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The Agency Advantage has simplified every area of agency operations and accounting is no exception. There are four distinct areas of accounting.
Production - AA tracks and reports all premiums and commissions using policy activity accounting. This includes reporting by company, by line of business, by CSR/Producer and by location for any date range. Other agency systems begin the accounting process with customer invoice entry. This works fine for agency bill business but is a tremendous waste of time for direct bill business. The Agency Advantage uses policy activity accounting to streamline and simplify accounting for direct bill business. A full accounts receivable module is included for agency bill accounting. Also included is the reconciliation of direct bill and account current company statements.
Point of Sale - AA tracks and handles all money that comes through the front door of the agency. Printing of customer receipts, balancing of cash drawers, daily preparation of deposits and printing of checks to insurance and finance companies, all add tremendous productivity to your office. AA also manages the agency premium checking account, including check printing, current bank account balance, and bank statement reconciliation.
Accounts Receivable - Any time a customer owes money to the agency (not the insurance company), an account receivable is created. This may result from agency bill business where the agency is responsible for collecting premiums. For specialty auto agents it most often occurs when the agency assists a customer by splitting a down payment, or when the agency is responsible for collecting additional premiums created by up-rates or endorsements. A full accounts receivable is module included for managing monies due the agency.
General Ledger - For Balance Sheets and Profit & Loss type accounting in the agency, The Agency Advantage integrates with QuickBooks. This package, from the makers of Quicken, is the best selling and easiest to use general ledger accounting software in the nation. The Agency Advantage will export all checks written along with the proper GL account code to QuickBooks.
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