Report: Daily Management Summary
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The Daily Management Summary provides an up-to-the-moment snapshot of your general ledger transactions in real time.
This managerial tool displays a summary of your General Ledger activity, including bank balances for the day, month, and year.
Instantly see how much volume has been entered today, along with business by effective date for this month, this year, and future dates.
Contents
Access and Window Options
The Daily Management Summary can be opened by selecting Reports -> Daily Management Summary.
Access to the Daily Management Summary is controlled through the security system G/L -> Daily Mgmt Summary -> View setting.
- By default, the current Agency Code is pre-filled. To report for all agency codes, remove the value.
- Enter a Department code or leave blank for all departments.
Report Details
It is very important to remember this report is just a snapshot of what accounting transactions are being entered.
- The values will change with every new, deleted or edited transaction.
- It cannot be used as a reconciling tool although reports can be run to verify the figures appearing on the report.
- The figures can only be verified when operators are not entering accounting data into the system.
Cash
DAY:
- The total cash, checks and journal entries that have been entered today posting to general ledger account 1100-Cash in Bank (all banks combined).
- Transactions entered today with a general ledger date that effect another month appear in this column.
- A cash report, check report and a journal report (for 1100 only) by entry date for today's date will match the cash line, check line and journal line of the report.
MONTH:
- A total of cash, checks, and journal entries to account 1100-Cash In Bank (all banks combined) with a general ledger date equal to the month of the report.
- A cash summary, check summary and journal summary (for 1100 only) by general ledger date (effective date) will match the entries in this column.
YEAR:
- All cash, checks, and journal entries to general ledger account 1100-Cash in Bank (all banks combined) that have been entered and effect this fiscal year through the month of the report.
FUTURE:
- All cash, checks, and journal entries to general ledger account 1100-Cash in Bank with a general ledger date after the date of the report.
- These items will move into the Month column based on the effective date of the transaction and the date of the report.
Invoices
DAY:
- All invoices that have been entered today.
- Invoices entered today with a general ledger date that effect another month appear in this column.
- There are separate totals for agency bill and direct bill.
- An invoice report by entry date for "today's" date will tie to the report totals.
MONTH:
- All invoices that have been entered with a general ledger date for this month.
- An invoice register by general ledger date for the same month as the report would verify the report totals.
YEAR:
- All invoices that have been entered with a general ledger date for the reports fiscal year.
FUTURE:
- All invoices that have been entered with a general ledger date effecting a future month from the date of the report.
Receivables
DAY:
- Net change to the client and company accounts receivable based on transactions entered today.
- This does not represent the total accounts receivable on the balance sheet or general ledger report for 1120-Client Accounts Receivable or 1130-Company Accounts Receivable and will not tie the Aged Receivable reports.
MONTH:
- Net change to the client and company accounts receivable from transactions entered with a general ledger date for the same month as the report.
YEAR:
- The total year-to-date net change to the client and company receivable accounts based all transactions entered with a general ledger date for current year.
FUTURE:
- The total net change to the client and company accounts receivable based on the invoices, cash receipts, checks and journals entered with a general ledger date in future months.
Payables
DAY:
- The net Change to company and producer accounts payable from invoice transactions entered today.
- Invoices entered today with a general ledger date that effect another month appear in this column.
- The invoice register by entry date for "today's" date will tie to the total invoices.
- This does not represent the total amount owed to the companies (2110-Company Payable) or producers (2120-Producer Payables) but just the effect invoices entered today have on the total amount owed to the companies and producers.
MONTH:
- The total net change to the companies and producer payables accounts based on all invoices, cash, checks and journals entered that effect the current month.
- This does not represent the total owed to the companies and producers just the effect of the current months transactions have on the total amount owed to the companies and producers.
- The current month's summary trial balance totals for 2110-Company Payable and 2120-Producer Payable will match the figures in this column.
YEAR:
- The total net change to the companies and producers for this fiscal year.
- The current month's summary trial balance totals for 2110-Company Payable and 2120-Producer Payable will match the figures in this column.
FUTURE:
- The total net change to the company and producer payable based on the invoices, cash receipts, checks and journals entered with a general ledger date in future months.
Commission
DAY:
- The total amount of the commission earned based on the invoices that been entered today for both agency billed and direct billed invoices.
- Invoices entered today with a general ledger date that effect another month appear in this column.
- There are separate totals for agency bill and direct bill.
- The invoice register by entry date for the same date as this report will verify the commission dollars.
MONTH:
- The month-to-date total amount of commission earned based on all invoices entered with a general ledger date for the current month by agency billed and direct billed invoices.
- An invoice report by general ledger date for the same month as this report will verify the commission dollars.
YEAR: The year-to-date total amount of commission earned based on all invoices entered with a general ledger date for the current year by agency billed and direct billed invoices. FUTURE:
- The year-to-date total amount of commission earned on invoices entered in the system with a general ledger date for future months.
Other
DAY:
- The total amount of premium and non-premium booked today based on the invoices entered today.
- Even invoices entered today with a general ledger date that effect another month appear in this column.
- An invoice register by entry date for "today's" date will tie to the total invoices.
- The Profit/Loss figure does not appear on the report because this number changes too frequently.
MONTH:
- The total amount of premium and non-premium business booked and profit/loss based on the invoices entered with a general ledger date for the current month.
- An income and expense report for the same month as the report will verify the total profit/loss.
YEAR:
- The total amount of premium and non-premium business booked and the profit/loss based on all invoices entered with a general ledger date for the current year to date.
- An income and expense reports year to date column will verify the total profit/loss.
FUTURE:
- The total amount of premium and non-premium business booked and the profit/loss based on all invoices entered with a general ledger date in a future month.
Bank Balance
- Current monthly totals for the bank accounts.
- Any amounts in the future column are not reflected in the bank balance.
- This is a balance of all transactions with a general ledger date for the current month which effected the 1100-Cash in Bank accounts.
