Is your agency receiving the right commissions from the carriers? You can quickly find the answer to this question by using AgencyBloc’s Commission Not Received reports. Run these reports by Bill From Date or Statement Date, and send them to the carriers for reconciling.
To use these reports:
- Select Bill From Date or Statement Date in the Report Criteria.
- Bill From Date: Represents the premium period(s) you are getting paid for on each statement. Depending on how often the carrier sends statements there could be more than one bill from date in the file.
- Statement Date: The date your agency received payment. There is one statement date for a carrier commission statement. If there is more than one period of time in the statement, using the statement date may not be as accurate.
- Specify a particular month or a range of months.
- Add filters (optional).
- You can filter the missing commissions by carriers, policy effective date, and policy status.
- Download CSV.
Your report download will include information on the policy, policyholder, carrier, commission frequency, and servicing agent.
You will also see columns for every month that you specified in the report criteria. These columns will show you exactly which months your agency received or did not receive a commission with one of these descriptions:
- Not received - This means a payment has not been received.
- Received (amount) - If a payment has been received, the amount will be shown.
- N/A - A payment was not expected.
Compare the commission frequency against the commission activity. This will help you reconcile the activities you see. If the commission frequency of a policy is bi-monthly, for example, you might expect to see “N/A” every other month for that policy.