Billing and Accounting
      Back to home
      1. NowCerts Support Center
      2. Support Resources
      3. Billing and Accounting

      Endorsements

      Endorsements

      Print

      Endorsements are defined as changes to policy coverages and conditions. Some endorsements result in a change to the Premium while others do not. Depending on the type of billing for the policy, endorsements can generate a number of transactions that are of interest to the agency. These include:

      • Commission
      • Non-commission Revenue (fees & taxes)
      • Receivables (funds to be collected from the insured)
      • Payables (moneys to be sent to the carrier / MGA).
      • Charge-backs are negative commissions resulting from a negative endorsement (cancellations/negative endorsements[return credit]).