Line Items As Collected report

  • Understand the collection status of invoices by line item amount. 
  • Report to relevant stakeholders on an as-needed basis (such as tax authorities or insurance carriers).

Applies to:

  • Program Administrators
  • MGA Management
  • MGA Accounting

This article explains how to run a report which displays all invoices and their collection status by line item. The report can be filtered by the accounting posting date of the transaction. 

MGA management teams can use this report to:

  • assess the gross profit of their book of business by program, marketing company and carrier 
  • show what is outstanding in terms of items yet to be collected for the program 
  • fulfill reporting requirements to third party stakeholders, for example fronting carriers or reinsurers 
  • This report is typically accessed on a monthly cadence for reporting purposes and for a review of outstanding items. 
  1. The report is created by going to the Accounting tab in BindHQ, selecting “Reports”, selecting “Receivables” and then clicking on the “Line Items As Collected” report. 

2.  The report can be further filtered by carrier, marketing company, and program. It can also be downloaded in CSV format by clicking on “Download CSV” at the top right corner of the screen. 

The Line Items As Collected Report contains the following columns:

  • Transaction Date

The date of the transaction (including policy issuance, midterm endorsements, and cancellations)

    • Insured

    The name of the insured

    • Retail Agency

    The name of the retail agency

    • Policy #

    The policy number

    • Invoice #

    The invoice number

    • Invoice Due Date

    The due date of the invoice

    • Transaction Type

    The type of transaction (e.g. adding an Additional Insured, other endorsements, or processing a policy cancellation) 

    • Transaction Effective Date

    The effective date of the transaction 

    • Accounting Posting Date

    The posting date of the transaction by accounting 

    • Policy Expiration Date

    The expiration date of the policy 

    • Policy Effective Date

    The effective date of the policy 

    • Carrier

    The carrier of the policy

    • Marketing Company

    The marketing company for the policy 

    • Total Amount Billed or Refunded

    The total amount billed or refunded for this transaction

    • MGA Net Revenue

    The net revenue for the MGA from this transaction

    • Gross Premium

    The gross premium related to the transaction

    • Net Premium

    The net premium related to the transaction (after any commissions) 

    • Surcharge/Discount (Credit or Debit) Percentage

    The percentage by which the premium will be increased or decreased with the transaction 

    • Minimum Earned Premium Percentage

    The percentage of Minimum Earned Premium for the policy 

    • Minimum Earned Premium 

    The numerical calculation of Minimum Earned Premium for the policy 

    • Total Commission Percentage

    The total commission percentage for the policy 

    • Total Commission 

    The numerical calculation of the total commission for the policy 

    • Program Management and Technology Fee Percentage

    The percentage of the policy which is assigned to the Program Management and Technology fee 

    • Program Management Technology Fee 

    The numerical calculation of the Program Management and Technology fee

    • MGA Commission Percentage

    The MGA Commission percentage

    • MGA Commission 

    The numerical calculation of the MGA commission 

    • Retail Agency Commission Percentage

    The retail agency commission percentage 

    • Retail Agency Commission 

    The numerical calculation of the commission for the retail agency

    • MGA Fee 

    The MGA fee

    • Inspection Fee 

    The inspection fee

    • Total MGA Fees 

    The total calculation for the MGA fees 

    • Agent Fee 

    The agent fee (if applicable)

    • Carrier Fee 

    The carrier fee (if applicable) 

    • Carrier Inspection Fee 

    The carrier inspection fee (if different from the Inspection Fee)

    • Risk Management Fee 

    The risk management fee (if applicable) 

    • Other 

    Additional fees not captured by the other categories above 

    • Will Comply Fee 

    The will comply fee (if applicable) 

    • Surplus Lines Tax 

    The surplus lines tax for the policy 

    • Stamping Fee 

    The stamping fee assessed for the policy 

    • Clearing House

    Any clearing house fees for the policy (if applicable) 

    • EMPA 

    Another fee on the policy (if applicable) 

    • Fire Marshall Tax

    The fire marshall tax in those locations where this factor applies 

    • Healthy Homes 

    A state-specific surcharge for homeowners on a policy

    • WInd Pool Fee 

    The wind pool fee in those locations where this factor applies 

    • Total Taxes 

    The total taxes assessed for the policy 

    • Other Billed 

    This field captures all other billed amounts if they were not previously captured in the remaining fields in the report 

    • Total Amount Collected 

    The total amount collected for the policy 

    • Premium Collected 

    The total premium collected for the policy 

    • Program Management and Technology Fee Collected

    The Program Management and Technology fee collected for the policy 

    • MGA Commission Collected 

    The total MGA commission collected for the policy