Direct Bill: Record Commissions By Company Without Invoicing

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The simplest method to record Direct Bill income is to deposit the commission checks (cash receipts) into your bank, and record the monies received directly as income.

If you choose to deposit the monies straight to income:

  • You will not be able to review or report on accounting information specific to policies.
  • You will not be able to Reconcile Producer Payables.
  • You will lose the ability to reconcile the direct bill company statement which can find errors.
  • You will be able to obtain estimated annualized premium production numbers from the Management Tab or the exported Policy Production Report.
    (For policies that are downloaded, the term premiums are included in the download. For policies that are not downloaded, the premium must be entered manually.)

For a more comprehensive feature set, see: Direct Bill: Commission Statement Processing.

Setup: Create the G/L Account for Direct Bill Commission Income

Requires Setup -> Security System -> Profiles -> General Ledger -> View and Entry access.

  1. Select Setup -> General Ledger.
  2. Select Add.
  3. Enter Code -> 4121,
  4. Enter Name ->Direct Bill income.
  5. Select <Tab>.
  6. Select G/L Type -> Income.
  7. Select G/L Sub-Type -> Operating.
  8. Select Sub-Account Type -> Company.
  9. Select G/L Inquiry Report Options -> All Details.
    Setup-gl-cmbycomp.png
  10. Select Save then Exit.

Record Payment From Company Directly To Income

Requires Setup -> Security System -> A/R -> Cash Transaction -> View and Entry access.

  1. Select Company -> Cash Transaction.
  2. Enter the Date for the receipt of commission into the general ledger.
  3. Enter the Bank Code.
  4. Enter G/L -> 4121. (Do not use GL-4120).
  5. Enter Sub G/L -> Company Code for the direct bill company. (From Example: AET - Aetna Insurance Co.)
  6. Enter the Department Code.
  7. Enter the Check # or EFT for direct deposit.
  8. Enter a short Description.
  9. Enter the Original Amount of commission received. (For multiple departments, only enter the amount received per department.)
    Company-cashtrans-cmbycomp.png
  10. Select Accept -> Exit.

Report Direct Direct Bill Commission Income

This report process is only used if the direct bill commission is recorded directly to income.

Requires System -> Security System -> G/L -> General Ledger Detail -> View access.

  1. Select Reports -> General Ledger Detail.
  2. Enter G/L -> 4121.
  3. Select the desired Start Date and End Date.
  4. Select Group and subtotal by sub GL.
    Gl-reportsgldetail-cmbycomp.png
  5. Select Preview.