Direct Bill Commission Statement (Reconciling)

By default, all rows have the Include check box selected. This includes the row in the Statement Totals Detailed section of the form and indicates the item is to be posted to the general ledger when the statement posts.

To exclude a row from posting, either clear the Include check box or highlight the row and click Delete on the section menu. You can also clear the Include check box for multiple rows and then click Delete Unchecked.

Items pulled to this section grid are:

• Policy transactions flagged as Direct Bill Statement in the How Billed field of the Premiums and/or Fees & Taxes sections of the Policy form.
• The policy transaction effective date is less than or equal to the Through Date defined in the Direct Bill Statement.
• The item is not fully reconciled.
• The item is not currently on an unposted In Progress statement.

Select Filter Offsetting to hide grid rows for backed out invoices and their corresponding offsetting rows. Offset rows occur as a result of voiding or correcting invoices. This option only appears if offset rows appear in the grid.

Grid Elements	What is this?
Check All	Select the Include column check box for all rows in the grid.
Uncheck All	Clear the Include check box for all rows in the grid.
Delete Unchecked	Deletes all rows where the Include check box is not selected. Rows can be added back to the current statement through the Additional Transactions form or are available to be pulled to a new Direct Bill Statement.
Match	This column only appears if you are setup to download direct bill accounting transactions from the company. This column contains the letter M (matched) or the letter U (unmatched) to indicate whether or not the policy transaction matched a downloaded direct bill accounting transaction located in the Compare Transactions Received in Download section. This letter is displayed as a link to open the Match Statement Transactions form where you can manually match or "un-match" transactions.   If this column appears but is unavailable, look to see if you have another direct bill statement open for this company/division. If so, close both statements and reopen the statement you want to work on.
Include	A check mark in this column indicates the transaction is to be included when posting the statement. A corresponding Include On Statement appears in the data entry section when you click Edit (on the section menu) in a grid row. Only items marked to "Include" on the statement are used in calculating amounts in the Statement Totals Detailed section of the form. Items without the Include check mark are not included when the statement is posted and are available for inclusion on another direct bill statement. Clear the items not appearing on the company direct bill commission statement, then click Delete Unchecked above the grid to remove unchecked items from the grid.   If the item is already matched (M in the Match column) with an item in the Compare Transactions Received in Statement Download section, it must be unmatched (U in the Match column), before the Include check mark can be removed.
Name	The customer name on the transaction.
Policy	The policy number on the transaction.
WriteCo	The Writing Company on the transaction.
ChgCo	A check mark in this column indicates a system-generated entry created by a Change Company action.
EffDate	The transaction effective date.
LOB/Chg	This column reflects the line of business short name for premium transaction rows, and the charge code for non-premium (taxes/fees) transaction rows.
Tran	This is the Policy Transaction Code for the transaction. The code defaults from the billing source (manual entry or download) but can be changed. To change, click the field to display a list of available codes. Select the desired transaction code.
Gross	This is the total premium, fees and taxes of the transaction from the Transaction Premiums/Billing section of the policy.
Billed Amount	Total amount billed to date for the transaction.
Prem/Fees/Taxes	Defaults to the gross amount of the transaction if the Billed Amount column is 0.00. If previous billings exist, defaults to the amount most recently billed. Example: A transaction with a gross amount of $2,000, appears for the first time on the company's February statement reflecting a premium of $500. $2,000 defaults to the AMS360 February statement and is changed to $500, matching what was actually sent by the company. On building the March statement, $500 defaults in the Prem/Fees/Taxes column as the unbilled premium matching the last billed amount for the transaction. This field has type-in-grid functionality. If several contiguous rows in this column need revision, click in the first field to be changed, enter the correct amount, and use the down-arrow key on your keyboard to move down the column.
Reconciled	A check mark in the Reconciled check box indicates that this transaction is fully reconciled (all agency commission is received that is going to be received).   This field has type-in-grid functionality. If several contiguous rows in this column need the check mark toggled on or off, click the first that needs changing, use the down-arrow key on your keyboard to move down the column, and press the spacebar to toggle the check mark on or off. Clicking the check box also toggles it on or off.
AgcyAmt	The agency commission amount for this transaction.
Agcy Comm	The agency commission rate for this transaction.
Exec Name	The primary Exec (Last name, First name) on the transaction.
Exec Amt	The commission amount for the primary Exec on the transaction.
Exec Comm	The commission rate for the primary Exec on the transaction. A commission rate appears with three decimals (15.000). If the commission rate is a flat rate, the words "Flat Rate" appear in this field.
PayPlan	The Pay Plan field fills with the pay plan entered in the Basic Policy section of the Policy data entry form. This field is display only.
SortNo	Refers to a number assigned when a transaction is downloaded from a company. Used in the Direct Bill Commission Statement Download matching process. This column only appears if you are setup to download direct bill accounting transactions from the company.

There are two methods available for editing in the Direct Bill Statement Billed Transactions section of the Direct Bill Commission Statement.

Type-in Grid Editing

The Tran (transaction), Premium/Fees/Taxes, Reconciled, AgcyAmt (Agency Commission Amount), and the ExecAmt (Executive Commission Amount) columns have type-in-grid functionality. Click a field anywhere in the column to edit the defaulted value. Use the keyboard up or down arrow keys to move between the rows in the column or mouse-click the next field requiring edit.

Using this method does not provide access to the Comments box to record notes about edited values. To add a Comment, highlight a row and click Edit on the section menu.

Section Menu - Edit Option

1. Highlight a transaction row in the grid and click Edit on the section menu to open the row in edit mode.
2. Complete the desired edits for the available fields.
3. If no additional rows require editing, click Update to accept the changes.
4. If more than one grid row needs editing, use the Previous or Next buttons to scroll through the grid items. Click Update when all edits are complete.

Fields Available for Edit	What is this?
Include on Statement	Selected by default. Indicates grid row is included in Statement Totals Detailed section and is to be processed on statement posting.
Premium/Fees/Taxes	Defaults the gross amount of the transaction if the Billed Amount column is 0.00. If previous billings exist, defaults the amount most recently billed. Example: A transaction with a gross amount of $2,000, appears for the first time on the company's February statement reflecting a premium of $500. $2,000 defaults to the AMS360 February statement and is changed to $500, matching what was actually sent by the company. On building the March statement, $500 defaults in the Prem/Fees/Taxes column as the unbilled premium matching the last billed amount for the transaction.
Reconciliation Complete	Reconciliation complete means that: All agency commission is received that is going to be received This transaction no longer pulls to future statements built for this company The Reconciliation Complete flag defaults to selected unless the option Default as Unreconciled is selected when choosing Direct Bill Statement modifiers. If you elect to edit a transaction and change the Prem/Fees/Taxes field, the condition of the Reconciliation Complete flag depends on the premium threshold set in the Default Company Settings section of Agency Setup or the Billing Options section of Company Setup. Premium Threshold How does the premium threshold affect the Reconciliation Complete flag default? Threshold Met When the difference between the premium, taxes, and fees paid by the company, and the gross premium, fees and taxes are less than or equal to this threshold, the transaction defaults as fully reconciled and the Reconciliation Complete check box remains selected. This can be changed. Threshold Not Met When the difference between the premium, taxes and fees paid by the company, and the gross premium, fees and taxes are more than this threshold, the transaction defaults to unreconciled and the Reconciliation Complete check box is not selected. This can be changed.
Transaction	The Policy Transaction Code for the transaction. The code defaults from the billing source (manual entry or download) but can be changed. Select the desired transaction from the list, if needed.
Comment	Allows you to enter a note about this specific item on the statement. Example: Company statement shows 15%, agency default is 10%.

The AgcyAmt (Agency Commission Amount) and the ExecAmt (Executive Commission Amount) can be edited with type-in-grid functionality within the main section grid. This means you do not need to highlight each row and click Edit on the section menu to make desired commission changes.

If you need to adjust commissions for other than the primary executive, click Edit on the section menu and edit the commissions via the Commission sub-section.

To modify more than one grid row, use the Previous or Next  buttons to scroll through the grid items. Click Update when all edits are complete.

Fields Available for Edit	Things to know...
Percent	This is the commission percentage rate. Typing in a new rate automatically updates the commission dollar amount.
Amount	Based on the commission percent and method, this is the commission amount. Changing the commission dollar amount automatically updates the commission percent field.
Business Unit	If a business unit split is applied at the policy/transaction Premium/Billing section, a link appears. You can view and edit the split commission amounts by clicking the link.
Method	To change the commission method in the desired row, select the appropriate method from the drop-down list. The available options are: Agency Commission % of premium/fees Flat rate Exec/Rep Commissions % of agency % of premium/fees Flat rate
Status	To change the commission status in the desired row, select the appropriate status from the drop-down list. The available options are: Agency Regular Memo Net (broker business) Gross (broker business)

Editing Commissions

To change the commission on a direct bill statement transaction row when in Edit mode, do the following:

1. Select the commission row.
2. Change/correct the Percent, Comm Amt, Method, or Status field as desired.

Split Agency Commissions

To split the agency commission on a direct bill statement transaction row, do the following:

1. Select the agency commission row.
2. Click New Split Agency Comm. This creates a second agency commission row. Adjust the commissions as desired.

Deleting Commissions

To delete a commission row on a direct bill statement, do the following:

1. Select the commission row.
2. Click Delete.

You cannot delete primary personnel.

The Additional Transaction link opens the Select Policy Transactions form where you can add policy transactions not already on the current statement.

When these transactions are added to the statement via the Select Policy Transactions form, the Include check box is automatically checked.

Following are some tips for ensuring the quantity and quality of the information available to the statement matching process:

• It is very important that the settings in Agency Setup > Default Company Settings section and the Company Setup > Billing Options section concerning direct bill and download be properly configured so that transactions are available to this process.
• The more information entered into Company Setup > Commission Setup section, as to commissions by line of business (LOB) and transaction type for each company, the better the quality of the match results.
• You should make every effort to correctly match all company downloaded accounting transactions in the Compare Transactions Received in Statement Download section to the corresponding AMS360 policy transactions in the Direct Bill Statement Billed Transactions section.
  
  Ultimately though, only the data rows existing in the Direct Bill Statement Billed Transactions and the Customer Center Billed Transactions sections actually post to the general ledger as part of direct bill statement posting.
• The matching process is a "One to Many" and a "Many to One" process. This means that one entry in the Direct Bill Statement Billed Transactions grid can clear more than one entry in the Compare Transactions Received in Statement Download grid, and visa versa.

To get all unmatched downloaded direct bill statement accounting transactions returned to the grid that meet the selection criteria for your policy transactions in the Direct Bill Statement Billed Transactions section, do one of the following:

• Use the Select Specific Statement drop-down list to select a specific direct bill accounting statement, download by the carrier.
• Select a From and To date range to get direct bill statement accounting transactions where the Transaction Effective Date falls within the date range of your direct bill company statement.
  
  The From and To Dates default to a three-month range ending with the Through Date entered when building the direct bill statement. Both dates can be changed.

This grid displays a row for each unmatched downloaded direct bill commission statement accounting detail record that matches the company type (Insurance or Brokerage), name, and division of this statement, and falls within the From/To dates selected. The default grid sort is by Name/Policy Number/Policy Transaction Effective Date.

The grid elements available for each row are as follows:

Grid Element	What is this?
Match	This grid column contains only the letter U (unmatched) to indicate that the company downloaded transaction is not matched to an AMS360 transaction. This letter appears as a link to open the Match Statement Transactions form where you can manually match transactions. Once a transaction is matched, it no longer appears in the grid, because this grid only contains unmatched transactions.   If you have made an error and wish to un-match a transaction, find it in the Direct Bill Statement Billed Transactions grid, click the letter M (matched) and un-match the transaction.
Name	Customer name associated with the transaction.
Policy	Policy number associated with the transaction.
WriteCo	Writing company name associated with the transaction.
EffDate	Transaction effective date associated with the transaction.
LOB/Chg	Line of business for premium and charge code for non-premium transactions.
Tran	Transaction Type (NBS, RWL) code.
Prem/Fees/Taxes	Premium, fees, and/or tax amount for the transaction.
Agcy Comm	Agency commission rate.
Agcy Amt	Dollar amount of agency commission.
SortNo	This field displays the data field 6DBD01 as sent by the company in the downloaded file. This number reflects in what order the item was downloaded. If the number is not provided by the company, four zeros (0000) are displayed.

Items pulled to this section grid are:

1. Direct bill invoice transactions previously billed through the Policy form.
2. The invoice effective date is less than or equal to the Through Date defined in the Direct Bill Statement modifiers.
3. The item is not fully reconciled.
4. The item is not currently on an unposted In Progress statement.

Select the Filter Offsetting box to hide grid rows for backed out invoices and their corresponding offsetting rows. Offset rows occur as a result of voiding or correcting invoices.

Grid Elements	What is this?
Check All	Selects the Include column for all rows in the grid.
Uncheck All	Clears the Include column for all rows in the grid.
Delete Unchecked	Deletes all rows with the Include column unchecked. Rows can be added back to the current statement through the Additional Transactions form or are available to be pulled to a new Direct Bill Statement.
Filter Offsetting	Select this box to hide grid rows for backed out invoices and their corresponding offsetting rows. Offset rows occur as a result of voiding or correcting invoices.
Include	A check mark in this column indicates the transaction is to be included on posting the statement.   A corresponding Include On Statement check box appears in the data entry section when you click Edit on a grid row. Only items marked "Include" are used in calculating amounts in the Statement Totals Detailed section of the form. Items without the Include check mark are not included when the statement is posted and are available for inclusion on another direct bill statement.   Clear the box for items not appearing on the company direct bill commission statement, then click Delete Unchecked above the grid to remove unchecked items from the grid.
Name	The customer name on the invoice.
Policy	The policy number on the invoice.
Writing Co	The Writing Company on the invoice.
EffDate	The invoice effective date.
LOB/Chg	This column reflects the line of business short name for premium rows, and the charge code for non-premium (taxes/fees) rows.
Tran	The policy transaction code for this invoice transaction.
Prem/Fees/Taxes	The total premium, fees or taxes for this invoice transaction.
CommBal	This is the unpaid agency commission for this invoice transaction.
CommRcvd	This is the amount of commission received for this invoice transaction, per the company statement.   This field has type-in-grid functionality. If several contiguous rows in this column need revision, click in the first field to be changed, enter the correct amount, and use the down-arrow key on your keyboard to move down the column.
Reconciled	A check mark in the Reconciled check box indicates that this invoice transaction is fully reconciled (all agency commission is received that is going to be received). Once the statement is posted, fully-reconciled grid rows no longer pull to future direct bill statements.   This field has type-in-grid functionality. To toggle the check mark on or off for several contiguous rows, click the first check box, use the down-arrow key on your keyboard to move down the column, and press the spacebar to toggle the check mark on or off. Clicking the check box also toggles it on or off.
JEAdjustAmt	For rows marked as "Reconciliation Complete," an adjusting journal entry is created for the difference between the CommBal (commission balance) column, and the CommRcvd (commission received) column, if any. The adjusting journal entry posts when the direct bill statement posts.   If this difference is significant, Vertafore recommends doing an Invoice Correction because this method does not correct employee/broker commissions. See Workflow: Analyze Direct Bill Entries in the General Ledger for more information.
AgcyComm	The agency commission for this invoice transaction.
AgcyRate	The agency commission rate for this invoice transaction.
Inv#	The invoice number for the transaction.
InvSeries	The invoice series number for the transaction.   The invoice series number links billing activities, such as billing corrections or replaced binder billings, with their original invoice. The original invoice number is the Invoice Series number.

There are two methods available for editing in the Customer Center Billed Transactions section of the Direct Bill Statement.

To add additional invoices to the Customer Center Billed Transactions section of the direct bill commission statement, click Additional Invoices. This opens the Select Invoice Transactions form where you can select the invoices you wish to add.

Invoice transactions added to the statement via the Select Invoice Transactions form have the Include check box automatically selected.

To correct commissions on an invoice:

1. Make sure the item to be corrected is highlighted in the grid.
2. Click the Correct Invoices link and make your commission corrections.
3. Click Post from the File menu, or click the Post icon. This posts the invoice correction and returns you to the Direct Bill Commission Statement.

Invoice rows for which no commission entry appears on the company commission statement can be deleted from the statement. Click the row to select and then click Delete on the section menu.

Deleted items are then available for adding to the next statement. If deleted in error, use the Additional Invoices link to add the transaction back.