Difference between revisions of "Invoice: Adjust Producer Payable Commission for Expenses or Deductions"
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<li>[[Journal Entry]]</li> | <li>[[Journal Entry]]</li> | ||
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− | #Select '''Finish''' then '''Exit''' to close [[ | + | #Select '''Finish''' then '''Exit''' to close [[Policy & Billing]]. |
Return to [[Reconcile Producer Payables|AP -> Reconcile Payables -> Producer Payables]] and the amount due will now reflect the adjusted amount. | Return to [[Reconcile Producer Payables|AP -> Reconcile Payables -> Producer Payables]] and the amount due will now reflect the adjusted amount. |
Revision as of 21:51, 13 March 2019
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The procedure details the transactions required to adjust the Producer Payable (GL-2120) on either agency bill or direct bill invoices for non-invoiced reasons, such as cell phone expenses or health insurance premiums.
This process should only be used for one-time expenses, if the producer does not receive a recurring payroll check.
See: Producer Payables: Include Producer Commission in Payroll Check for recurring payroll entry including commission.
Find an Invoice for the Adjustment
- Select Producer -> Reconcile Producer Payables.
- Enter the Producer's Code.
- Enter the desired Start Date and End Date for the invoices to be paid. Select OK.
- Write down any one of the listed invoice numbers which will be paid.
- Select the Red X to exit without saving or performing the reconciliation.
Adjust the Invoice
- Select Accounting -> Policy and Billing.
- Select Invoice -> Find Invoice.
- Enter the invoice number from above. Select Ok.
- Double-Click the first invoice line.
- Select Adjust.
- Adjustment Details:
- Select Producer.
- Enter the Amount, and the Offset G/L. (To decrease the amount, enter as a debit. To increase the amount, enter as a credit (-).)
- Select Accept.
- Select Finish then Exit to close Policy & Billing.
Return to AP -> Reconcile Payables -> Producer Payables and the amount due will now reflect the adjusted amount.