Managing and Adjusting Billing Company Payouts In Ascend

Learn how to effectively manage pending policy payouts and perform necessary policy adjustments within the Ascend dashboard. This guide walks you through reviewing documents, approving payments, and updating premium amounts to ensure accurate remittance.

Jack Brown
17 steps
2 minutes

Useascend

A **payout** to a billing company (wholesaler/carrier) can be approved for disbursement once payment from the insured has cleared. Payouts approved prior to the effective date of the policy will be held until the effective date. You can view a policy-level view of all payouts at <https://dashboard.useascend.com/accounting/payables>

Approving a payout

Navigate to <https://dashboard.useascend.com/accounting/approval>

Click the policy you want to review and approve for payment to the carrier/wholesaler. In order to approve a payout, the following information must be in Ascend - Policy number: can be added from this page, and Ascend will also email the account manager listed on the program once the insured payment clears asking them to add the policy number in Ascend. - Billing company payment method: Ascend maintains a database of all carriers/wholesaler in the United States. We generally already have payment methods for most companies. For more information managing billing company information, see [here](https://support.useascend.com/articles/6985274616-add-a-new-carrier-wholesaler-or-mga?lang=en).

The drawer that opens will allow you to review the payout to ensure it's accurate, then approve for disbursement. Payouts are released every day between 3-4p PST. More information on flow of funds and payout timing can be found [here](https://support.useascend.com/articles/1042378743-payouts-flow-of-funds?lang=en#how-do-i-know-when-funds-have-been-deposited-in-my-account-for-each-payout).

The drawer that opens breaks out the funds that will be sent to the carrier and the funds that will be sent to your agency. Clicking the down icon will show you a breakdown of premium/taxes/fees. Compare this to the invoice/statement you received from the carrier to ensure the payout is accurate.

You can view all documents attached in Ascend, ensure your team is uploading carrier/wholesaler invoices to Ascend as they receive them. For instructions on how to upload an invoice to Ascend, see [here](https://support.useascend.com/articles/3085931289-create-a-new-program-invoice#i-received-the-invoice-how-do-i-upload-it).

If the carrier/wholesaler invoice matches the amount being paid to the company in Ascend, click "Approve payout"

Click "Approve"

This is all that's needed to successfully process a payment to a carrier/wholesaler using Ascend.

If you accidentally approve a payout or the amount in Ascend does not match the amount on the carrier/wholesaler invoice, continue reading below.

Un-approving a payout

Immediately after approving a payout, you will have the option to un-approve it by clicking "Unapprove payout".

If you no longer see the unapprove button, or need to un-approve a payout you previously approved, visit <https://dashboard.useascend.com/accounting/payables> to view a list of all payouts, including those approved but not yet sent

Select the Pending payout you want to un-approve

Click "Unapprove payout"

Click Unapprove

Editing a payout

If the payout in Ascend does not match the carrier/wholesaler invoice, you will need to adjust it in Ascend. This can only be performed by users with Accounting or Admin permissions

Click "Edit policy"

Make all necessary adjustments, which can include - Editing or removing the wholesaler/MGA: this will change where the funds are sent - Editing commission: will change how much is sent to your agency vs. the billing company - Editing premium/taxes/fees: will either trigger a refund (if the insured overpaid) or create a balance for the insured (if they underpaid). For more information, see [here](https://support.useascend.com/articles/3147435847-pending-approval#3-incorrect-gross-premium).

Click "Review and continue"

If the insured overpaid, you will see a summary of the changes and amount to be refunded. Click confirm to complete the adjustment.

If the insured underpaid, you can either create a balance and payment link for them to cover the short payment, or you can cover the difference out of your commission payout (typically used for small amounts). You can also add a reason for the adjustment which will be shown to the insured if you choose to create a new payment link.

Once you make your select, clicking "Confirm" will complete the adjusmtment.

Note that if the insured underpaid, payment will not be issued to the carrier until the remaining balance is paid (either by the insured or by the agency, depending on your selection above).