Importing and Matching Commission Statements

Steps

Step 1: Access the Import Tool

1. Go to Miscellaneous → Accounting Items → Reconciliations.

2. From the dropdown menu, select Import from File.

Step 2: Prepare the Statement File

You can obtain or create the CSV file in one of three ways:

1. Carrier/MGA Provided CSV

   • Download the commission statement directly from the carrier or MGA in CSV or Excel format.

2. PDF Statements via Momentum AI

   • If your statement is in PDF format with no CSV provided:

     • Open Momentum AI or go to the Toolbox.

     • Use the AI PDF-to-CSV conversion tool to generate a CSV file from the statement.

     • Important: Verify all policy numbers and amounts before import to prevent incorrect data entry.

3. Manually Created CSV

   • Build your own CSV in Excel using the carrier statement as a reference.

   • It does not matter what additional fields are in the CSV — you will only map what is required.

Step 3: Import and Map Fields

1. Click Choose File and upload your CSV.

2. Map only the following fields:

   • Policy Number

   • Effective Date of Endorsement

   • Commission Amount

   • Payment Date (can be manually entered during mapping)

3. For any other columns in your CSV that you are not mapping, select the top blank option in the dropdown.

   • Once selected, Momentum AMS will automatically change it to "I don’t have it" in the mapping preview.

4. Do NOT map:

   • Premium, unless it was not previously in the system. Mapping premium unnecessarily will create a new endorsement and double the policy premium.

5. Important: Do not have commission rules set up for carriers you are importing via CSV. If rules are active, the system will enter double commission amounts.

6. Once the import preview is displayed, review it carefully to confirm the data is correct.

7. Click Import XX Objects (where XX is the number of transactions in your list) to complete the import.

8. Be sure to uncheck "Ignore Duplicates" when importing commission statements.

   • In commission imports, there may be multiple entries for the same policy in a statement.

   • Leaving the box checked would cause the system to only import one of them.

   • Note: The “Ignore Duplicates” setting has different uses depending on the type of import. For commissions, we want the duplicates included.

Step 4: Match Transactions

• For CSV commission statement imports, the system matches each entry to a policy in Momentum AMS based on the policy number only.

• If there is no exact policy number match, that item will not be imported.

• If needed, you can manually correct the policy number in your CSV file or in Momentum AMS to ensure a match.

• It is strongly recommended to make sure your policy number format and naming convention in the AMS matches exactly with how it appears on the carrier/MGA statement before importing.

Step 5: Approve the Statement

1. Review all matched transactions for accuracy.

2. Approve the statement to finalize reconciliation.

3. Once approved, the statement will appear in Miscellaneous → Accounting Items → Agency Statements with the format:

   • Data Import: DB_Data_Import_DATE AND TIME

Best Practices

• Only map the necessary four fields to avoid duplication and data errors.

• For unused fields, always choose the top blank option — the system will automatically display "I don’t have it" after selection.

• Always uncheck Ignore Duplicates when importing commission statements.

• Use the AI PDF-to-CSV tool for PDF statements, but double-check accuracy before import.

• Keep commission rules disabled for carriers where you are importing via CSV to prevent double entries.

• Verify the import preview carefully before finalizing.

• Reconcile imported statements promptly to prevent backlog.