How to Sync Transactions from Momentum AMS to Quickbooks

Best Practice: Always confirm that billing details are complete and correct in Momentum AMS before exporting transactions to QuickBooks.

1️⃣ Log Into Momentum AMS

• Sign in with your agency credentials.

• Ensure you have access to the policy or policies you want to sync.

2️⃣ Navigate to a Policy

• Open the policy you wish to work with.

• Confirm the premium has been entered.

• Do not finalize the billing breakdown yet.

3️⃣ Enter Billing Details

• Add all billing items for the policy, such as:

  • Broker Fee.

  • Surplus Lines Tax.

  • Agency Fee.

  • Managing General Agent Fee.

  • Policy Fee or Inspection Fee (if applicable).

• Enter dollar amounts for each item.

• Select whether each item is fully earned or not.

4️⃣ Generate Transactions

• Click Generate Transactions.

• The system creates accounting entries for:

  • Accounts Receivable.

  • Accounts Payable.

  • Agency Revenue.

  • Commissions.

  • Taxes and Fees.

5️⃣ Review Billing Structure

• Decide how the policy is being paid:

  • Premium Financing: Down payment recorded as receivable, remainder as financed.

  • Agency Bill Paid in Full: Full premium recorded as receivable, total payable to carrier or Managing General Agent.

• After confirmation, create invoice and payment entries.

6️⃣ Open QuickBooks Mode

• From the policy screen, switch to QuickBooks Mode.

• Review all transactions available for export.

• Legend shows:

  • Green checkmarks for valid mapping.

  • Exported items will display a QuickBooks journal entry ID.

7️⃣ Export to QuickBooks

• Select items to export:

  • A single transaction.

  • Multiple transactions.

  • All available transactions.

• Choose Option 5 for natural journal entry format (recommended).

• Choose Option 6 for accrual-based agencies preferring entry date over effective date.

• Click Export to sync transactions with QuickBooks.

8️⃣ Review Journal Entries in QuickBooks

• Open QuickBooks.

• Use the magnifying glass search to locate exported journal entries.

• You’ll see:

  • Debits to Accounts Receivable.

  • Credits to Accounts Payable.

  • Agency commissions and income.

  • Producer commissions.

  • Financing offsets (if applicable).

• Each entry ties to a policy with full financial detail.

9️⃣ Record Additional Payments

• In Momentum AMS, record:

  • Client Payment: Apply down payment or full premium with Take Payment.

  • Carrier/Managing General Agent Payment: Issue outbound payment reflecting amount due.

  • Producer Payment: Record commission payments to agents/producers.

• Each creates additional journal entries for export.

? Revisit QuickBooks Mode

• Return to QuickBooks Mode in the policy.

• Newly created entries will appear.

• Export them using the same process.

• Momentum identifies which entries were already exported.

1️⃣1️⃣ Bulk Export (Optional)

• Navigate to Miscellaneous Accounting Items → QuickBooks Sync.

• Filter policies by:

  • Effective Date.

  • Client.

  • Line of Business.

  • Managing General Agent.

  • Financing setup.

• Select desired policies and export in bulk.

Best Practice: Limit bulk exports to ~20 policies at a time to avoid timeouts.

Important Notes

• Once transactions are exported, they cannot be edited in Momentum unless mapping is cleared.

• Clearing mapping does not delete journal entries in QuickBooks—you must delete them manually before re-exporting to avoid duplication.

Conclusion

By following these steps, agencies can ensure accurate synchronization between Momentum AMS and QuickBooks. Proper syncing reduces manual work, prevents duplication, and provides clear financial oversight.