Creating Billing for multiple policies with a single finance agreement
Print Here are the general steps to follow when several policies are financed on a single finance agreement1. Enter each policy premium, taxes, and fees. 2. Select the correct billing type (with outside financing) 3. click Generate Transactions. so far 1-3 are just the regular steps performed for all type of billing
Adjust the financing amounts Simply enter the financed amount shown on the Finance agreement into the financed amount on the endorsement NOTE Finance companies have to provide this break down, so if you don't see it in your documents, please ask them for the breakdown. Their software has that info and should be able to produce a report. Adjust the Receivables 5.1. If you have used the "Combine Receivables" option and have just a single receivable, then simply plug in the Down Payment amount from the finance agreement into the Receivable slot (dollar amount) simply adjust the down-payment for the Premium Adjust the Payables NOTE Repeat steps 4-7 for all other policies You are now done! and can go to the Insured's Details page > click Documents > Invoices and Receipts to create a single a single invoice for the Down-payment on all policies. TIP
and compare the numbers to the Finance agreement:
and another view from the Client Account overview page:
