Tracking Paid vs Outstanding Invoices

Tracking Paid vs Outstanding Invoices
Monitoring paid versus outstanding invoices in Momentum AMS ensures timely collections, accurate financial reporting, and proactive customer communication. By regularly reviewing invoice statuses, agencies can identify overdue accounts, confirm payments have been applied correctly, and maintain healthy cash flow.

1️⃣ Access the Invoices/Receipts List

You can track invoices from two locations in Momentum AMS:

Insured or Policy-Level View

Navigate to the insured’s Documents tab and select Invoices/Receipts.
This view displays invoices for that specific insured or policy only.
Columns include:
- Number – Invoice reference number.
- Due Date – Date payment is expected.
- Due – Original invoice amount.
- Received – Payments applied so far.
- Balance – Remaining amount owed (positive = unpaid, negative = credit owed to insured, zero = paid in full).
- First Sent – Date the invoice was first sent to the insured.
- Description – Reason for the invoice (e.g., “Premium Due,” “Down Payment”).
- Agent, Carrier, Policies, Tags – Transaction and classification details.
The Credit Payments List directly below the invoice list shows any negative balances (credits) owed to the insured.

Agency-Wide View

Go to Miscellaneous → Accounting Items → Invoices/Receipts.
This view aggregates all invoices across the agency.
Apply the Show Only with Positive Balance filter to quickly find unpaid or partially paid invoices.
Columns match the insured-level view but also allow you to sort/filter across all insureds and policies.
Click any invoice number to see its full payment history, send reminders, or apply a payment.

2️⃣ Review Invoice Status

In the Invoices/Receipts List, a colored dot appears to the left of the Actions menu to quickly identify payment status:

Green Dot – Fully Paid – Full payment applied; balance is $0.
Orange Dot – Partially Paid or Credit – Payment applied but a balance remains, or the invoice is a negative credit (money owed to the insured).
Red Dot – Voided – Invoice has been voided and is no longer active.
No Dot – Not Paid – No payment applied; full balance remains.

3️⃣ Identify Outstanding Invoices

Filter for Balance > $0 to find unpaid or partially paid invoices.
Sort by Due Date to prioritize follow-up on the oldest outstanding items.
For an aging view, use the Aging Receivables Report in Interactive Reports to group invoices by 0–30, 31–60, and 61+ days overdue.

4️⃣ Verify Paid Invoices

Confirm applied payments match the invoice amount.
Cross-check payment dates, methods, and amounts with bank deposits or integrated payment provider reports.
For overpayments, refer to Refunds and Adjustments to create a credit and issue a refund.

5️⃣ Take Action on Outstanding Balances

Send payment reminders or statements directly from the invoice screen or via the client portal.
If using an integrated payment provider, include a payment link in emails.
Apply late fees if permitted by agency policy.
Document all communication attempts in the insured’s Notes tab, tagging appropriately (e.g., Receivables – Reminder Sent).

Best Practices

Review outstanding invoices weekly to prevent long-term delinquency.
Use tags and reminders to track follow-up on unpaid accounts.
For large or overdue balances, consider offering a payment arrangement and document the agreement in AMS.
Always reconcile invoice payments against accounting reports to maintain accuracy.