Sample Report "Hot Items"
Below is an example of the "Hot Item" list that we at In-Trust Accounting provide to you and your agency on a monthly basis.  The report is an analysis of the balancing of the account.  Any items of concern are listed, including double sweeps, over and under sweeps, missing receipts that were swept, as well as a tracking of outstanding NSF's.  We also provide you with a list of receipts that have yet to be swept from the account.  In many instances these non swept receipts could be equated to unpaid commissions to you, if your contract is paid on premiums collected.
Number One Insurance Agency                                                                                                      Outstanding Miscellaneous Items                                                                                                                    June 30, 2004                                                                                                                                                                                                                  Past Months Outstanding Items                                    Date       Company                     Insured & Notes                                                                Amount                                                     12-May-04        Orion        Swept for Troy Gallaten(?) - check #14026 also sent and cashed same amount              $50.01                                                               (Being refunded by Orion in July )                                                14-May-04          AIG          Swept for Martin Jones - Visa payment also sent to company (double sweep)                $271.20                                                                (AIG to send refund check, check sent June 30, will be deposited)                                                                                                        New Items for this Month                             14-Jun-04        Unitrin        Swept for Bobrovni #FCFIPP3032794- no receipt issued                                                    $143.00 25-Jun-04     Workmens   Double Sweep for Michael Johnson - one receipt, two sweeps                                         $267.00 27-Jun-04        GMAC         Overswept for Marty Matsen #46639725 - receipted 69.00, swept 96.00                            $27.00                                                                                                        Outstanding NSF Checks                                                                                     9-Jun-04        NSF                        NSF Check for Owen Staggard                                                                                           $93.00                                                                                                                                                                                                                                   Total Outstanding Misc. Items                   $1,319.21                                                     Please research these items and provide explanations for each item so that I can clear them off the list and/or keep an eye out for refunds that may be due.  Thanks.                                                                                                                     Outstanding Items to be Swept - Over 45days                                                                         Date        Receipt #           Name                Pmt Method        Company    Policy Number  Amount 24-Mar-04      639310            Wesley Insbruck                Cash                             Orion                                                 $285.22 6-May-04      639110            Shawna Hill                        Cash                          Dairyland                                               $204.00 21-May-04      639181            Tina Toyota                         Cash                               FIC                                                     $93.34 23-May-04      639196            John Jefffers                       Cash                         Arrowhead                                           $125.00                                                                                                            Please research these items to see why they weren't swept, or if the company shows them as swept.  Commissions could be due on items that haven't been swept.  All of these items are shown as cash payments, and should of then gone through the trust acct. The items in italics are balances on the receipt that have not been swept, previously an amount less then the  original was swept leaving this remaining balance.                                                                                                                                                                                        Current Balance in Trust account as of June 30, 2004                          $737.70                                                             Recollect all NSF checks & Misc items and the balance will be                     $2,056.91                           this number should be as close to zero as possible, or in the positive