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Billing Setup/Policy Acct
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There were 36 questions found in this category:
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 Agency Bill Audit-credit amount. Company sends money back to agency minus the commission.
Example: The amount to be returned to insured is $500, but the company only sends the agency back $400.1. Do a credit endorsement in billing setup for $500. Debit 4000 $100
Debit 2200 $400
Credit 1100 $500 2. Deposit check from company to Quickbooks/Peachtree for $400. Deb...
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An invoice is printing on the client statement, but it is not calculated into the ageing at the bottom of the statement.
Check the following items:The due date of the invoice has passed and it hasn't been OK'd. OK the invoice.The invoice due date does not fall within the Pre-bill days on the application's Billing Setup, Billing Info tab. The invoice due date does not fall between the current date and the Pre-Bill Up ...
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Balance Due on client ageing report in IMSwin= 1100 (Accounts Receivable)+/- 1180 (Pre-Paid on Account)
The MI Management System uses an open invoice accounting system. This allows the user to apply credit amounts to specific invoices on a customers account. Therefore, the 1180 account is an asset account that recognizes the agency bill payments received on account, but that have not yet been applied ...
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Client has a zero balance. When trying to apply, the Accept button won't light up. Instead, the Credit button lights up and says there is $0.00.
This problem occurs when the MI Management System has a integer rounding problem. Please contact MI Customer Service Department. A technician will need to connect via pcAnywhere to correct the problem.
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Direct bill customer comes in and pays agency with cash or check.
Deposit the money in Peachtree/Quickbooks.
Debit Cash account
Credit 1520 account (In/Out Account)Fill out a check in Peachtree/Quickbooks.
Credit Cash account
Debit 1520 account (In/Out Account).
Note: If sending a check to agency, print check. If the money is automatically w...
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Error in Opening Billing Setup
Check the payment plan to see if it properly corresponds to the term length. For instance a 6 month policy should not have an annual payment plan. If this plan is being filled in incorrectly from download, contact Customer Service to change the default payment plan.
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How to bill an alternate person/organization (i.e. mortgagee) for an insured's premium.
Go into Billing Setup.Click in menu item, Reports and Invoicing.Select Alternate Billing and fill out the billing address.
Note: The invoice will reference the insured's name below the billing address. Alternate addresses only show up on invoices not statements...
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How to charge a client for an NSF fee.
Do an Endorsement in Billing Setup using Agency Service Fee under Item Description. This will debit the Accounts Receivable and credit Service Charge Income account.
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How to complete an endorsement.
When the endorsement (amended dec) is received, review the policy (application) endorsement for accuracy. Complete the tranlog. Invoice Endorsement premium
A. Go to the Billing Setup for the policy.
B. Click the Billing Info tab and check to make sure that all the information is accurate.
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How to do flat commission.
Example:
$1000.00 premium
$158.59 flat commission.There are possible ways to handle this:On the Billing Info tab under Commission Levels, put in $158.59 at 100% commission and the difference of $841.51 at 0% commission.Try to calculate the closest commission percentage and put that in Commissi...
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How to edit the Payments tab in Billing Setup
On the Billing Info tab, change the Pay Plan to Other. On the Payments tab, change only the date or the commissionable columns. Additional lines may be added by arrowing down. Extra lines may be deleted by doing Ctl+Delete.
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How to give employee discount on an agency bill account.
Go into Billing Setup for the appropriate policy.Go to Agency Invoices tab. Do an endorsement for a Balance Brought Forward for a negative amount (credit). Make sure to include a good description. A Balance Brought Forward is a non-accounting entry, it simply adjusts the client’s balance. Go to acco...
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How to invoice an audit or credit endorsement.
Go to the Billing Setup for the policy.Go to Agency or Direct Invoices tab.Click on the Endorsement button.Put in a due date, effective date and description (i.e. 2001-2002 Workers Comp Audit)In Item Description, select Agency Bill Premium or Direct Bill Premium if it is a commissionable amount.The ...
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How to modify the Policy Number/Company/Status on a policy from Billing Setup.
Go to the menu item App Info. Click Modify. Make the appropriate changes.
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How to refund a client who has an agency bill return premium.
Go into Billing Setup on the policy that has the return premium.Go to the Agency Invoices tab and do an endorsement for a negative amount. OK the invoice and exit Billing Setup.Go to the Invoices locator and use the filter to select the customer.Double click on the status of the credit endorsement ...
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How to reverse an agency bill payment.
There are several reasons to reverse a payment:
a. Payment was entered on the wrong client.
b. Payment check was returned non-sufficient funds.
c. Payment was entered in IMSwin instead of accounting software. Click on Receipts on the Banner.Find the client and the receipt and click on OK...
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How to reverse an invoice.
Go to Billing Setup. Click on Agency or Direct Invoices tab. Highlight the invoice. Click the Reverse Invoice button. Select Credit or Cancellation.Hit Enter key.Click on Create Reverse Invoice.It is better to use the Reverse Invoice button than the Endorsement button. The Reverse Invoices button do...
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How to split commissions between multiple producers in Billing Setup.
On Billing Info tab under Commission Splits, select the first producer from the drop down list. Either arrow down or hit the Insert key. Select the second producer using the drop down list.Make sure that the commission percentages are accurate. If they need to be changed, change under the New/Renewa...
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How to transfer a credit balance from one client to another
Go into Billing Setup on client X who has a credit balance. Do an endorsement called Balance Brought Forward for a positive amount.Go into Billing Setup on client Y who has a balance due. Do an endorsement called Balance Brought Forward for a negative amount. Balance Brought Forward is a non-acco...
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How to write off a bad debt.
Go to Billing Setup for the individual/policy. On the Agency Invoices tab, click on the endorsement button. Under Item Description, select Balance Brought Forward. Put in a negative amount. Because a Balance Brought Forward is a non-accounting entry, do a journal entry to offset it in the accoun...
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