WHO IT IS FOR
Explain both sides of the wholesale balance.
For an MGA or wholesale broker, an agency-bill review begins in two places: the retailer-facing balance and the carrier-facing obligation. Follow the invoice, receipt, commission, and payment references connecting them, with a clear account of what remains open on each side.
One placement, two counterparties
| Side of the review | Balance | Supporting question |
|---|---|---|
| Retailer receivable | $10,000 | What invoice and credit detail support it? |
| Retailer receipt | $6,000 | Where was the partial payment applied? |
| Remaining retailer balance | $4,000 | Which items remain open? |
| Carrier obligation | $8,500 | What statement and prior payments apply? |
Trace the $4,000 retailer balance to the remaining invoice items. Trace the $8,500 carrier obligation to the carrier statement, agreed terms, and prior remittances. Keep the counterparty visible alongside the policy and transaction reference so a question has a clear destination.
Start with the carrier statement and work outward
EvenPenny matches agency-bill carrier statement lines to AMS360 transactions, brings differences into an exception view, and prepares a remittance from the verified list. Your agency resolves exceptions, approves the amounts, and sends the payment. Bring a placement with a partial retailer receipt or a credit to your first discussion.
Runs on exports from Vertafore AMS360. Its general ledger, transaction, and activity exports form the starting records. EvenPenny reads 12 carrier statement formats across PDF, Excel, and CSV, including scanned PDFs read by OCR. New carrier formats are added during onboarding.
Bring enough detail to follow both balances
- Retailer invoices and credits with the retailer and placement references intact.
- Receipt allocations and any remaining open items at the statement cutoff.
- Carrier statements and prior remittance detail for that same period.
- The fields distinguishing gross premium, net payable, commission, fees, and taxes.
For an unresolved retailer question or remittance hold, retain the next action, responsible person, and follow-up date in your review routine. That gives the next weekly update a specific item to report.
Common questions
- Where should a retailer credit appear in the review?
- Keep it attached to the retailer account and originating transaction, then trace any corresponding carrier adjustment through the carrier’s account.
- What makes a useful first placement?
- Choose one agency-bill placement with a partial receipt, credit, or familiar remittance question. Bring records for both counterparties.
- How should we organize a carrier question?
- Include the statement period, policy and transaction references, amount in question, and relevant prior payment or credit. Give the item a next step and an owner.