Invoicing Package Policies

When you bill a package policy, you can bill from either the Main Package screen, or from the Individual Subsections. This Document outlines steps and suggestions for both procedures. You must decide which workflow should be standard for your agency.

Before deciding which workflow to follow, consider the following:

Bill from the Main Package

  1. Create the PCKG policy at the commission of the first policy, with the premium set to the full policy premium. Create the individual subsections with the correct commission for that policy, but zero premium.
  2. Transact one invoice on the PCKG policy for the full amount of the policy premium. Before (E)nding out of the transaction, (S)plit the commission. This will allow you to set up the separate commissions for each policy. "Answer "N" to the question Get Global Split Values?" and then set up your commissions. In the example below, assume that I have three subsections, each with a premium of $1000, each with a different commission percentage.

ICo Bco Co % Pr1 Pr2 Pr3 Exp % Premium Pr%

  1. TRA TRA 10.00 RFN 100.00 1000.00 N
  2. TRA TRA 15.00 RFN 100.00 1000.00 N
  3. TRA TRA 20.00 RFN 100.00 1000.00 N

This will generate one invoice through closeday.

If you followed this procedure, and you wanted to be able to view the individual premiums for each policy on the customer screen, rather than viewing the total policy premium, you would need to take this extra step:

  1. Manually revise the PCKG billing screen to change the commission to zero, and the premium amount from the total premium to zero. Manually revise each subsection from zero to the amount of that policy’s premium.

Bill from Individual Subsections

Generate one invoice

  1. Create the PCKG policy at zero commission, with zero premium. Create the individual subsections with the correct commission and the correct premium for that policy only.
  2. Invoice each policy for the amount of that policy’s premium. When you are entering the transaction, be careful to change the Print? field to an "N" so that these items will not print an invoice through closeday.
  3. Invoice a MEM transaction on the PCKG billing screen for the total amount of the policy premium. This will be the only invoice that prints through closeday.
  4. If you followed this procedure, and you wanted to be able to view the total premium on the customer screen, rather than viewing the premiums for the individual subsections, you would need to take this extra step:

  1. Manually revise the PCKG billing screen to change the Premium amount from zero to the full premium for the policy. Manually revise each subsection from the amount of that policy’s premium to zero.

Generate individual invoices

  1. Create the PCKG policy at zero commission, with zero premium. Create the individual subsections with the correct commission and the correct premium for that policy only.
  2. Invoice each policy for the amount of that policy’s premium.
  3. If you followed this procedure, and you wanted to be able to view the total premium on the customer screen, rather than viewing the premiums for the individual subsections, you would need to take this extra step:

  1. Manually revise the PCKG billing screen to change the Premium amount from zero to the full premium for the policy. Manually revise each subsection from the amount of that policy’s premium to zero.

Last Revised: February 19, 2008 02:23 PM

SWE1925