Bookkeeping in Applied Epic: Do’s and Don’ts for Accurate Reporting

February 16, 2026

Bookkeeping in Applied Epic is the foundation of accurate financial reporting, regulatory compliance, and day-to-day operational confidence. When bookkeeping is done correctly, agencies can trust their balances, stay current on payables and receivables, and avoid costly errors that ripple across payroll, commissions, and carrier relationships.

In this blog, you’ll explore bookkeeping do’s and don’ts in Applied Epic. These items will highlight key best practices to help teams stay organized, reconciled, and in control, while also calling out common pitfalls that can quietly undermine financial health if left unchecked.

The Do's of Bookkeeping in Applied Epic

Record bank activity daily to ensure receipts and disbursements are entered exactly as they appear on the bank statement.
Reconcile bank accounts through the month in Applied Epic with the rolling bank ending balance.
Run the Aged Outstanding Current Balances Report weekly to confirm clients are paid/refunded, accounts remain current, and review if any credits need to be applied to debits.
Run the Aged Current Premium Payables report weekly to ensure no premium payables are missed.
Run the Balancing Current Receivable Report at month end to verify that the summary page payable balance matches both the GL Account balance and the company/broker payable totals on the Balance Sheet.
Run the Balancing Current Receivables Report at month end to confirm the ending balance matches the Accounts Receivable on the Balance Sheet.
Run the Bank Reconciliation Detail Report for outstanding items only at month end to ensure that the total difference aligns with the Balance Sheet vs. actual bank balance.
Create Premium Payables using the carrier invoice, ensuring the amount matches exactly.
Use "Right Click > Pay Statement" when paying premium payables.
Record Payroll in Applied Epic accurately and timely.
Reconcile Producer/Brokers monthly and associate it to the disbursement or journal entry accordingly.
Enter client agency bill payments and carrier return premiums promptly into the trust account.
Transfer Agency Bill Commission from the trust bank account to the operating bank account routinely, but always leave a buffer.

The Do's of Bookkeeping in Applied Epic

Do not mix business and personal finances. Company credit cards and operating accounts must be used strictly for company expenses.
Do not fall behind on entering bank transactions.
Do not use the wrong bank account for entries.
Do not enter Direct Bill Commission receipts without planning to enter a corresponding reconciliation statement.
Do not keep months open after closing periods.
Do not keep the prior year open while running January financials.
Do not use generic GL codes for all expenses. Categorize properly.
Do not rely solely on your bank balance to assess financial health.
Do not pay carrier premiums for the operating account.
Do not pay operating expenses from the trust account.
Do not enter the wrong commission amount on agency bill transactions.
Do not guess which PPE (Premium Payable Entity) to use on your policies, transactions, or GL entries.
Do not allow accounting activities to fall behind.

Expert Outsourced Bookkeeping

Does your team feel stretched enough as it is and want expert backup for managing your agency’s bookkeeping? Kite Technology has a team of Applied Epic Agency Bookkeepers ready to lend a hand! Our services are customizable to your agency’s needs and include tasks such as direct bill commission reconciliation, vendor payables, Pr/Br payables, month-end bank reconciliation, and much more.

Reach out to our team if you would like to explore how a dedicated bookkeeping team member from KiteTech would fit your agency’s needs.