EQP! will reconcile agency bill, broker, and other account current statements to the items in your management system. We will enter the disbursement and notify agency when ready. In addition, we will reconcile the payable balance on your balance sheet to the items due to the carriers.
EQP! will record, import, or process commissions in suspense for your direct bill transactions and reconcile to income and cash received. Based on the distributions of your income we will make sure the corresponding income accounts reflect the income received from the carriers. In addition we will issue disbursements for return commissions due to carriers.
During the Month End process EQP! will run producer reports for your review. Once approved we will issue disbursements.
EQP! will enter disbursements for your vendor payables. Any items meeting your agency’s capital improvement dollar level will be copied to your CPA for depreciation and amortization.
EQP! will make corresponding entries into your management system, generated from payroll reports provided.
With access to your deposit details or deposits imaged in, we will apply payments within your management system.
EQP! will initiate or change your default month. Reconcile bank statements for the cash accounts on your balance sheet, post, and provide the following standard reports: Aged Accounts Receivable, Income Statement (Profit/Loss), Status of Accounts (General Ledger), and Trial Balance.
EQP! works with your CPA to help make your year end process smooth. EQP! also assists with 1099’s by taking the data from your management system and creating a list of vendors for 1099 processing.