The quick read
Key points
- Use a consistent claim reference.
- Keep receipts and costs separately visible.
- Resolve outstanding claim items with evidence.
Create a claim reference
Record the property, incident date, claim number and insurer correspondence. Keep estimates, invoices and settlement details together. Redact unrelated personal information when preparing documents for a collaborator.
Separate receipts from repair payments
List each insurer payment and each contractor payment with its source account and date. A repair invoice may be paid before or after the insurance receipt. Avoid treating the net difference as the only record of both events.
Explain what each amount represents
Identify deductibles, partial settlements, withheld amounts and disputed items in your review notes. Ask your accountant how to classify the specific receipts and costs. The description on a bank deposit does not establish the correct income, asset or expense treatment.
Follow unresolved items
Maintain a list of expected documents or payments and update it as evidence arrives. Compare actual entries with the claim pack at each review. IQ records booked activity; it does not manage an insurance claim or determine coverage.
Before you finish
- Use a consistent claim reference.
- Keep receipts and costs separately visible.
- Resolve outstanding claim items with evidence.
Keep your next step simple.
Use the product guide for the app workflow, or contact support with your question. Bookkeeping reports are not tax advice; review filing decisions with a qualified professional.