Setting up Company File for Life Insurance Broker - Customer Details
Life Insurance Broker Client - he wants his QBO to be setup as follows:
Client level detail for all payments he's receiving from about 3 main life insurance carriers.
Within the client level detail he would like to associate those that are for a few agents that he has working under him, as well as those clients that are his.
Ultimately wants to be able to report on revenue streams, by client, carrier, agent, etc. and use this to forecast, etc.
The deposits received into the 1 main bank account can consist of many line items of detail by customer/type of payment (% of premium, residuals, commissions, charge-backs, lead tracking charges) - these would then need to be matched by customer with the associated revenue offsets (charge-backs/lead tracking charges) booked appropriately.
All of this daily deposit detail lives w/in the database of the individual insurance carriers. Would one use a sales receipt in order to do this since he's not invoicing clients? Is this all too much detail to setup within QBO? I want to be able to guide this process and have it be as streamlined as possible - looking for suggestions and help as to how to proceed.
Please advise on the client level detail/category setup and subsequent revenue categorizing on the P&L.