Run the Trust Accounting Report

HawkSoft enables you to generate a report of all Trust Accounting transactions for an individual date or a specific date range. Each transaction included in the report represents funds to be deposited in the agency bank account. This article will help you run the Trust Accounting report.

The Trust Accounting Report does not include payments that are made directly to the Carrier.

To learn more about Trust Accounting Reports, see Accounting Reporting and Processing.

Running the Trust Accounting Report

  1. To access:

    From the Desktop: Click Accounting > Trust Accounting from the HawkSoft menu bar.

    OR

    From the HawkSoft Browser app: Click the Accounting icon in the left column of the HawkSoft start page to access.

  2. Click Search to create a custom report on transactions.

    OR

    Click Trust Accounting, and then select a report to run.

    Today - All transactions from today.

    Yesterday - All transactions from yesterday.

    To Be Exported - Transactions in HawkSoft that have not yet been exported to QuickBooks.

    QB Transfer Queue - Transactions that have been exported to QuickBooks from HawkSoft.

  3. Conditional: If you selected Search, select any number of filters to narrow the contents of your report.

    Category Filter Function
    By Date

    Date Type

    Filters by transactions based on the selected Date Type (Item Date, Creation Date, Due Date, Export Date) and Start and End dates.

    Select Range

    Select a date range from the drop-down. HawkSoft will auto-fill the Start Date and End Date based on your selection.
    Start Date

    Filters by transactions occurring on or after this date.
    End Date

    Filters by transactions occurring on or before this date.
    By Customer Data First Name

    Filters by the first name for Named Insureds or Main Contacts.
    Last Name Filters by the last name for Named Insureds or Main Contacts.
    Business Name Filters by the client's business name.
    Customer ID Filters by the client Customer ID.
    By Accounting Details Reporting Account Filters for the reporting account on the transactions. For example, you can run a report for invoices by selecting Burns & Wilcox (Or any applicable payable accounts).
    Bank Account Filters for the bank account on the transactions. This is only applicable when there is more than one account for the agency.
    Item Type Filters by transaction type.
    Include Voided Items Check this box to show transactions that have previously been voided in HawkSoft.
    By Office

    (Multi-office Agencies only)

    		Policy Office

    Filters for the office of the policy associated with the transaction.

    "All Offices" is selected by default. To see only transactions associated with a particular office, select that office from the drop-down.
    User's Office

    Filters for the office of the user who created the transaction.

    "All Offices" is selected by default. To see only transactions associated with a particular office, select that office from the drop-down.

    For agencies using User Permissions by Office, "All Offices" displays transactions from all offices that you have permissions to view accounting reports in (or the entire agency's transactions, if you have administrator access).

  4. Click Generate Report.

    The HawkSoft Trust Accounting report opens.

Working with the Trust Accounting report

Once you have run a Trust Accounting report (Today, Yesterday, or To Be Exported) or once you have run a custom report using Search, you can click on any line item to select it.

Click on the Item # to view details about that transaction.

To select a range of items, select one item, and then shift+click while selecting another item to also select all items between them.

If your user permissions prevent you from seeing all possible transactions on a Trust Accounting report, an Agency Permission Filter Applied notification is displayed to the upper right of the report. Click on this notification for more information.

You can change the sort order of the report by clicking on any of the column headers.

Click once to sort the report by the data in that column from A-Z or from smallest to largest. The column displays an up arrow to show it is sorted in Ascending order.

Click again on the same column to reverse the sort, arranging the data by the value in that column from Z-A, or from largest to smallest. The column displays a down arrow to show it is sorted in Descending order.

Click on the same column a third time to remove the custom sorting, returning the report to the default sort order.

HawkSoft enables you to Summarize your report to quickly narrow down your results. You can also Summarize on the resulting sub-reports as many times as needed to get the specific report you are looking for.

  1. Click Σ Summarize.

    The Summarize Report dialog opens.

  2. Click the Select Column drop-down, and then select the desired column.

    Some columns have additional summary options. For example, the invoiced column can optionally be grouped into value ranges, while dates can be grouped by month.

  3. Click Summarize.

    The summary sorts all items in the report by the selected column, and groups all items with the same value in that column into a single row.

    Example: When a report is summarized by 'Last Name', the summary displays all last names present in the report, and groups all clients with the same last name into the same line.

  4. Click on the name of any item to see a sub-report of all the entries that contain that row's value.

Click the  Clear button next to the "Summary of [column name]" or "Report of [column name]" tag to return to your original report.

HawkSoft enables you to filter your report by item type, pay method, office, and more.

  1. Click Filter.

  2. Click on an item to filter by.

  3. Conditional: If you are filtering by a monetary item, then enter a minimum, maximum, or both.

  4. Conditional: If you are filtering by a non-monetary item, then check the box next to any number of items to include in the filter.

Click the X Clear All button at the bottom of the Filters dialog to remove all active filters.

HawkSoft enables you to filter your report by key information, including the Item #, Name, Payee, and Memo columns. To see a full list, hover over the filter icon.

To search for items with a specific value in any of these fields, type into the Filter by keyword box. This box searches and filters your report for the specified text in all of the relevant columns at the same time.

Click the X Clear All button on the left of the Filter by keyword box to remove your search filter.

You can export report information from HawkSoft to a CSV spreadsheet file. You can then open the exported data in a spreadsheet program, such as Microsoft Excel.

  1. Click  Export to CSV.

    The Enter Filename dialog opens.

    By default, the spreadsheet will be named "[mm/dd/yyyy] [report name]".

  2. Optional: Re-name the exported file by typing a new name into the field dialog.

  3. Click Download.

    The CSV spreadsheet will be saved to your computer's local Downloads folder.

You can print accounting reports from Excel or other spreadsheet software after exporting them as a CSV spreadsheet file.

You can view any Trust Accounting report by line item, instead of by transaction. This provides you with additional detail on your revenue streams. By default, the Line Item report is summarized by Line Item Name.

Trust Accounting reports do not include courtesy invoices or other transactions that are not linked to a bank account.

  1. Click Line Items.

  2. Click a line item to view a report containing just those line items.

    OR

    Click X Clear Summary to view the full list of line items.

You can sort, summarize, and export this report using the same tools as the base report.

You can summarize any Trust Accounting report by pay method. This provides you with additional detail on what payments you took. For example, how much cash you have to reconcile in the till.

This report only includes payments listed on the base Trust Accounting report. This report does not include unapplied credits or payables.

  1. Click Pay Methods.

  2. Click a pay method to view a report containing just those payments.

    OR

    Click XClear Summary to view the full list of payments.

You can sort, summarize, and export this report using the same tools as the base report.

While most trust accounting report columns simply display data from the client/policy or transaction, some columns are calculated values, or have other special properties that you may need to be aware of.

Column title Condition Details
Invoice Paid Receipt

The invoice number the receipt was added/paid on.

If the receipt is linked to multiple invoices, then --Multiple-- is displayed.

If the receipt is linked to no invoices, then Client Credit is displayed.
Created by Receipt Receipt

Shows whether the invoice was created by the receipt or not.

  • Yes: The invoice was created by the receipt

  • No: The invoice was added to the receipt

  • N/A: Multiple invoices are linked to the receipt
Amount Due Receipt

The amount due on the invoice at the point this payment was applied.
Invoice The current amount due.
Credit Memo The current amount due.
Account Invoice The account name the invoice item is associated with. If the invoice is associated with multiple accounts, then --Split-- is displayed.
Credit Memo The account name the credit memo item is associated with. If the credit memo is associated with multiple accounts, then --Split-- is displayed.
Receipt For receipts that created invoices, shows the account name the invoice item is associated with. If the invoice is associated with multiple accounts, then --Split-- is displayed.

The Non-Fiduciary column

The Non-Fiduciary column represents money held by the agency in trust that is not yet recognized as income. This is calculated based on the item type.

Item Type Details
Invoice Not calculated; always $0.00.
Credit Memo Not calculated; always $0.00.
Company Payable Check The total retained commission added to the check from all line items.
Agency Revenue Check Not calculated; always $0.00.
Direct Bill Disbursement Check

The total retained commission added to the check from all line items.

HawkSoft recommends against using Company-Payee line items for agency billing.
NSF Check

Should always be $0.00.

Agencies that have configured retained commission for an NSF line item template may see a balance in this column. HawkSoft recommends against using retained commission for NSF line item templates.
Insured Refund Check Not calculated; always $0.00.
Payment Not calculated; always $0.00.
Receipt

The total of all agency revenue line items on invoices paid using this receipt.

Because these funds are not realized until the invoice has been fully paid, the non-fiduciary amount only includes invoices that were paid off by this receipt. Invoices with remaining balances are not included.

QuickBooks Export columns

These columns contain information about the export of transactions to QuickBooks, and can be especially helpful for agencies exporting o multiple QuickBooks companies to track where and when transactions were exported.

Column Details
Status Displays the transfer status of the item, such as Transferred, Not Transferred, Do Not Transfer, Mixed, or Reversed.
Integration

The name of the QuickBooks integration that the transaction was exported to. Additionally, the Integration column:

  • Is blank for items that have not been exported.

  • Shows the most recent export for items that have been reversed and re-exported.

  • Shows Legacy Integration for items originally created under HawkSoft's previous QuickBooks integration.

Legacy Integration items are not linked to any active integration. Reversing these items will not affect or make changes in any QuickBooks company.
Export Date

The date, in the agency's time zone, that the transaction was exported.

Shows blank if the item has not been exported or has been successfully reversed.

If the item was reversed and then re-exported, shows the most recent date it was exported.

In order to complete this task, user permissions must be set to include:

Accounting Reporting > Access Trust Accounting Report

See User Permissions for more information.

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