Add a Payment Transaction

Payment transactions are used to record payments received or to schedule advance payments. The workflow for entering payment transactions differs significantly from that for entering invoice (billing) transactions.

In order to enter payment transactions, you must ensure that payment transaction codes have been installed for your system in Transaction Code Configuration. Only transaction codes with a Class of Payment – Create Transmission File or Payment – No Transmission File are available for selection when adding payment transactions. If you are entering payments using an installment plan, you also need to ensure that an installment plan in your system has been designated as Payment. See Installment Plan Configuration.

If you are entering payments for a policy or line, it is recommended that you bill the policy first by adding an invoice transaction. When you finish entering the payment transaction, you will be prompted to apply credits to debits, enabling you to clean up receivables for the account.

1. Locate the account in question and access the Transactions area.
   1. To access Accounts from the Home screen, do one of the following:
      • Click Accounts on the navigation panel.
      • Click Areas > Accounts on the menubar.
      • Click the down arrow next to Home on the options bar and select Accounts.
      • Click Locate on the options bar.

   To access Accounts from another area of the program, do one of the following:

   • Click Home > Accounts on the menubar.
   • Click the down arrow next to Home on the options bar and select Accounts.
   • Click Locate on the options bar.

   2. In the Locate account dropdown menu, select Broker, Client, Finance Company, or Other Interest.
   3. In the Locate by dropdown menu, select the appropriate option.
   4. Select the suitable checkbox or checkboxes to the right.
      • Insureds (available only if Clients is selected in the Locate Account field)
      • Prospects (available only if Clients is selected in the Locate Account field)
      • Additional Interest (available only if Other Interest is selected in the Locate Account field)
      • Bill to (available only if Other Interest is selected in the Locate Account field)
      • Certificate Holder (available only if Other Interest is selected in the Locate Account field)
      • Active
      • Inactive
   5. Enter the first few letters of the name, policy number, phone number, etc. (depending on the selection in the Locate by dropdown menu) and press [Enter] or click Locate.
      
      Note: Location by phone number searches all phone numbers associated with client and contact accounts (e.g., residential, mobile, fax).
   6. The Results list displays all of the accounts that match the criteria you entered. Click on a column heading to sort the list by that category. For example, click the Last Name column heading to sort by last name in ascending order. To sort in descending order, click the Last Name column heading again.
   7. Highlight the desired item in the Results list.
   8. Do one of the following:
      • Click Transactions on the navigation panel.
      • Click Areas > Transactions on the menubar.
2. Do one of the following:
   • Click the Add button on the Transactions screen.
   • Click New on the options bar and select Transaction.
   • Click File > New > Transaction on the menubar.
   • Press [Insert] on your keyboard.
   • Press [Ctrl] + N.
3. In the Add Transaction section, select a radio button to indicate whether this is a Policy, Line, Account, or Service transaction.
   
   If you select the Policy or Line radio button, check the Include History checkbox if you want to show history policies in the list.
   
   Ensure that the correct Service Summary is selected as well.
4. In the Invoice/Payment frame, select Payment.
5. In the Transaction area, select one of the following:
   • Basic
     1. In the Details section, choose the correct Code.
     2. Enter or revise the transaction Description if necessary.
     3. Enter or revise the transaction Amount if necessary. The amount is negative by default, since this is a credit transaction.
     4. Make a selection in the Bill Number section.
        
        Note: If you are entering payments for a policy/line that has already been invoiced, you may want to add the payment transaction to the same bill as the corresponding invoice transaction.
        • New Bill
        • Existing
          1. Make a selection in the Locate by dropdown:
             • Bill Number: Enter at least the first digit of the bill number.
             • Date Entered: Enter a range of dates.
             • Entered By: Enter the user code. To look up the user code, click the lookup button, enter at least the first letter of the code, and click Locate. Select the user and click Finish.
          2. Click Locate.
          3. Select the appropriate bill and click Finish.
   • Installment
     1. In the Details section, select the installment Type.
     2. Select the appropriate installment Plan.
     3. Select the Code.
     4. Enter or revise the transaction Amount if necessary. The amount is negative by default, since this is a credit transaction.
     5. If the selected installment plan includes a down payment, the Down Payment amount defaults but can be changed.
     6. The number of Cycles defaults but can be changed.
        
        If the installment plan includes a down payment, it is included in the number of cycles. For example, a plan with six installments and a down payment will have seven cycles.
     7. Make a selection in the Bill Number section.
        
        Note: If you are entering payments for a policy/line that has already been invoiced, you may want to add the payment transaction to the same bill as the corresponding invoice transaction.
        • New Bill
        • Existing
          1. Make a selection in the Locate by dropdown:
             • Bill Number: Enter at least the first digit of the bill number.
             • Date Entered: Enter a range of dates.
             • Entered By: Enter the user code. To look up the user code, click the lookup button, enter at least the first letter of the code, and click Locate. Select the user and click Finish.
          2. Click Locate.
          3. Select the appropriate bill and click Finish.
6. Click Continue or press [Enter] to enter the transaction.
   
   Click Cancel or press [Esc] to cancel the transaction.
7. Transaction detail displays. In the Detail frame, the following dates default but can be modified:
   • Payment date: Effective (due) date for the payment (e.g. the date on a check or the date that the payment is to be transmitted to the financial institution). If this is an installment transaction, the payment date advances incrementally for each installment.
   • Payment received: Date the payment was/will be received (e.g. the date the check is received by the organization or the date that the funds are deposited electronically). If this is an installment transaction, the payment received date advances incrementally for each installment.
   • Accounting month: Month for which the payment will impact the General Ledger at Month-End. Defaults to the same month as the Payment date. If this is an installment transaction, the accounting month for each installment defaults to match the installment’s Payment date.
   • Production month: Defaults the same as the Accounting month. If this is an installment transaction, the production month for each installment is the same.
8. Select a payment Method.
9. Enter a Payment ID (e.g., a check number).  
10. In the Payment Information frame, use the Type dropdown to specify whether the payments are received from a Client, Broker, or Other Interest.
11. Select the Account and Contact.
12. Select a Payment option. Cash/Check is always available. You may also select a payment method that has been installed for the selected contact in contact detail.
    
    The Description of the selected payment method and the Name on account display.
13. If you are adding an installment transaction, click Continue to view the installment summary. Otherwise, continue to step 14.
    • The Installments screen displays information for all installments included in the plan. To change the information that displays in the list, click the Select Columns link label.
    • Highlight any installment in the list to view/revise information in the Details section below. The total amount of all installments must match the total transaction amount. Therefore, if you change the amount of an individual installment, you will need to update one or more of the other installment amounts to counteract the change.
14. Click Finish or press [Enter] to complete the workflow.
    
    Click Add to complete the workflow and add a second transaction for the selected client.
    
    Click Cancel or press [Esc] to exit the workflow without saving the information. You are prompted, “Do you wish to discard changes?” Click Yes.

Because this is a credit transaction, you may be prompted, “Do you wish to apply credits to debits?” Click Yes to use the Apply Credits to Debits workflow to apply the payment to an existing invoice transaction.

Note: If the transaction you have just added does not display in the list when you return to the Transactions screen after completing the workflow, or after you refresh the list or re-enter it from another area, edit your search criteria to include the newly added transaction.