Unearned Premium General Ledger Detail Report

Use the Unearned Premium General Ledger Report, along with the Unearned Premium Subledger Detail Report, if the Unearned Premium Reconciliation Report shows Unearned Premium to be out of balance. You can print a Summary Report or a Detail Report.

How to access this page

To access the Unearned Premium General Ledger Detail Report page:

  1. From the Sagitta Home Page, click Accounting >Financial Management > Reconciliation Reporting.
  2. Select Unearned Premium General Ledger Detail.

Selection Options

Regions– Select the region(s) for which you are processing the report. The field includes a Search feature for selecting valid region(s).

Division Number - The division number for the division (s) to be included in the report. You can expand the Division Number list. Click Lookup to select from a list of all divisions.

Check the Division Master Maintenance file for a list of valid department codes for each division.

Payee Codes (Detail Only) (Leave Blank for All) - Enter the Payee Code for the payee (s) to be included in this report. You can expand the Payee Codes list. Click Lookup to select from a list of all Payee Codes.

Check the Payee Code file for a list of valid codes.

Date/Output Options

Period End Date - Enter the period end date for the month that you want to reconcile, or click Lookup to select a date from the calendar.

The date that you enter must be a valid Period End Date in the Period Control File. For example, if today is 6/15/04 and you want to run a report today for the current month, you must run the report for 6/30/04, which is the last day of the month and the Period End Date.

Detail or Summary Report?- Select one of the following options from the drop-down list:

  • Detail - if you want to print a Detail Report View all the items associated with the accounts. This report lists each individual open receivable item by client and gives the open receivables total of all clients. Note that you must select this option if you want to run the report for specific Payee Codes.
  • Summary- if you want to display Period End account totals without any supporting detail. 

Detail Report

This report is a detailed list of all UTMs created for the Unearned Premium General Ledger accounts for the period, divisions, and payees specified.

You can specify one, several, or all Divisions and/or Payees. You can print the report only for those divisions and payees shown to be out of balance on the unearned premium Reconciliation Summary Report.

This report is sorted by client and non-client activity within each division. The client activity for the division is sorted by payee. Any non-client activity for the division follows on a separate page after payees.

After the detail prints for each division, a Summary Page prints, showing total client activity by payee, then total non-client activity for the division.

Summary Report

The Summary Report is based on Unposted Transaction Masters (UTMs.)

This report includes total client activity for each Payee for the periods and divisions you specify. The client activity section is followed by total non-client activity. You can specify one, several, or all divisions. You cannot select specific payees when you select the Summary Report. To select specific payees, you must print the Detail Report.

If you print the Summary Report before you print the Detail Report, you can compare it to the Summary Report for the Unearned Premium General Ledger Detail Report, and identify the payees that have different totals. You can then print the Detail Report only for those payees with summary totals that differ between the two reports.

How to Reconcile Unearned Premium

Unearned Premium may be out of balance for the following reasons:

  • there are transactions in the Sales File that have no corresponding UTMs for the period;
  • there are transactions with UTMs that have no corresponding transactions in the Sales File for the period;
  • there are non-client entries posted to the Unearned Premium account in the period;
  • or any combination of the above.

To resolve out-of-balances, you should:

  1. Print the Unearned Premium Subledger Detail Report, which extracts information from the Sales File, as well as the Unearned Premium General Ledger Detail Report, which extracts information from UTMs (Unposted Transaction Masters) for the month you are reconciling.

If you have Divisional accounting, you need run these reports only for the the divisions that are out-of-balance.

  1. Print the Summary Reports for both the Unearned Premium General Ledger Detail Report and the Unearned Premium Subledger Detail Report so that you can see the client activity totals for each payee.

    The Unearned Premium General Ledger Detail Report shows the total for any non-client activity to the General Ledger Unearned Premium account. These non-client entries may be all or part of the out-of-balance situation.

  2. Compare the two Summary Reports and identify any discrepancies between the Payee totals.

    These discrepancies my be all or part of the cause of the out-of-balance situation.

  3. Re-select the Unearned Premium General Ledger Detail Report and the Unearned Premium Subledger Detail Report, this time choosing the Detail Report.

Print the detail only for those payees with discrepancies between the two summary reports.

  1. Compare the transactions for each Payee on the two Detail Reports transaction by transaction, marking any transactions that do not appear on both reports.

  2. Call Vertafore Customer Care for additional help in reconciling the Unearned Premium. Be prepared to fax the report pages that include the "problem" transactions.

Menu Bar Options

Click

To

Save or ALT + S

store your current selections so that they pre-fill the next time you access this Report Selection page. (You must be logged in with the same User ID.)

Quit or ALT + Q

clear any changes you have made since your last Save.

Default

save your current selections as a Default Record for this report. Also see Setting Up Default Selection Criteria.

The Print Options bar

The selections available on the Print Options bar vary by report. See the Print Options Bar topic if you need additional assistance in choosing the appropriate option.