Recommend software for insurance agent


B

BigDave

Hello, I'm in the IT business, and am hoping to help out a client.
He's an insurance agent, whose primary need is to do cash flow
projections (to help him decide how much money he can take out of his
business and still meet upcoming operating expenses).

He has scheduled monthly commissions from various insurance companies,
but the actuals can differ based on what/when the client pays.

I looking into QuickBooks for this, which may be workable, but it will
be clumsy, because (for example) its cash flow forecast report is based
on individual invoices, not estimated monthly commissions.

Does anyone know of a solid accounting package which is somewhat
tailored for insurance agents and/or investment brokers? Any opions
are appreciated. Thanks.
 
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J

Joe Canuck

BigDave said:
Hello, I'm in the IT business, and am hoping to help out a client.
He's an insurance agent, whose primary need is to do cash flow
projections (to help him decide how much money he can take out of his
business and still meet upcoming operating expenses).

He has scheduled monthly commissions from various insurance companies,
but the actuals can differ based on what/when the client pays.

I looking into QuickBooks for this, which may be workable, but it will
be clumsy, because (for example) its cash flow forecast report is based
on individual invoices, not estimated monthly commissions.

Does anyone know of a solid accounting package which is somewhat
tailored for insurance agents and/or investment brokers? Any opions
are appreciated. Thanks.
I doubt such a package exists as the effort to create it to focus on
such a narrow group would far outweigh the profit potential.
 
A

Arnold

Dave,

I might suggest you download a free-trial copy of A-Systems Visual
Bookkeeper from the website: http://www.a-systems.net/freetrialvb.htm

When you get the download, you can login to either The Small Business
Advantage Edition or the Preferred Edition. Both Editions have a
Projections/Modeling function under the General Ledger icon. If you
need instructions on how to run this relatively intuitive process, go to
the website training:

http://www.a-systems.net/training_vb.htm
Go to the General Ledger heading and choose Projections/Modeling.

At the request of one of our marketing partners, we created this
powerful function to allow a user to do "what if" forecasting and
modeling. The process allows the user to start "from scratch" or to do
"from where we are now" forecasting. This function sounds like what you
are looking for.

In creating a forecast, the user can forecast income, line by line,
month by month for 36 months. Similarly, the user can forecast
expenses, line by line, month by month for 36 months. After all of the
forecasted items are entered, Visual Bookkeeper will create a monthly
forecast of cash flow, reconciling starting and ending cash, for each of
36 months and a monthly income statement for each of 36 months. In
addition, Visual Bookkeeper will create pro forma balance sheets at 12,
24, and 36 months, all tied back (reconciled) to the cash flow statement
and the income statement.

This is a very powerful, but easy to use function. It is built into
A-Systems Visual Bookkeeper (our general accounting software) and it is
built into A-Systems JobView (our job cost accounting software.) Both
programs are full-featured, fully-integrated, accounting programs.
Visual Bookkeeper includes General Ledger, Payroll, Accounts Payable,
Accounts Receivable, a Report Generator, a fully integrated Contact
Manager, Forecasting/Modeling, Automated Bank Reconciliation, etc. For
companies with additional needs, add-ons include Inventory, Purchase
Orders, Job Costing, and more.

In order to make this available to small businesses that often cannot
afford full-featured accounting software, A-Systems worked with the
United States Small Business Administration (the SBA for short). The
Small Business Advantage (SBA for short) retails for $79.95. The
Preferred Edition of Visual Bookkeeper had a base price of $995. Unlike
some accounting software companies, the Payroll tax tables are user
definable and may be updated for free when tax tables change. One more
thing, Visual Bookkeeper has a bullet-proof audit trail. Source
documents, one posted, cannot be altered. Changes and corrections
require journal entries to correct errors and make changes. The audit
trail cannot be turned off.

At A-Systems, we compete with the biggest software companies in the
nation by providing accounting software that does more, does it easier,
and we charge less. Our software is quick to learn and easy to use too.

Please let me know if this meets your needs.

Thanks,

Arnold
 
B

BigDave

Thanks for the responses. Arnold, does your package accomodate the
tracking of income in the form of recurring commissions?
 
A

Arnold

Dave,

I'm not sure what that means exactly. Could you describe what you are
trying to accomplish in greater detail?

Thanks,

Arnold
 
B

BigDave

Sure. It's pretty simple. QuickBooks' cash flow projector shows
upcoming income based only on invoices. We don't want to create a
"dummy" invoice to represent each monthly insurance commission - we'd
rather specify, for example, that we expect a $200 commission every
month this year for a given customer, and have that reflected in the
cash flow projection.

Dave
 
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P

Paul Thomas, CPA

BigDave said:
Sure. It's pretty simple. QuickBooks' cash flow projector shows
upcoming income based only on invoices. We don't want to create a
"dummy" invoice to represent each monthly insurance commission - we'd
rather specify, for example, that we expect a $200 commission every
month this year for a given customer, and have that reflected in the
cash flow projection.


You can work that through QB in the budgeting function.
 

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