Accounting

The following items have been either resolved (D#) or added to (F#) Nexsure. Click the Video icon to view the instructional video that details the changes to Nexsure.

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Item # Nexsure Version Category Subtopic Description of Change Video
B12690 & 12691 1.83 Accounting

Disbursements

Receive Payments

Added Location Name and Address fields to Client query of the following:

  • Receive Payments
  • Disbursements
B12715 1.83 Accounting Commission Added departmental commission default.
B13150 1.83 Accounting Disbursement Added Disbursement ID field to Searchable Criteria options when using the [Show] filter on the disbursements tab.
B13151 1.83 Accounting Deposits Removed irrelevant fields and added Cleared field to Search Criteria found when using the [Show] filter on the deposit tab.
B13152 1.83 Accounting Accounts Payable Renamed Check Amount field to AP Amount in Search Criteria found when using the [Show] filter on the accounts payable tab.
B13153 1.83 Accounting Invoices Added Mode column to invoices summary list.
B13154 1.83 Accounting Invoices Added Invoice Mode and Print Status to the list of Sort Fields under Sort Order. The list of Sort Fields has also been alphabetized. These options appear when using the [Show] filter on the invoices tab.
E480 1.83 Accounting Setup

Bank account setup: Agents need to be able to select the name/address that prints out on their checks.

Defaults - Provide expanded default capability in setup for accounting processes: check print type.

E497-501 1.83 Accounting Accounts Payable, Disbursements, Journal Entries, Receive Payment, Reconciliation

Added Save Filter Settings check box for the search criteria of the following accounting transactions:

  • Journal Entry
  • Disbursements
  • Receive Payments
  • Deposit
  • Accounts Payable
  • Reconciliation
  • Invoices
E1146 1.83 Accounting Transactions Added Balance Detail transaction view at client level to provide a snapshot of all accounts receivable items making up a customer balance.
E1909 1.83 Accounting   Prohibit or flag 100%+ other production credit.
F618, F3939, F4508, F4509 2.0 Transactions Commissions, Invoices

The Retail Agent policy info and invoice functions have been updated to include:

  • Ability to include commissions on invoicing.
  • Net and gross broker billing.
  • Add % of fee as a Rate Type.
  • Add default for % of Net Agency Commission as a Rate Type.
F982 1.94 Setup Bank Recon Bank Account Reconciliation‐ Create new section in bank account setups for bank reconciliation process including "Starting Balance" field.
F2458 1.92.5 Transactions Policy Info Change the carrier at underwriting screen, Nexsure does not update the Policy Info / Other Commission default. Policy info tab default analysis and modifications.
F2788, F2794, F2801, F2802, F3219 & F3209 - F3211 1.93 Accounting   A 1099 check box has been added to the general ledger line items for disbursements, receive payments, accounts payable and reconciliation. A 1099 check box has also been added to the display and edit at org association for vendors.
F2789 2.0 Transactions Policy Info
  • Invoice defaults can now be set up for production credit handling, the two new default options are:
  • Select the Permit Production Credit line item total over 100% option if the policy info and invoicing production credit can exceed 100%. When selected, this function allows over allocation when editing an invoice. When entering a total over 100% in the policy info, a warning will be displayed, but the excess will be permitted.
  • Select the Production Credit line item total must be 100% option if the policy info and invoicing production credit cannot be less than or greater than 100%. Entries that do not equal 100% will not allow the policy to be placed in force or an invoice to be posted.

Also, production credit allocation now includes 4 decimal breakdown. Entry greater than 4 after decimal rounds up ending in 5 or greater, down less than 5. (F2789)
F2793 1.92.5 Accounting Invoice Edit capability is available for production credit in the invoice after posting.
F2948 1.93 Accounting Direct Bill Reconciliation An improved process allows the user to create and post invoices quickly from a carrier's direct bill commission statement, through reconciliation, without having to access individual clients.
F2958 1.93     Added internal note to be displayed on the transaction summary screens when the pointer is paused on a transaction.
F3054, F3056 1.93 Accounting  

Add a check box to bank account set up, for MICR checks only, to add the 2nd signature line. Add memo line in bank account set up to reference 2nd signature line requirements.

F3298 1.91 Accounting General Ledger General ledger drill down.
F3411 1.94 Transaction Client Recon Add recon section for client application of open items including balance write off against a general ledger number, offsetting invoices, and residuals. (Part 1 Offsetting Invoices)
F3411 1.94 Transaction Client Recon Add recon section for client application of open items including balance write off against a general ledger number, offsetting invoices, and residuals. (Part 2 Write-offs)
F3411 1.94 Transaction Client Recon Add recon section for client application of open items including balance write off against a general ledger number, offsetting invoices, and residuals. (Part 3 Residual Application)
F4175 2.0 Transactions Receive Payment Retail Agent-Expanded receive payment processing with client invoicing.
F4176 2.0 Transactions Disbursement Retail Agent-Expanded disbursement processing with client invoicing.
F4177 2.0 Transactions Reconciliation Added Retail Agent payable reconciliation functions.
F4177 2.0 Transactions Reconciliation Added Retail Agent receivable reconciliation functions.
F4179, F4181, F4994 2.0 Retail Agent Transaction View

The following transactional views have been created for the retail agent:

  • Retail Agent Transaction link-Balance Details
  • Retail Agent Transaction link-Invoice Summary
  • Retail Agent Transaction link-Payable Summary
F4516 - F4518 2.0 Accounting Retail Agent

The following posting rules updates have been made for the Retail Agent functions:

  • Revise Organization posting rules layout.
  • Revise retail agent posting rules at department.
  • Add posting rules at retail agent file.
F4518 2.0 Accounting Retail Agent Add posting rules at retail agent file.
F5552 F5553 F5554 F5555 F5556 2.1 Transactions Policy Info Options are now available on the invoice defaults tab to enable copying of policy info from a previous policy to a new policy. This option is available to copy policy info for any of the following functions: Market Existing, Mass Market, Renewal, and Rewrite. This video discusses setup options as well as results on the policy info screen when the new copy option is selected.
F3166; F2464; F5572; F5573; F5621; F5622; F5818; F5822 2.1 Accounting Reconciliation These features allow clearing partial amounts of receive payments, disbursements and carrier reconciliations. In this video, how to use a single receive payment in multiple carrier reconciliations and to disburse any remaining amount to the carrier is shown. See how Nexsure tracks these transactions in a new link called Recon Clearing Activity.
F6373 & F6479 2.1.2 Accounting   A process to reverse and rebill an invoice is available in the event a client needs to be rebilled. This rebill process will not be available if the invoice has already been rebilled or the invoice is a reversal. The rebill policy header will be prefilled from the source policy header. The premium, tax, fee, commission and other commission will come from the original invoice.
F6444 2.1.2 Accounting   Automatic production credit allocation has been added. Use the [Auto-Allocate] feature to redistribute the production credit equally among all Other Commission line items. Click [Save] when complete. The distribution can also be changed manually by making entries in the Production boxes and clicking [Save]
F1687, F6675 & F6700 2.1.3 Client Summary Accounting Added the ability to invoice multiple item numbers pertaining to different policies on the same summary invoice.
F6364 2.1.3 Global Reassignment Accounting Global Reassignment - option to update other Commissions amounts on policy info and unposted transactions.