Field/Group Name

What is this?

Statement Status

During the reconciliation process, your status options are In Progress or Ready to Pay.

• If Ready to Pay is selected, the editing selections in this section are disabled.

• When creating the statement using the modifiers form, if you selected the option Set pay amounts to payable balance and statement status toReady to Pay, then the statement opens with editing options disabled. To make changes to the statement items, click the In Progress status.

• The Ready to Pay option is not available unless at least one statement item has an amount in the Pay Amount (PayAmt) column.

1099

This section defaults from 1099 Category and Type entries in Employee or Broker setup. If nothing defaults, and the commission statement should be included in 1099 reporting for the individual, select a category and type from the list of available choices.

Additional Invoices

Click this link to open the Pay Commissions - Additional Invoices form.

Correct Invoices

Use this link if the commission payable balance is incorrect due to one or more of the following types of errors:

• Commission Amount.

• Commission Percent.

• Commission Method.

• Broker Status from Gross to Net.

• Employee Commissions from Regular to Memo.

To correct the invoice:

1. Make sure the item to be corrected is highlighted in the reconciliation grid.

2. Click the Correct Invoices link, and make necessary changes to the invoice.

3. Close the link to return to the Reconcile Statement section.

Filter Offsetting

Click Filter Offsetting to refresh the grid, hiding hide rows for backed out invoices and their corresponding offsetting rows.

Enabling Filter Offsetting does not prevent the rows from posting to the statement, it merely hides them in the grid to make processing a large number of grid rows easier. Uncheck the option to re-display all rows.

Button

Button Label

What is this?

Pay

The Pay button sets the Pay Amount (PayAmt) equal to the Payable Balance (PayBal) for the highlighted row.

If the highlighted row is part of an invoice series, clicking Pay does not pay all rows in the series. Consequently, you can edit any row in the grid regardless if it is part of a series.

Previous Row

Clicking this button moves the focus to the previous row in the grid. If the first row in the grid is currently highlighted, this button is grayed out.

Next Row

Clicking this button moves the focus to the next row in the grid below the row currently highlighted. If the last row in the grid is currently highlighted, this button is grayed out.

Pay & Next

This button sets the Pay Amount (PayAmt) equal to the Payable Balance (PayBal) for the highlighted row and moves the highlight focus to the next row in the grid.

This button reduces mouse clicks if you are reviewing one grid row at a time by combining the Pay and Next Row actions.

Pay All

In most workflows, selecting this button sets the Pay Amounts equal to the Payable Balance amounts for every row in the grid.

If, on the Pay Commissions - Statement Modifiers form, you selected the option Invoices Partially Paid to Agency, AND you did not check the Set Pay Amounts to Payable Balance with partially paid invoices... option, then you will receive a system option message when you click Pay All:

Should the PayAmt for partially paid Agency Bill invoices be calculated based on the % of AR Recv? If 'No' the PayAmt fills with the PayBal value for the row.

• If you select Yes, then the system sets the Pay Amounts based on the employee/broker's commission percentage of the (partial) amount paid on the invoice so far.

• If you select No, then the system sets the Pay Amounts equal to the Payable Balance amounts for every row in the grid.

Rather than selecting each row individually and clicking Pay, click Pay All and then go back and delete items you choose not to pay or adjust the Pay Amounts on select invoices, as needed.

Column Heading

Meaning

Name

Customer name.

Pol #

Policy number from Basic Policy.

EffDate

Invoice effective date.

Tran

This is thePolicy Transaction Code.

LOB/Chg

Line of Business short name for premium rows.

Charge code for taxes/fees rows.

Method

Commission Method for the invoice.

• % of Agency

• % of Premium/Fees

• Flat Rate

Rate

Employee/broker commission rate.

When the agency commission rate is split, this field is blank.

Comm

Employee/broker commission dollar amount.

PayBal

The amount you owe the employee/broker.

PayAmt

The amount to be paid on this statement. This is a type-in-grid column.

AdjPayAmt

• Direct Bill Invoices: The suggested pay amount to the executive or broker based on the agency commission received to date. This suggested pay amount takes into consideration any previous payments made to the executive or broker on this invoice.
  
  Technical Calculation: (% of DB agency commission receivable) x [(employee or broker commission payable) - (the commission paid to date)].

• Agency Bill Invoices (applicable if you selected the Statement to Include option Invoices Partially Paid to the Agency on the modifiers form):
  
  The suggested pay amount to the broker or employee, based on his or her commission percentage, in proportion to the actual amount paid on the invoice compared to the invoice total. This suggested pay amount takes into consideration any previous payments made to the employee or broker on this invoice.
  
  Technical Calculation: [[(Agency Gross - ARBal) / Agency Gross] x (employee or broker commission percentage)] - (Commission PayBal)

In the invoice is a Net Broker invoice, AdjPayAmt does not calculate a partial payment to an employee if the only reduction is the amount of broker commission deducted from the invoice. The AR balance of a Net Broker invoice is automatically less the broker commission, so this adjustment does not represent any type of 'payment' on the invoice.

%ARBalRecv

The amount that has been paid to the agency on the invoice, expressed as a percentage of the total.

Technical Calculation: [(Agency Gross - ARBal) / Agency Gross] x 100

If Premium Financing is involved on an invoice, then the %ARBalRecv calculation is based on the percentage of the down payment the insured has paid. For example, if the insured pays 50% of the total down payment, the producer is paid 50% of their total commission for the statement. This is true even if total credits against the gross premium (payments + invoice credits) equal a larger percentage.

ARBal

The amount of the invoice owed (accounts receivable balance) to the agency as of the statement ending date selected for the Commission Payable Statement.

The current invoice balance may be different.

AgcyGross

Gross amount of invoice.

AgcyRate

Agency commission rate.

When the agency commission rate is split, this field is blank.

AgcyComm

Agency commission dollar amount.

APBal

Net amount due to the insurance or brokerage company on the invoice.

Inv #

Invoice number.

InvDate

Invoice date.

InvSeries

This is theInvoice Seriesnumber.

Void

Displays the word VOID if the invoice has been voided.

Binder

Displays "Binder" if this invoice is a binder billing.

Displays "Replace" if this invoice is a replace binder invoice.

Bill Type

ABI: Agency bill invoice.

DBI: Direct bill invoice.

CSI: Commission statement invoice.

Writing Company

Writing Company

Plan

Company plan.

DBCommRecv

Dollar amount of the direct bill commission receivable.

This field displays the commission receivable for Customer Center Direct Bill (DBI) transactions. Otherwise, this field is blank.

%DBCommRecv

Direct bill commission receivable expressed as a percentage.