Payment Methods

The following options are available when entering or updating a receipt line for a client, broker, lienholder, or finance company:

• Single Item: Select this option if you know the item number you are applying the payment toward.
• Select Item: Select this option to choose from a list of items charged to this entity.
• Bulk Payment: Select this option to have the system automatically apply the deposit to open items on the selected entity's account, starting with the oldest. If you select this option, you do not need to take any further actions.
• Leave on Account: Select this option if you are not going to apply the deposit to specific items yet (for example, if you receive a payment to be applied toward an item not yet billed). You can leave the deposit associated to the entity, or apply it toward a specific policy.

Single Item

Enter the item number and click OK.

If the Amount for the check is less than or equal to the item balance, the full amount of the check is applied to that item.

If the Amount for the check is more than the item balance, you receive the message, "Payment is greater than item balance. Click OK for Item Payment Screen." Click OK. The Item Payment screen displays with a list of open items for this account. See the Select Item section below for more information.

Select Item

The Item Payment screen displays with a list of open items for this account. Highlight an item in the list and click one of the following options:

• Full Payment: Apply the entire unapplied payment amount to the highlighted item.
• Partial Payment: Enter the amount of the payment you would like to apply to the highlighted item and click OK.
• Journal Entry
• • Select J/E Between Items to apply credits to debits.
  • 1. Click an individual policy for which to display items, or check All Policies to display all items. Items are listed in two columns: Item to Transfer From and Item to Transfer To.
    2. Select a debit or credit item from the Item to Transfer From list, then select a debit or credit item from the Item to Transfer To list.
    3. Adjust the Amount to Transfer field at the bottom of the window if necessary.
  • Select J/E Writeoffs to write off the remaining balance of the item. In the Write-Off frame, select Bad Debt Expense, Waive Small Balance, or Reverse Late Charge. The amount to write-off defaults based on the lesser of the established maximum write-off amount and the remaining balance of the item. Click OK. When you are done writing off items, click Cancel.
• View Accounting Note: Review any accounting notes associated to the item.
• Detail View: Review detailed information for the highlighted item, including policy and commission information.
• History View: View all transactions (items billed, items paid, and writeoffs) for this entity.

When you have finished applying the payment to items, click OK.