*** Accounts with red note should always carry a $0 balance.***

  • Payables – the default installation of EZLynx Accounting has five payable accounts for the different types of payees you might use. You can modify these as desired by removing accounts you don’t use, or combining them into a single payable account if you don’t need to keep them separated. The default accounts are
    • Company Payables – used for payables to insurance companies
    • Internal Producer Payables – used for producer commissions payables from agency or direct bill sources (i.e. an invoice or commission statement)
    • Tax Payables – used for payables to a tax authority
    • Third Party Payables – used for payments to external parties such as vendors or external producers
    • Interbranch Payables – used when your agency has multiple branches and you wish to create interbranch transactions between them
  • Internal Commission Expense – the commission expense on direct bill or agency bill commission for the agency’s producers. This expense offsets the agency’s income.
  • External Commission Expense – the commission expense on direct bill or agency bill commission for the external producers (i.e., not agency staff). This expense offsets the agency’s income.
  • Direct Bill Payment Collected – a payable account for direct bill money collected by the agency and due to the carrier. The Add Direct Bill Payment, or DB Cash Payment action on receipts, posts to this account, The balance is cleared with the DB Disbursement action on checks.
  • Direct Bill Receivable – this is a required account used to clear the receivable when a direct bill statement is applied to a receipt. ***This account should always carry a $0 balance.***
  • Income – the income account for agency commissions, fees, etc. Many agencies split this into separate income accounts for agency bill, direct bill, and various fees.
  • Notes Clearing – used for clearing balances on financed agency bill invoices where the finance company will be paying the agency.
  • Unapplied Cash – used when any receipt is entered in the system. The unapplied balance is cleared when the receipt is applied to an agency bill invoice, a direct bill commission statement, a direct bill payment, or other actions. ***This account should always carry a $0 balance.***
  • Undeposited Funds – used for cash or check receipts that have not yet been deposited in the bank. This is sometimes called “cash in hand.” ***This account should always carry a $0 balance.***
  • Write-Off – used for receivable or payable amounts written off.