General Topics > Accounting

Does anyone NOT have separate company codes for deposits?

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DebAmstutz:
This agency has one account number for "direct bill commission" and it's driving me crazy.  I say we need separate company codes for direct bill as a double check on production - so the commission deposited on any particular company can be matched with the direct bill report for that company.  If it doesn't match, then there's an issue with downloaded transactions or entered transactions.  Branches are not used on deposits unless a deposit is for customers' agency bill payments.  Should the deposits not reflect production?  I like checks and balances.  I would have found some of the accounting issues much earlier if numbers were more specific here.

Does anyone else - either TAM or EPIC - just have one account for DB commission and no separation of branches within deposits?

Jim Jensen:
I'm not sure what you're asking exactly. Are you talking about a separate account in the chart of accounts for each company under direct bill income, like the having a different account for each carrier in accounts payable (e.g. 4004-AOI, 4004-ERI)?  If that's the case, then no, we don't we dump all D/B commission checks in the Direct Bill Commission accounting line, 404. I did use the schedule field for a while, where you can designate a notation and create a schedule code for each carrier, but I found I never used them. I do not transact direct bill commissions, though. Would that be helpful if I did? I don't know. Maybe, but I doubt it, as it's unlikely that you're ever going to have all of your commissions for 1 carrier be 100% allocated to specific producers. However, others that are transacting direct bill commissions may have a different viewpoint.

DebAmstutz:
Yes, I mean the 401-ERI or 401-CIC.  Maybe I'm too picky, but again, I like the fact that I would be able to double check totals between various reports.  Having separate codes also makes looking for something much easier, at least the way I'm used to searching for numbers. 

This agency doesn't use departments either and I think they'd have a much better idea of personal vs commercial if they did.

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