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Open Accounting > Trust for the desk’s cash position, transfers, and disbursements. Underflow maintains one Premium Trust account and one Operating account for the workspace.

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Read the position

The summary shows:
  • Trust cash: recorded money in less paid trust disbursements and transfers.
  • Fiduciary liabilities: unpaid carrier settlements, net unpaid agency commission, unapplied trust receipts, accrued taxes and fees not yet remitted, and approved return-premium payouts.
  • Sweepable surplus: trust cash less all of those liabilities.
  • Operating cash: recorded balance of the Operating account.
These are register balances, not live bank balances. Draft disbursements are not yet commitments; approved return-premium payouts are. Treat the displayed surplus as an operational calculation, not a complete legal trust-accounting opinion. Use bank reconciliation to compare the register with a bank statement.

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Record a transfer

Admins and owners can select Record transfer and enter:
  • From and to accounts.
  • Amount.
  • Transfer date.
  • Reference.
  • Purpose: commission sweep, trust funding, or other.
A transfer is recorded as complete and changes both account balances immediately. The same account cannot be used on both sides, and the amount must be positive. When money moves from Premium Trust to a non-trust account, Underflow refuses an amount greater than the current sweepable surplus. Every write to the desk’s ledger, from booking premium to paying a disbursement, takes one lock on the desk’s money first, so the surplus is measured against a position nothing else is changing; two cash-outs cannot both pass the check on the same surplus. Funding Premium Trust from Operating does not use the limit.

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Prepare a disbursement

Any member can create a draft for return premium, agency commission, or tax and fee remittance. Enter the amount, expected payment date, memo, and agency when the purpose requires one. These fiduciary disbursements must use a trust account. Admins and owners can approve a Draft, mark an Approved row paid, or void a Draft or Approved row. The product does not require the drafter and approver to be different people. Every member can download Approved rows as a bank CSV with the number, payment date, payee, amount, currency, method, and memo. The current draft form has no payment-method field, so that column is blank for drafts created in the workbench. A return-premium row has no structured insured or payee field, so its memo is used as the payee in this export. The file has no bank-routing fields and does not initiate payment. After the bank movement occurs, select Mark paid and record its reference. This replaces the expected date with the current UTC date; the current form has no field for the actual bank date.
Marking a disbursement paid does not check the available bank or trust balance. Confirm the position and the bank before recording payment.

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Disbursements created elsewhere

Two accounting workflows create Paid disbursements directly:
  • Recording a positive carrier settlement as paid creates a carrier-remittance disbursement.
  • Paying an agency statement creates an agency-commission disbursement.
Those rows do not pass through Draft and Approved because the authorization happens in the source workflow.

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1099 worksheet

The Trust toolbar lets every member download the current year’s 1099-NEC worksheet, including agency tax IDs. It includes agencies with at least $600 of paid agency-commission disbursements during that calendar year. Missing W-9 dates or tax IDs remain in the file as MISSING so the desk can follow up in Distribution. The worksheet is an export for preparation; Underflow does not file the forms electronically.