Accounting Soup-2-NutsSM
Get Real-Time Financial Data at Your Fingertips
helping you make better decisions. Learn how to complete common daily tasks quickly and efficiently. Learn common errors, how to fix them, and better yet, how to avoid them. With accurate and timely data, you'll be able to make better business decisions.
Who should attend:
Great for new bookkeepers, agencies just starting to use the accounting function, agencies who have some “clean up” to do on their books, and those who are ready to go to the next level.
What You Will Learn
Accounting Soup-2-Nuts, Part 1:
InStar Insurance Accounting - 1 day
Learn how to complete your insurance accounting so that you always know who owes you and what you owe the companies (and producers). This 4 session class focuses on the insurance side of accounting, including*:
Sessions include:
#1 Clients Accounts Receivable, Agency Billed (AB): Learn the invoicing basics for standard AB policies and their impact on the ledgers; basic customer Cash Receipts and allocation. See how these invoices drive the powerful A/R Client Ledger, Company A/P and Producer A/P, and Trust Accounting in AMS/InStar.
#2 Insurance Accounts Payable: Learn how to pay your companies (Company Ledger, A/P), paying 1099 producers (Producer Ledger, A/P), and track your agency trust position (Commission Transfer ). Included common agency scenarios.#3 Cash Receipts, Deposits and Cash In-Out: Learn how to enter cash receipts properly for agency billed items, for direct billed items and for direct bill commission payments so that they post to the proper ledgers. Learn how to complete deposits into the bank and EFTs into the bank. Learn how to track Cash In/Out from reach receipt, creating checks to companies or entering EFT "sweeps" so that you always know the money collected went to the carrier.
#4 Direct Billed (DB) Options: Learn how to track your direct bill commissions, including each of the DB invoicing options (Global DB posting, Download posting, or manual posting), DB reconciliation basics), advances on DB policies, DB payments (Direct Bill Cash In/Out) and paying the company (paid by check or company sweep/EFT).* Topics vary slightly based on the participants of the class.
Accounting Soup-2-Nuts, Part 2
InStar Accounting Essentials - 1 day
Go beyond the insurance side of the accounting and learn how to complete your general accounting functions quickly and accurately with AMS/InStar accounting. This 4 session class focuses on completing general accounting, including*:
Sessions include:
#5A Refunds, Advances: Learn how to complete refunds on agency billed items, track advances to customers on direct bill payments.
#5B Vendor Payables and Journal Entries: Learn how to enter vendors and track payments by vendor. Learn how to create and batch print checks and journal entries. Learn how to create check and journal entry templates.
#6 End of Period, Reconciliation and What to do When for Accounting: Learn some of the basic tasks that you should complete on a regular basis (daily, weekly and monthly), including key reconciliation not covered in previous sessions and how to perform end of period processing, including Bank Reconciliation.
#7 Common Errors and How to Fix them with Special Situations: Learn common errors made in InStar accounting, how to avoid them and how to fix them. Session includes fixing common invoicing errors, accounting differences for companies and producers and Cash In/Out errors. May also include special situations, such as paying W-2 producers on a cash basis.
#8 Setup for Success, Reporting Overview and Q&A: Receive an overview of key setup topics and several examples of reports commonly run by agencies. Session includes Chart of Accounts Overview, running Customer Statements, basic customizable reports and more.
Pre-requisite for Accounting Soup-2-Nuts Part II is Accounting Soup-2-Nuts Part I, or equivalent knowledge.
Course Information
Who should attend:
Great for new bookkeepers, agencies just starting to use the accounting function, agencies who have some “clean up” to do on their books, and those who are ready to go to the next level.
- Live Online Public: Once the minimum number of agencies have registered, we schedule the live online classes with the registrants at times most convenient for them. Register
- Live Online Custom: Call to schedule a professional trainer to custom an online class for your organization. Call 877.772.4677 x2.
- Live On Site: Call to schedule a professional trainer come to your office to work train your entire staff. Call 877.772.4677 x2.
- Recorded, On-Demand: Coming soon ... On-demand sessions are available at any time, for agencies that do not want to wait for the next live class. You will receive a link to the recorded sessions the next business day after registration.
Each session is at least 1.5 - 2 hours long.
Sessions are combined into classes, called Parts. (Part 1, Part 2) For best results, sessions are typically conducted in either 1/2 day or 1.5 - 2 hours sessions.
To best serve participants, we adapt to the needs of the participants. The topics included and the time to complete each topic may vary based on the participants' prerequisite knowledge, needs, questions and learning styles.
Unless otherwise stated, we do our best to mix personal and commercial lines examples in each session. However, based on the class, different examples may be used. If you are interested in a personal lines only or commercial lines only session, please contact us for customized training.
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* Workflow documentation is NOT included in this class, but is available as part of the Quick-Step
Best-Practices Workflows.
What Others Say
"These classes are wonderful. Worth every penny!"
Dottie Burger, Gracey-Backer Insurance
"You've been so helpful. I'm not an accounting person, but thanks to you I'm really understanding how our accounting works. Thank you for helping us get back into balance. I don't know what we would have done without your help and guidance."
Erick Johnson, Johnson & Sons Insurance
Next Steps
Special Topics and Reporting: Other sessions or custom training are available which go into detail on topics either only mentioned at a high level or not included above, such as how to enter Beginning Balance, Main System (Cash vs. Accrual, Download posting invoices), setup Agencies and Departments, setup for accurate reporting (Company Codes, Producer Codes, Line of Business and Plan codes), Chart of Accounts Setup, InStar management reports, InStar accounting reports, exporting reports to excel, real estate producer payments, producer advances, setting up your system for rapid reports, customizing your Chart of Accounts for customized financial reporting, 1099's, determining cash flow needs, more sub ledger reconciliation errors and resolutions, setup and payment of taxes and fees, and special agency specific situations.
For example, you may also be interested in are webinars for specialty topics not covered in this class, such as: "Customizing your coding to get your E&O application data in about 1 hour"; "Customizing your financial statements"; "Exporting Reports to Excel"; "Getting and Staying in Balance (Troubleshooting)"; "Common Mistakes and How to Correct Them"; "Starting or Restarting Your Accounting" and more. See the schedule for details.
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We also provide customized training for your agency. Ask us how. Contact
