Report: Revenue Recognition - P&C
Currently this report is not featured in My Agency Reports. |
The P&C revenue recognition report is now tailored to agency bill use cases where all revenue is considered 100% binding revenue, recognized when the policy becomes effective.
HIGHLIGHTS
-
Secured using a new secured item
-
Available as an Excel export from Classic Reports winform
-
Contains various filtering capabilities including Date, Business Unit and Line of Business filtering
-
Ability to export editable or locked sheets alongside a cover sheet
-
Report displays results at a policy transaction level. If a single policy contains multiple lines of business, then multiple rows will be present on the report.
-
Report results display some basic policy information such as customer name, business unit, policy number, effective date, expiration date, line of business, and estimated revenue
-
User has the ability to specify a date to run the report against. Policy records with an effective date between the specified date and January 1st of the prior year will be returned
-
Business unit splits are supported
-
Report displays the billed revenue and unbilled revenue dollar amounts per policy transaction
-
Report contains logic to provide totals for billed and unbilled revenue
CLASSIC REPORTS
-
Open up Classic Reports, search for and click the Revenue Recognition –P&C report.
Reports: Revenue Recognition P&C
-
Fill in the relevant information in the Revenue Recognition winform, then click Generate.
-
You can include non-premium transactions (agency fees) by checking the box.
-
You also have an option to make the excel sheet locked or editable and can include a cover sheet.
-
Revenue Recognition P&C
COVER SHEET
-
You’ll notice the Date and Time of the report as well as the Agency’s Name.
Revenue Recognition P&C: Excel
-
Next you’ll see the Prior Calendar Year and the Current Calendar Year up to the current date of the report.
Revenue Recognition P&C: Excel
LOCKED REPORT
-
This is a protected sheet that cannot be edited.
-
Filtering and editing is not possible in this sheet
-
Revenue Recognition: Locked Sheet
EDITABLE SHEET
-
This sheet has the same info as the above report except you have the ability to filter and make edits.
Revenue Recognition: Editable Sheet
-
3. Columns A-K is your classic report info.
-
1 row per transaction
-
Column K is where you will find Estimated Revenue info (This info is populated in the Policy Transaction Premiums section)
-
Estimated Revenue
-
Columns M and N represents all billed and unbilled revenue associated to transactions on policies effective in the prior year.
Billed & Unbilled Revenue: Prior
-
Columns P and Q represent all billed and unbilled revenue associated to transactions on policies effective in the current year.
Billed & Unbilled Revenue: Current
-
Columns S and T represent all billed and unbilled revenue associated to transactions on policies effective in the prior and current year.
Total Billed & Unbilled Revenue: Prior to Current
Example: Assume we have a policy term that runs from 11/01/2018 to 11/01/2019, and the P&C report is run for 10/01/2019. All billed revenue will be logged in the Prior Year Policies Billed Revenue column because the policy is effective 11/01/2018, even though some revenue may have been billed in 2019. |