended reports for Month-End. The recommended report criteria are displayed under the reports to which they apply.

If you are unsure about which criteria settings to use when running these reports, use the recommended criteria listed below. Once you are more familiar with running Month-End, you may tailor the report criteria to fit your agency’s specific needs.

• Aged Debtors Report
• Account Current Report
• Introducer Report
• Agent Report
• Miscellaneous Production Report
• Adjustments - Introducer
• Adjustments - Insurer
• Changes Report
• Client History Report
• Earned Commissions Report
• Status of Accounts
• Income Statement
• Balance Sheet
• Trial Balance

Aged Debtors Report

This report presents a detailed listing of the agency’s client receivables (including Customers, Other Interests, Finance Companies, and Agents).

Account Current Report

This report presents a list of agency-billed transactions for a specified accounting month. If you pay any insurers on an account current basis, make sure to run this report for those insurers.

It is also a useful report for all insurers in that it allows you to review transactions prior to posting them so that you can make adjustments as necessary.

Introducer Report

This report presents information about production sorted by introducer. Run it once for All Invoiced Items (total production) and once for Paid Items Only (paid by customer or insurer). By doing so, you can show your introducers why you are not paying them for certain items if your introducers are on a paid basis for commissions.

The Introducer Report can also be used as an aid to help in collections, as the two reports can show which clients have not paid.

If you are just trying to determine what you owe your introducers for the month, you can run this report with a Report Mode of Commissions Due Introducers. When you use this Report Mode, the report automatically defaults all parameters.

Agent Report

This report needs to be run only by agencies that have outside agents or agencies that agent business through their agency. It presents a detailed list of production by those outside agents, including commission amounts.

Miscellaneous Production Report

This report provides details for transactions entered that are not considered client bill or direct bill production. It includes such things as agency fees, taxes, writeoffs, and finance transactions.

Adjustments – Introducer

This report provides details on any transactions where the introducer commission percentage or amount has been adjusted. It includes both agency and direct-billed items.

Adjustments – Insurer

This report provides details on any transactions where the insurer commission percentage or amount has been adjusted. It includes only agency-billed items.

Changes Report

This report presents a list of transactions to which any changes have been made. It includes items that have had commissions adjusted, descriptions changed, or items that have been deleted, as well as any other type of change possible. Use this as a guide to track what staff members are doing on the system to find areas they may be struggling with or repeatedly needing to correct.

 Client History Report (Optional) 

This report lists all client transactions entered during the month.

Note The first time you run month-end, use Dates for the Dates parameter. During successive month-ends, use the Month-to-date option.

Earned Commissions Report

The Earned Commissions Report displays payments made to the agency and return premium checks written to clients. This report lists actual commissions earned for both introducers and agencies, based upon payments received. 

The Earned Commissions Report is intended for agencies set up to realize income on a cash accounting basis.

Status of Accounts

This report provides a detailed listing of the entries hitting your general ledger accounts. It is sometimes referred to as the General Ledger Report in other systems.

Income Statement

This report is your profit/loss report. It lists income and expenses for the period selected and displays either a net profit or loss.

Balance Sheet

This report lists final asset, liability, and equity account balances for the month selected.

Trial Balance

This report serves two purposes in TAM. First, as with all other systems, it displays a listing of all general ledger entries for the period chosen. Second, and probably more importantly, it checks for any errors. If errors are detected in any entry, the system deletes the entry and you must then re-enter it.