Tabular report to be used for accounting.

 

The Trial Balance will show: 

 

• Financing type slicer (Summary and Policy Details Page).
• Employee Commissions journal entries.
• KPI tracker breakdown of Net Income - on the Summary tab.
• KPI tracker visuals - on the Policy Details tab.
• Chart of Accounts (Accounts receivable, accounts payable, etc.)
• Payments
• Payments to Carrier
• Section Totals

 

Features

• Updated: Dataset is refreshed daily at 12:30am (check the top of the report to see the 'Data last refreshed' date)
• Please note: The “Data Last Refreshed” is the cut-off date which is the month-end date for the previous month.
• Three-page report - Summary, Policy Details and Export Page.
  • Page 1 - Summary page showing various transactions, along with the debits and credits. 
  • Page 2 - Policy Details, can view the policy level details for the accounts shown.  
  • Page 3 - Export Page including instructions on how to export to an external accounting software. 

 

 

 

• Firstly, ensure you select one of two options in the Reporting Period Field.
  • Transaction date reflects the date the journal entries are created on the Nude platform.
  • Accounting date reflects the correct accounting period (see the Data Dictionary for the definition of those Dates).  

 

Click on either of these buttons to choose data for the respected date:

 

 

• Use Slicers to ensure you have the correct data included for what you require. Slicers are on the top of the report (Updated in June 2022), shown here:

 

 

 

• If you forget which criteria you used in the slicers and want to reset back to default values with different slicer values, simply refresh your browser. 

 

• Use the slicers BEFORE exporting a report as failing to do so could result in a memory expensive export dataset  which does not provide the key information you need and can take excessive time.

• There are more options at the top of the screen for you to use, including Export, if you wanted to export to a PDF, PowerPoint or Excel format.

 

Slicer - Financing Type -Updated November 2022

 

If you want to view the TB for transactions financed through Valet Finance vs your internal pay transactions use this slicer.  

 

 

 

 

Visual updated in June 2022 - Enlarged font and theme colours.

Visual shows the Revenue (represented in the visual in blue)  vs Expenses (represented in the visual in red).

 

Revenue equals the sum of the following fields:

• Commission Income
• Policy Fee Income
• NSF Fee Income
• Interest Income

 

Expenses equals the sum of the following fields:

• Bad Debt
• Employee Commission 

 

 

 

Visual summary displays the Overall Net Income (= Revenue - Expenses), like this:

 

 

 

Transactions show in this section.

• Accounts payable will confirm the Premium + Company fee, net of Commission + Company Fee (owed to the insurer).
• Provincial Tax payables display (where applicable).

 

 

 

 

View this section to see what has been received from Insureds, by month. 

 

 

 

See what payments you have already made to a carrier in the black module (Account Payable Reconciliation), this will only show once the statement is marked as paid and this report is updated MONTHLY.

You could use this to check against your statements to ensure you have paid the correct amount. (what goes in the Trust account, must go out!) 

 

 

 

 

This section will update if you utilize the Employee Commission feature available in the Nude platform(admin module). This section will be blank if you don't have it set up.

• JE: Commission Payable - Will display as journal entries are created when transactions relate to commission agreements (triggered based on the accounting date). Debit the Employee Commission Payable and Credit the Employee Commission Due.
• Reconciliation JE: Employee Commission - Will display the journal entries when/if the Employee Commission reconciliation is completed in the black module. Once the reconciliation is marked as Paid, this is the trigger to flow the information here (updated monthly, after month end).

Credit - Bank account

Debit - Employee Commission Due

 

In this example here, we can see:

• Employee Commission DUE in March is $24.10 and the corresponding journal entry has been created (an employee has been set up with commission agreements and a transaction has occurred which they will be paid for).
• Employee Commission Payable journal entry has been created to reflect the payable (an Expense).
• Reconciliation journal entry section shows no results, meaning that the reconciliation has not been completed in the black module yet.  

 

 

 

Last section of this tab of the report displays the summary totals for the Trial Balance, like this:

 

 

 

 

View this tab/page to see the granular details of the entries for the Trial Balance at a Policy level.

This page has the same sections as the Summary page, but with the opportunity to drill down by Policy Type or Policy Number, like here:

 

 

 

The Export page, includes instructions on how to export to an external accounting software.

This is typically used by brokers that want to export their Nude Solutions accounts into another BMS. 

 

 

 

To export the report to Excel:

 

• Hover the mouse anywhere over the tables/visuals that are in the report.
• The below sub menu appears when you select the elippses (…)

 

 

• Menu opens, select Export Data.
• Save as a File Format of your preference and Select Export.

 

Note: It is worth mentioning that the report has two export options.

Data with current layout will export the data to a format of what the Power BI report shows.

Summarized data will reformat the structure of the data to be in a table form.

Shown here: