User-Defined Transactions

If the system's standard transaction types do not fit a certain situation, use this utility to create the necessary transaction type. Define up to 80 transactions. You might wish to define a transaction type, for example, to do any of the following:

• Provide an employee discount on insurance written with the firm.
• Reverse a finance company, lienholder, or broker bill transaction.
• Define additional types of cancellations.

You must designate the transactions defined as agency billed, direct billed, or miscellaneous, which means they are not directly production oriented, such as in the employee discount example above. Miscellaneous transactions appear on the Miscellaneous Production Report. You may designate direct and agency bill transactions as commissionable or non-commissionable.

Note: User-defined cancellations are used to track different types of cancellations. This transaction type zeros the Premium field and updates the Status field on the Customer Billing screen.

1. At Home Base, click Utilities.
2. On the Utility Manager screen, open the Accounting folder in the treeview.
3. Open the Receivables folder.
4. Select User-Defined Transactions.
5. Click the arrow to continue.
6. To create a new type of transaction, enter a three-character code in the Transaction field (for example, you might enter EMP to designate an employee discount). You may not have duplicate transaction types. Click Yes to verify that this is a new transaction type.
   
   To revise an existing transaction type, double click in the Transaction field to select from a list of codes.
7. Select a Flag Value to indicate the type of production for which this transaction is used.
   
   If you enter Miscellaneous, specify the account to which to apply the transaction (usually, an income or expense account). Miscellaneous transactions will always offset to Accounts Receivable. For example, if you were entering an employee discount, the GL account number you choose would most likely be an employee dividend expense account because the employee dividend increases the agency's operating costs.
   
   
8. Enter a Description to identify the transaction when you use it in the system.
9. If applicable, check Commissionable Transaction, Cancellation Transaction, or NSF Transaction. (Miscellaneous transactions cannot be commissionable.)
10. Select the appropriate option in the Premium frame to determine how this transaction will affect the premium field at billing.
11. Click OK.
12. Click Yes to add the transaction to the record.