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January
20, 2009
Volume 5 Issue 1
In this issue:
Understanding the Quick Books Export | Exporting Reports
 From
the Editor
Happy New Year!
We hope your new year is off to a great start. In spite of all of the negative financial
news, we know that many insurance agencies are prospering and one reason
is that they are making the most of their automation. It is our hope that this newsletter
will help you get the most from your Agency Advantage.
If you have a question or topic you would like
explained, a story to share, or just a quick useful tip, we'd love to hear
from you. Please send your responses to tina@agencyadvantage.com.
Tina Stewart
Editor
Understanding
the Quick Books Export
The Agency Advantage manages the agency premium trust account.
By design, The Agency Advantage does not have a built-in general ledger
accounting system or management of the agency operating account.
When money is received into the agency is it receipted into
the customer’s account.
Periodically Deposit Listings are run to prepare the funds for
deposit into the trust account and disbursements to the companies are handled
by EFT (Electronic Funds Transfer) or the automatic check writing system. The method by which the funds are
disbursed is determined at the time the funds are received.
Even though The Agency Advantage has many tools to
manage reconciling the trust checking account, in some cases agencies
may wish to export their transactions to their Quick Books accounting Program.
On the System Setup menu under Agency Information you will
need to enter the Quick Books Checking Account name and the Quick
Books Expense Account where the checks, EFTs and deposits will be imported.
Once you've written checks and processed EFTs in The Agency Advantage using
Process Checks and Process EFTs (on the Accounting menu), you can then export
the checks, EFTs and deposits with the Quick Books Export.
Put in the
appropriate date range and Export Data. The data will be saved in
C:\aausr. You will need to open up Quick Books and import the file from
that directory.
Accounting Note: Commission or fee monies received into
the trust account are tracked by The Agency Advantage and a check is
written periodically to the agency and deposited into the operating
account as income, the same as any direct bill commission check would be
handled. This system greatly
simplifies agency accounting and removes all of the trust transactions
from the general ledger.
Exporting
Reports
An extremely useful function of the Agency Advantage is
the ability to export reports. You can export the data into a CSV
file which is then imported into additional programs such as Microsoft
Excel.
To use the exporting feature, run the report that
contains the data you need. Next, click on the Export button on the
toolbar at the top of the report.
Save the file on your computer. Next, open Excel and
import the file by going to Data - Get External Data - Import Text File.
Excel will allow you to manipulate the data to suit
your needs. For detailed instructions, take a look at our support
article.
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