When agents incorporate, the company has to track income separately for the agent as an individual and a corporation. After the incorporation date, checks are paid to the corporation. Checks paid before the incorporation are paid to the individual and the individual’s 1099 income must be tracked separate from the corporation income.

To help and eliminate the need of adding a second agent record in BOS,  items have been added to the agent screen:

• ·    Agent Incorporation Date – the start date that commission checks and income are to be paid to the corporation.

• ·    Agent Corp Fed ID

• ·    The Agent’s corporate name for checks

To help view the current status of an agent’s account, the balance detail has been expanded from the former single display of “current balance”. The items displayed are:

• ·    Balance Forward: the balance from the last posted invoice – usually last month’s.

• ·    Payments Received: the total the agents have paid in since the last invoice to pay down the balance forward.

• ·    Check Deductions: the total deducted from agent commission checks to pay down the account balance.

• ·    Pending Deductions: the total check deductions that are within a pending checks batch that has not been processed.

• ·    Adjusted Balance Forward: the balance forward from the previous invoice less the payments and check deductions taken and pending.

• ·    Current Charges: the sum of all new items that have been entered for the agent and not yet invoiced.

• ·    Current Balance: the sum of the Adjusted Balance Forward and the Current Charges.

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