Give accounting a clearer place to start.
Carrier statements arrive, and someone has to match the payments to the agency’s records. The work gets harder when the team is moving between statements, account details, and a spreadsheet of items to investigate.
ThreadWise helps match carrier commission statements to your agency’s records and pull out missing, short, or unmatched payments. Accounting can then review the items that need attention and decide what to follow up on.
Follow the way your agency reconciles commissions.
A useful workflow needs the right statements, the agency records to compare them with, and instructions for what your accounting team wants to review.
Bring the statements and records
Identify the carrier statements, accounting period, and agency records used for the comparison. Agree on the information the workflow needs to match a payment to the right policy.
Pull out the items to investigate
Match statement entries to the agency’s records and bring missing, short, or unmatched payments into the review. Keep the relevant payment and account details with the work.
Let accounting review the differences
Have your team check the prepared work and decide which items need clarification or carrier follow up. Set out who owns that next step in your agency’s process.
An exception needs an explanation.
A flagged payment is a starting point for investigation. Accounting needs the statement and the agency record to understand the difference before deciding whether to contact the carrier or update its records.
For example, your team may be looking for a payment expected on the agency’s records that has not been matched to the statement. The useful next step is to check that item with its supporting information, rather than repeat the whole matching exercise.
- Are the statements and agency records for the intended period?
- Can accounting identify the policy and payment behind each exception?
- Which differences need further investigation?
- Who handles the carrier follow up and records the outcome?
Walk us through one reconciliation cycle.
Start with a carrier and a statement your accounting team understands. Show us which records it compares, where matching takes time, and what the team needs to see before it can investigate a difference.
ThreadWise works alongside your agency’s existing systems. We agree on the available records, tools, and review steps for the workflow. Use fictional or appropriately redacted examples for an initial discussion.
Questions about this workflow
Does this replace our accounting system or AMS?
ThreadWise works alongside your agency’s systems. This workflow helps with matching and review; your existing systems remain part of the accounting process.
Does a flagged item mean the carrier owes us money?
A missing, short, or unmatched payment needs investigation. Your accounting team checks the statement and agency records before deciding what the difference means and whether to follow up.
Is this producer commission tracking and payroll software?
The workflow described here compares carrier commission statements with agency records. Producer splits, payroll, and accounting entries are separate requirements to discuss; they are not part of the scope described on this page.