Booking

Overview

A booking entry is the financial record for a policy transaction. It captures the full premium breakdown — base premium, taxes, fees, and commission — and serves as the source record for invoicing and general ledger posting.

Loading diagram...

How Booking Entries Are Created

Booking entries are generated automatically when a payment is recorded. You do not need to create them manually. The system calculates the breakdown based on the policy’s premium, state, and commission structure.

📷

Booking entry detail screen showing premium line items, taxes, commission retained, commission paid, and net due

Booking entry detail screen showing premium line items, taxes, commission retained, commission paid, and net due

Booking Entry Details

Each booking entry shows:

Line Item	Description
Base Premium	Core premium before taxes and fees
State Tax	Surplus lines tax for the policy state
Stamping Fee	State stamping office fee (where applicable)
City Tax	Municipal tax (certain locations)
Guarantee Fund Surcharge	Used for FL and NJ policies
Commission Retained	Amount kept by the agency
Commission Paid	Amount paid to the producer
Net Due	Total owed to the carrier

Note

For Florida and New Jersey policies, state tax is labeled Guarantee Fund Surcharge in both the booking entry and on invoices.

Booking Stages

Stage	What it means
Initial	Booking entry created, not yet batched
Invoiced	Invoice has been generated for this booking
Paid	Payment has been settled with the producer or carrier
Completed	Fully processed and posted

Batch Management

Group multiple booking entries into a batch for producer invoicing and general ledger posting.

📷

Batch creation screen showing a list of booking entries with checkboxes, batch name field, and Create Batch button

Batch creation screen showing a list of booking entries with checkboxes, batch name field, and Create Batch button

1. Navigate to Accounting > Booking Batches.
2. Select the booking entries you want to include.
3. Enter a batch name and date.
4. Click Create Batch.
5. Review the batch summary.
6. Click Close Batch to finalize and post to the general ledger.

Tip

Create batches by producer or by date range to make it easier to match payments and commissions during reconciliation.

Editing a Booking Entry

If a booking entry has an error (for example, an incorrect premium amount), correct it before closing the batch:

1. Open the booking entry from the Booking smart table.
2. Click Edit.
3. Correct the relevant fields.
4. Click Save.

Booking entries in Completed status cannot be edited. Contact your bookkeeping team if a correction is needed after a batch is closed.