Transaction Types

Product: The Agency Manager, Series 6, 7, and 8

This document lists all the standard transaction types used in TAM. A description of the transaction is provided, as well as an explanation of the reports where the transaction will display, and the accounts the transaction may affect at Month-End.

ADV

The Advance transaction is generated when a direct bill advance is done through the cash disbursements program in the general ledger. This is used when the insured pays the agency for a direct bill policy and the agency forwards the premium to the insurance company.

AFE

The Agency Fee transaction is used to bill a fee charged by (and retained by) the agency.

AUD

The Audit transaction is used to invoice an item from a previous policy term. To have the correct policy information on your transaction (i.e., company, commission, policy #, effective and expiration dates), you need to either transact the AUD from policy history or use the Override option on the transaction screen. Enter as either positive or negative, depending on how you wish to affect the customer balance.

BIN

The Binder Bill transaction invoices a customer to collect money before the insurance company issues the policy and you do not want it to display on your account current. For more information, refer to the Binder Bill Transactions in TAM document.

CAN

The Cancellation transaction transacts cancellations. On agency-billed policies, a CAN produces a credit invoice for the return premium that is printed at Close-Day. Enter this amount as a positive figure, as this is a credit transaction.

CFE

The Company Fee transaction invoices the client for a fee above and beyond the premium and that is remitted in full to the insurance company.

CFN

The Company Finance transaction is used when a portion of the premium is financed and remitted directly to insurance company, bypassing the agency.

CHG

The Service Charge transaction is created when the Service Charge routine is run through the Month-End menu or through the Aged Receivable option on the reports menu. This program applies a CHG as a percentage (determined by the user) of the balance for items over X days old.

COM

This is an internal transaction generated through direct bill reconciliation when an item is flagged as Commission Received. If you pay producers on PAID items for direct bill business, you must have a COM attached to the direct bill invoice before the producer is paid.

CRB

This is an Internal transaction generated when transacting on a broker billed policy. The CRB gets applied to a debit invoice to zero the customer’s item balance.

CRF

This is an Internal transaction generated by a FIN when a premium is financed and the FIN applied to your debit invoice.

CRI

This is an Internal transaction and stands for a credit from another invoice. The CRI is always attached to a debit invoice when a credit invoice has been applied against it.

CRP

This is an Internal transaction that stands for a credit from a payment. This is generated when a PAY (cash receipt) is applied against an agency-billed transaction.

CTZ

Canadian TAM Only

This is an Internal transaction and stands for "Credit to zero out" an invoice. The CTZ transaction is in balance with a DTZ transaction. You may see two CTZ and one DTZ, but the total of all the CTZ and DTZ with the same creation date is ZERO. This transaction is created by the Apply Debits to Credits function. When these transactions are created, the client balance must be zero. Only one transaction is created to zero out the invoice. This is a transaction similar to CRI. The biggest difference is that there is usually only one CTZ or DTZ per invoice.

DBA

This is an Internal transaction generated when a direct bill advance (ADV) transaction is applied to a credit transaction (usually a PAY).

DBI

This is an Internal transaction that stands for debit from another invoice. A DBI is always attached to a credit invoice when a debit invoice is applied to it.

DBR

This is an Internal transaction that gets created when the debit from a return premium transaction (RET) is applied to a credit invoice.

DBW

The Direct Bill Writeoff transaction is an Internal transaction created by removing an item in Direct Bill reconciliations or by running Remove Direct Bill Balances.

DTZ

Canadian TAM Only

This is an Internal transaction and stands for Debit to zero out an invoice. The DTZ transaction is in balance with a CTZ transaction. You may see two or more DTZ and one CTZ, but the total of all the CTZ and DTZ with the same creation date is ZERO. This transaction is created by the Apply Debits to Credits function. When these transactions are created, the client balance must be ZERO. Only one transaction can be created to zero out the invoice. This is a transaction similar to DBI. The biggest difference is that, normally, there is only one DTZ or CTZ per invoice.

+EN

The Positive Endorsement transacts an additional premium due to a change in policy coverage.

-EN

The Negative Endorsement transacts a decrease in premium due to a policy change.

FIN

The Finance transaction is used when the premium to be financed is sent to the agency from an outside finance company.

INS

The Installment transaction is used to invoice an installment plan for any business with the agency. For more information, see NIS/RIS.

JE

You find several different options when you select this transaction.

WRITE-OFFS

The executive usercode has full access to write off any amount. Security for other users to change the writeoff amount is located in Security Manager (or TAM>SYS_INST, 2, 10 for Series 6).

  1. JE1 Write off to Bad Debt
  2. JE2 Waive Small Balance
  3. JE3 Reverse Service Charge

J/E BETWEEN ITEMS

Same as Apply Debits to Credits, except that you control what is applied to each other. Reverse by deleting the CRI or DBI through Update Transactions (current month only).

J/E BETWEEN CLIENTS

Used to transfer a balance from one customer to another. This creates a TRN transaction on both customers, one for a positive amount, one negative. The total of your TRN transaction should always equal zero for a month

APPLY DEBITS TO CREDITS

Note: This utility is not recommended. The best procedure is to manually apply credits to the appropriate debits.

Used to apply a debit invoice to a credit invoice or vice versa. Creates a CRI & DBI as described above. Takes first credit and applies to oldest item (on ALL policies) until all of the credits are applied. You have no control over what is applied. Must reverse each item manually by deleting the CRI or DBI through update transactions (current month only).

For Canadian TAM: Applies a debit invoice to a credit invoice or vice versa. Two conditions must be encountered to run this function:

  1. Client balance must be zero.
  2. No PDCs (postdated cheques) outstanding on the client.
  3. It creates DTZ and CTZ transactions, as described above. It takes the first opened transaction and creates CTZ or DTZ to bring the balance of that invoice to zero. It proceeds with the next opened transaction and continues until there is no more open transactions for the client. (Example: The invoice balance is 500.00 DT. => Creation of a CTZ = -500.00). Since the client balance was zero at the beginning of the process, at the end of it, the client balance is still zero. This has the advantage of creating less transactions, making the history easier to read.

User-Defined Transactions

Created through Utilities, Accounting, Receivables, User Defined Transactions (or Options, The Agency Manager for DOS, Utilities (UT), System Setup, Accounting Setup (6), User Defined Transactions (3) for Series 6). For more information, refer to the User-Defined Transactions document or the TAM Help File. 

Offset To a Specific Account

This is just like a one-time, user-defined J/E, or entering a JNL transaction at customer level. Does not have to be set up through utilities. Asks you the offsetting account when you enter it at customer level.

JNL

The Journal Entry transaction can be created by entering the transaction type JNL or by entering a J/E - Offset to Specific Account. This prompts you to enter an offsetting account for the transactions. Because the transaction automatically affects the customer balance and affects Accounts Receivables, you should never offset the Receivables account. This causes an out-of-balance situation, and should only be done under the supervision of a support technician.

MEM

The Memo billing transaction is a "dummy" bill used to generate an invoice without changing the customers balance or affecting the general ledger.

MSC

This Miscellaneous transaction is created from entering customer opening balances when an agency first goes "live" on TAM. You cannot enter an MSC at the transaction screen.

NEW

The New Policy transaction is used to transact new business written with the agency.

NIS

The New Installment transaction is used to invoice and installment plan for new business with the agency.

PAY

The Payment transaction is generated when a cash receipt is entered for the client in the general ledger. The payment may be left on account or applied to a specific invoice or policy.

REN

The Renewal transaction transacts renewal business written with the agency.

RET

The Return transaction is generated when a disbursement in the general ledger is issued to the client. This transaction is offset to a credit transaction (such as a CAN).

REW

The Rewrite transaction is used when the agency rewrites the policy, sometimes with another company or if a policy is reinstated with the same company.

RIS

Use the Renewal Installment transaction to invoice and installment plan for renewal business with the agency.

TRN

The Transfer transaction is created by the J/E - J/E Between Clients option. This creates a TRN for a credit on one of the customers, and a TRN for a debit of the same amount on the other. TRN transactions can be viewed on the Miscellaneous Production Report, and the total off all TRNs on all customers for a month should always total zero.

Last Revised: October 20, 2010 04:38 PM

SWE2031