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Agency position

Open Accounting > Agencies to see each agency’s open position:
  • They owe us from open agency-bill invoices.
  • We owe them from unpaid commission payables.
  • Net after the two are offset for display.
Direct-bill and MGA-bill policy transactions accrue agency commission payable. Agency-bill invoices already withhold the commission and do not create another payable.

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Generate a statement

Choose the agency and month, then select Generate statement. The statement freezes the open invoice and unpaid commission-payable lines it finds at that time. Repeating the same agency and month returns the existing snapshot.
The selected month labels the statement but is not currently an as-of cutoff. Generation includes all open agency invoices and unpaid commission payables it finds, regardless of their document date. Review the CSV before issuing.
The CSV contains each amount due from and due to the agency, followed by totals and net. Any member can generate and issue a statement. Issue changes the state but does not email or otherwise deliver it; download the CSV for delivery outside the workbench. Admins and owners can select Pay on an Issued statement. Underflow takes the still-unpaid frozen commission payables, including negative reversals, and sums them without offsetting invoices due from the agency. When that payable total is positive, it records one Paid trust disbursement and marks those payables paid. It does not initiate ACH, wire, or check. If the payable total is zero or negative, the statement becomes Settled without a disbursement and the payable rows remain open. Review that position before generating a later statement.

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Premium ledger

Accounting > Ledger shows the newest 200 premium-event rows: bind, premium-bearing endorsement, cancellation, and reversal. The register includes the file, policy, program, gross premium, commission, and net due carrier. Ledger rows are immutable. A correction is a new reversal row. This register does not contain payments, allocations, transfers, or disbursements.

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Earnings

Open Accounting > Reports and choose a ledger month. The earnings report shows written and earned premium for that month and to date, plus unearned reserve, by program. Earnings are calculated on demand. They accrue daily from the later of the policy effective date and booking date through expiration. Negative cancellation and endorsement rows reduce later earnings. The report has no close state and can be downloaded as CSV.

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General-ledger export

Choose a date range under Reports to download the GL CSV. It projects invoices, agency payables, payments, allocations, Paid disbursements, and fund transfers onto Underflow’s fixed chart of accounts. Draft, Approved, and Voided disbursements do not enter the ledger. Tax and fee remittances post against the tax and fee payable account. The export contains journal date, document number and type, account code and name, debit, credit, memo, and totals.

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Other reporting registers

  • Bordereaux and carrier settlements covers monthly carrier reports.
  • State filing covers statutory transaction reporting.
  • Accounting > State rules is a read-only table of state rates, fees, forms, verification, source, and refresh date.
  • The Trust toolbar provides the 1099-NEC preparation worksheet.