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Agency Bill Reconciliation

To confirm the accuracy of carrier statements, Nexsure provides the ability to compare posted invoices in Nexsure with the carrier statement.

To Perform a Reconciliation 

  1. On the Primary menu, click ORGANIZATION.
  2. Select the territories tab and select the Details icon next to the territory to reconcile.
  3. Select the accounting > transactions > reconciliation tab.
  4. Click [Add New Reconciliation]. The Reconciliation dialog box is displayed.

  1. Select an Entity Type from the list and search for the entity.
  1. Once the entity is found, click OK. The reconciliation tab is displayed.

Note: Use the Maximize / Minimize icon to display the full screen view of the reconciliation.

  1. In the Quick Navigation panel, there are several reconciliation options. The following example is for reconciling agency bill invoices by clicking Transactions - Agency Bill.

  1. In the Select column, select the check box next to each invoice to be reconciled.
  2. If partial payments are to be made on an invoice, click the Details icon and enter the amount.

Note:  Each invoice is posted showing the individual LOBs for that policy. There may be multiple invoices with the same invoice ID, these are not duplicates, but different LOBs on a package policy.

  1. In the Navigation Toolbar, click Save.
  2. In the Navigation Toolbar, click Pay All Selected. The Pay All Selected dialog box is displayed.

  1. In the Pay All Selected dialog box, verify the amount to be paid on Agency Bill. Click OK.

Important: If there is more than one page (or screen) of invoices, clicking Pay All Selected will only pay the invoices that are displayed on the current page. Navigate to each page, select the invoices to be paid and click Pay All Selected.

  1. On the Navigation Toolbar, click Post. The Post Reconciliation dialog box is displayed.

  1. In the Post Reconciliation dialog box, verify that the general ledger postings are correct. Click OK. The reconciliation tab is again displayed showing any remaining invoices.
  2. On the Navigation Toolbar, click Reconciliation Summary to return to the initial reconciliation tab.

Related Topics

Direct Bill Carrier Statement Entry

Revising Commission During Reconciliation