The purpose of the Premium Trust Reconciliation is to provide detail of the total that should be in the premium trust bank account. The report totals all payments applied to account current items by the customer, minus the earned commission, minus the amount paid to the company, plus payments, and minus advances and returns left on account. This report reflects the current status of the items in TAM. It cannot be run for a specific timeframe.
The following criteria must be met for an item to appear on the Premium Trust Reconciliation.
For an item to drop off the Premium Trust Report, it must be considered a "Closed" item. To be a closed item, the item must meet the following criteria:
Once an item meets all of these criteria, the next time the Close Item/Calculate Last Item utility is run (this will run automatically if you pack the TRANSACT database on a regular basis) and the item is marked as CLOSED.
If you have items that appear on the Premium Trust Report that you do not feel should be on the report, those items do not meet one of the above criteria. Look at the items through Update Transactions to see the detail. Then you can see if the items need to be reconciled, or if you need to record a journal entry between items to zero the balance, or if the items are in an open accounting month.
Last Revised: February 19, 2008 02:24 PMSWE884