Platinum has the most powerful accounting package in the industry and you don’t have to be an accountant to understand it. It is entirely written in conventional insurance terms. You perform functions like renewals, endorsements, and such on easy to understand screens and all the difficult double-entry bookkeeping work is done for you behind the scenes. And reports keep you on top of the flow of your business

Agency Master accounting is very extensive. From the original posting of the client payment (tracks either single payment, split payment, post dated check, or promissory note)  Agency Master we will print your client receipt (which can double as an invoice if post dated check or promissory note), post to Accounts Payable (internally knows if this is a sweep or if AM needs to print a paper check), post to Accounts Receivable (separate line items if split); can post to Carrier commission receivable if necessary, and producers commission payable if your producer gets a percentage of a payment fee.  After your accounting person posts the client payment from Accounts Payable and Accounts Receivable to the Trust/Escrow account, you will at that moment have an exact balance. You will at any moment of the day know what your balance is and Agency Master can write out a paper check or transfer agency fee/broker fee money to your operating account.  After you make your daily deposit at the bank you can then post the deposit into the Trust/Escrow account. At the end of the month you are ready for full account reconciliation. Once you have reconciled your account, you then can have access to a full Trust/Escrow account history by the month.

Agency Master has a very powerful and extensive accounting package and you don’t have to be an accountant to understand it. It is entirely written in conventional insurance terms. You perform functions like new business, renewals, and endorsements, on easy to understand screens and all the difficult double-entry bookkeeping work is done for you behind the scenes.

  • Account Current Statements: Easily reconcile your account current statements from your carriers and group highlight all line items that is on your statement, print a check with the total of all line items and print itemized list with named insured, policy number, and dollar amount. Staple check to printout and you are done! Users tell us that what they do now in a minutes used to take up to an hour or more!!
  • Set up Producer Commissions: Separate percentage or flat amount for: New Business / Renewal / Broker Fee / or Endorsements
  • Accounts Receivable
  • Accounts Payable
  • Trust/Escrow/Premium Account
  • Tracks and records all customer payments received in the agency
  • Broker Fee Tracking
  • Commission Tracking
  • No need for quick books for Invoicing or Trust account, tracking done within system
  • Automatic handling of Sweep accounts (no need for separate account)
  • Print checks using Quick Books style 3 on a page
  • Current Available balance in trust account
  • Commission Income: Track all earned commissions received or due and all return commissions
  • Commission Expense: Track all commission, return commission, broker fees due to the House / Producers / Sub-Producers / Outside sales brokers. Also filter to agency bill, direct bill, return commission, and broker fees .
  • End of Day Cash Drawer Balancing
  • Trust Account Bank Statement reconciliation
  • Trust Account Bank Reconciliation history
  • Complete trust account with check printing and sweep payment tracking
  • Sweeps Paid
  • Checks not yet printed
  • Deposits Register: Applied and Non-Applied deposits
  • NSF Report
  • Agency Bill, Direct Bill, & Premium Financed policies
  • Unlimited policies Premium Financed combined into 1 invoice. For example: In Trucking you could have Liability with one company, Physical Damage with another, Motor Truck Cargo, and General Liability with another. In this example you can have:
    • 1 Receivable
    • 4 possible payables to their separate account current statements
    • 4 different total commissions per policy
    • 4 different multiple split commissions. Up to 3 splits per policy. House / Producer / Sub-Producer.
  • Installments: For example, you have an agency bill policy that the GA allows you to have an 8 Pay Plan with: a deposit (of “X” % down) 7 installments, first installment due in “X” amount of days and “X” amount of days in between. Enter this information in 30 seconds, click Post Invoices and in 1 second have 8 separate invoices with their own separate Invoice Date, Due Date, Receivable Installment amount, Payable to account current, 3 possible commission split. All this in less than 1 MINUTE !!!!!  Also, we create a workflow item for each payment date to remind you when the payment is due.
  • If you collect partial payments on receivables, post your partial payment, then create a statement of what was received on an invoice and email the statement for the balance.
      • Receivable: Check
      • Receivable: Credit Cards
      • Receivable: Cash
      • Receivable: All
      • Payables
      • All Receivables and Payables combined
      • Checks not yet printed
      • Checks and Transfers Paid
      • Sweeps Paid
      • Deposits: All
      • Deposits: Applied
      • Deposits: Non-Applied
      • Deposit Register: Double click a total deposit amount for any date and see all deposits for that day
      • Checks: Voided
      • Checks: NSF
      • Commission Tracking: House; Producers; Referral Fee
      • Commission Agency Bill Tracking:
      • Commission Direct Bill Tracking:
      • Filter to client in cue only
      • Date Ranges from and to
      • Filter: Lines of Insurance
      • Filter: General Agent / Underwriter / Direct Carrier