Accounting

Agency Bill Invoicing in EZLynx

The completed document should include:

  1. Agency Bill Invoice form (Click here to download)
  2. Invoice – provided by the company
  3. Finance agreement, if applicable – you will produce from the company
  4. Invoice Register (Excel File – Accessed by clicking here)

Video Tutorials and examples:

Agency Bill Invoicing – General Overview

Agency Bill Invoice form naming and saving with supporting documents

Agency Bill Invoice Processing with Broker Fee and NOT financed

Agency Bill Invoice Example Capstone inline commission and commission split with producer

Agency Bill Entering and applying a payment to a policy and account

Applying an Epay Policy Payment to an agency bill policy

The completed document should include:

  1. Review Agency Bill Invoice Form
  2. Complete Invoice Register Excel File
  3. Create Agency Bill Invoice in EZLynx
  4. Apply payment to the client in Ezlynx and enter Epay Policy payments in QuickBooks

Step 1: Agency Bill Invoice Form overview

Video tutorial:

This document is used to:

  1. Create an invoice in Ezlynx
  2. Enter the corresponding transaction in QuickBooks
  3. Complete Invoice Register excel file

This document will include the following pages:

  1. Agency Bill Invoice Form with policy specific information
  2. Copy of Invoice from the specific general agency company
  3. Finance agreement if the policy is financed

Entering the agency bill invoice:

  1. Open Agency bill invoice form
  2. Open Ezlynx to the client as listed on the Agency bill invoice form
  3. Find the desired policy, click Actions, then Edit
  4. This will load the Edit Policy Screen. Here you need to verify:
  5. Policy number
  6. Policy dates
  7. Master company
  8. Billing Type as “Agency Bill”
  9. Billing company matches master company (the name may be shortened and have AB in the name)
  10. Generate Invoice is set to “Yes”
  11. **ADD IMAGE**
  12. Click “Save” in the bottom right corner to load the Create Invoice screen
  13. Enter the following information:
  14. Billing premium
  15. Commission as dollars and change the type from % to $
  16. If policy is financed change Invoice Type to “Premium Finance” then select the correct Finance Company.
  17. Enter an additional taxes, fees, and broker fees as necessary

Agency Bill Entry Examples

Once completed with these tasks save a copy of this document in your images folder under Processed Invoices, as shows here.

Make sure the name the document using this format:

YYYY-MM-DD-Invoice-Client_Name_Transaction Type

in the example provided it would look like this:

2020-05-15-Invoice_Life Changing_Renewal

Step 2: Complete Invoice Register Excel File

Video tutorial:

Purpose:

  1. Record all agency bill invoice in a given month in sub-groups by general agency (Billing company)
  2. Sum broker fee by billing company and for the month
  3. Sum commission by billing company and for the month

Needed Items:

  1. Agency Bill Invoice Form
  2. Invoice Register Excel File – located as seen below

Step 3: Create Agency Bill Invoice in Ezlynx

To create an agency bill invoice in Ezlynx you need the following:

  1. Ezlynx logged into the proper client
  2. Agency Bill Invoice Form
  3. Including invoice from insurance company for the client
  4. Finance agreement if financed

Video tutorial:

Step 4: Apply payment to the client in Ezlynx and enter Epay Policy payments in QuickBooks

Needed items:

  1. Logged into Ezlynx to the property client
  2. Logged into QuickBooks
  3. Copy of Agency Bill Invoice Form

Video tutorial:

Here are some agency bill entry examples:

Cancellation Invoice of a Financed Policy

Agency Bill Invoice Full Pay NOT Financed

Return Premium from an Endorsement – not financed

Quickbooks Online – Finding bank reconciliation errors

Policy payments. EPAY policy payments

Here is the process:

  1. 1st payment declined – advise client, give them the benefit of the doubt, don’t cast any blame to them but send them link again tell them there is, unfortunately, a $10 billing fee that they charge us and include that in the new payment link.
  2. If we enter it wrong we will eat that. If they do, they need to pay that.
  3. Let me know that the epay payment was declined and you sent a new epay link to the client
  4. 2nd payment – give it a week to be sure it is not declined
  5. After a week, close your diary and let me know that the payment has gone through
  6. If declined. Advise the insured it was declined again and use the following wording:
  7. “Unfortunately it looks like your payment was declined again. I can send a payment link again but understand the following: There is a $50 billing fee for the next payment and if the payment is declined the company will cancel the insurance flat and notify all certificate holders that coverage was terminated. Sorry, there is nothing we can do about this ruling, would you like me to send the payment link again?”
  8. If they say yes, send it with the extra $50
  9. 3rd payment decline.
  10. Let the client know it declined
  11. Present a copy to the finance company and insurance company letting them know the payment was declined 3 times and ask for flat cancellation.
  12. Let me know we have reached this stage
  13. Follow up daily until the company and finance company confirm they are canceling flat
  14. Once canceled flat, get me the invoice and invoice form. 

EZLYNX : Commission reports for commission by user:

Direct Bill – You can use the commission by producer report, export it in an excel file and filter or on the policy management side, there is a commission by producer report that allows you to filter by agent.

Agency Bill – accounting report commissions by producer, you will be able to see agency bill commissions

Ezlynx accounts payable parameters

  • Days From Effective Date: The payable will appear on the Effective date of the policy or transaction date if there is not an effective date. If you have added a days grace the payable due date will be the effective date plus the days grace that is set.
  • Days From Bill Date: The payable will appear on the day that your Bill the policy plus any days grace that you have added.
  • Days From Effective Bill Date: The payable will appear days following the latter of the effective date and billing date, the system will chose the latter of the two.
  • Days From Effective Bill Date Month End: The payable will appear days after the end of the month following the latter of the effective date or the billing date, whichever falls later in the month.
  • Fifteenth Or E O M Based On Effective Date: The payable will appear Days after either the 15th or end of month following the effective date, this depends on when the Effective date falls and will choose the latter of whether it is before or after the 15th or EOM.
  • Account Current: The payable will appear appear 45 days after the end of month following the effective date, note that this the only payment term where Days Grace is not considered.

Steps to process producer payables:

1. Ezlynx – Processing Commission Statement

2. Ezlynx – Producer Payables Processing reports

3. QuickBooks – Paying producers

How to send a QuickBooks payment:

Click here for QuickBooks Payment