Overview
There are three important date fields in the Commission Module: Carrier Statement Date, Agent Statement Date, and Bill From Date. Each date groups your commission data in different, meaningful ways. In this article, you’ll learn what each date means and how each is used in AgencyBloc.
IN THIS ARTICLE
Carrier Statement Date
The Carrier Statement Date (CSD) represents the month you are getting paid in. You'll often find this date on the carrier statement. There is usually one CSD for each statement.
How is it used in AgencyBloc?
Every time you create a new Transaction or upload entries to a new Transaction, you must set the Carrier Statement Date (CSD).
The Carrier Statement Date (CSD) is also the same date on Transactions. A Transaction is a container for storing and organizing your entries by statement. In most cases, you will have one Transaction for every carrier statement you upload. Sometimes, you could get multiple statements from the same carrier. If you want to keep them together, you can upload them to the same Transaction.
Agent Statement Date
The Agent Statement Date (ASD) can be any date you want, but it’s usually the date you plan to pay your agents. It could also be the date your agents start repaying you for a debt owed, like an advance or a negative adjustment.
How is it used in AgencyBloc?
Every time you add a commission entry (via import or manual entry) or agent adjustment, you must set the Agent Statement Date.
Commission Entry
Agent adjustment
Once you have some commission entries in AgencyBloc, you will have the option to finalize agent payments and lock Agent Statement Dates.
Locking dates is important because it allows you to:
- Track and carry forward agent debt in AgencyBloc.
- Give your Agent Statement Users access to their statements.
Need to update the Agent Statement Date for a bunch of entries? You can mass update the Agent Statement Date on multiple entries by merging two dates into one.
Bill From Date
The Bill From Date (BFD) represents the premium period you are getting paid for. You will usually see a BFD for every payment on a carrier statement.
Please note that most carrier statements include the BFD, but it could go by a different name. Some call it the "Paid From Date" or "Premium Due Date" while others call it the "Billed Date". If a statement does not have the BFD, you can go off of the Carrier Statement Date instead.
How is it used in AgencyBloc?
The Bill From Date (BFD) is found on commission entries only as an optional field.
You don’t have to set the BFD on your entries, but you will miss out on some powerful commission functions if you skip it. In particular, you need the BFD to maximize the benefits of the Commission Not Received report and project commissions.
If you want to mass update the BFD on your commission entries, contact the Client Success Team at help@agencybloc.com for assistance.