Newton by Agency Systems | Insurance Agency Management Software for Independent Agents

Overview:

The Agency Systems Direct Bill Commission Download automates the direct bill payment process. The insurance carrier provides a special AL3 file which has details of commission payments; Agency Systems processes this file, automatically matches payments to existing invoices and policies, and greatly facilitates the process of manually matching those payments which were not automatically matched. After all payments are ready to process, the download creates the cash transaction, all the payments, policies and invoices as needed.

Video Tutorial:

Commission Download

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Process:

There are four phases to the commission download:

1. First, the commission download AL3 file is loaded and the download attempts to locate each policy in the file. If the policy is found, it looks for an invoice that matches the payment. If download locates an invoice that matches closely (based on transaction date, amounts, transaction type, class and department), it sets the payment to pay that invoice. Otherwise, download will generate a new invoice.


2. Second, the download is manually inspected and modified where needed. The automated preparation will generate a set of notes and or errors which might need additional attention. The user may modify the action to be taken on each payment, and suppress notes which do not pertain to the agencies setup.
   
   The manual preparation does not have to take place all at once. If you exit the commission download window and return to it later, it will resume exactly where it was left off.


3. Next, review the cash details. This will specify the bank for the cash, the company paying the commissions, the department code, effective date, and the optional check number and description.


4. Once the commission download is fully configured and the notes have been corrected or suppressed, the download can be processed. Up to this point, the download has not created anything. Now, in a single step, it creates the cash transaction, and all the payments, invoices, and policies specified by the configuration.