ePay Policy Integration – BindHQ

How to set up ePay Policy in BindHQ, How the integration works

Applies to:

Accountants
Admins

Last Updated: January 2023

This article explains how to set up and use the ePay Policy integration in BindHQ

The sections for this article are:

Enabling and configuring the ePay Policy integration
How does the integration work
Finding the Retail Agency Integration ID (ePay Policy Account Number)

ePay Policy integration walkthrough

MGA, MGU, and Wholesaler accountants can spend a significant amount of time managing this workflow, creating agent statements, sharing them with Retail Agents, checking bank accounts to see if the payment has arrived (or even worse cashing in checks) then creating receipts and applying these amounts to the invoices in BindHQ.

The BindHQ ePay integration automates many of the manual steps that are performed today by various Accounts Receivable clerks.

Enabling and configuring the ePay Policy integration

Admins can enable the ePay Policy integration by going to Admin / Advanced Settings / General / Epay

After toggling the Enabled? toggle specify the Receipt Bank account and the Receipt accounts. These are the Bank account and the General Ledger account that will be used when BindHQ creates the automatic invoices.

Receipt Bank Account: the bank account where the receipt created by ePay Policy will post. It can be a bank account or 'Undeposited Funds'

Receipt Account: the Receivable account that will be credited when the automatic receipt is created

Domain: the Retail Agency facing website address, without https:// or any other addition to the root address. This is used to print the address on invoices and link the end user to the payment page.

By default, BindHQ suggests using Undeposited Funds for the Receipt Bank Account and the default Accounts Receivable account for the Receipt Account.

Using Undeposited Funds and Accounts Receivable means that payments made on the ePay Policy website will credit the Receipt Account near real-time, but the receipts will go to an intermediary Undeposited Funds account until the funds arrive from ePay policy. It can be deposited as a batch process to the operating bank account once the funds hit your operating bank account from ePay Policy. (ePay Policy's funding timeline is generally 2 days as per https://epaypolicy.com/faq/ )

Automatic Receipts created by ePay will behave like manual receipts. The above configuration will be used to select a Receipt Bank Account and a Receipt Account automatically. The receipt will be automatically applied to the policies selected by the Retail Agent on the ePay Policy website.

The API Key is a technical string that the ePay policy team will need to enable the integration.
The API URL will be the same as your BindHQ URL, for instance, https://mymga.bindhq.com

The API Key and API URL are the same for all divisions.

Enabling the ePay integration from ePay's side

For the ePay Policy integration to work, an account needs to be created in ePay Policy. Visit https://epaypolicy.com/sign-up-request/ to get started!

Initiating the integration at ePay Policy's side

The current ePay Account Manager will collect the client’s username and password and 3 account’s credentials (Account #’s and Zip codes) from the client that will be used to test the integration
Once collected, the ePay account manager will create a case for ePay’s integrations team.
The integrations team will need the ePay Policy API key. This can be found under Admin / Advanced Settings / Epay
Once obtained, the ePay team will plug in the API key and test the integration.
Integration team will confirm active status with ePay AM and BindHQ
ePay AM sends an email confirming the successful status once the integration has been turned on and tested.

Enabling the display of ePay policy link on invoices

To display the ePay link, the Retail agency Integration ID (Account number) and the Retail Agency Accounting ZIP code (ZIP code) on the invoices an admin shall enable the "Show ePay link on invoice" toggle under Settings / Accounting / Payment

This is a separate toggle as admins might want to test the integration before enabling it on all customer-facing invoices.

Once enabled the information will be displayed on invoices, with a clickable link that prefills the information on the epay website.

Clicking the link brings up the ePay policy payment website with the outstanding invoices:

How does the integration work?

The BindHQ ePay Policy integration enables Retail Agents to pay outstanding invoices easily while saving time for the MGA accounting team.

The Retail Agency user can use the BindHQ Retail Agency Integration ID (Account number) and their Retail Agency Accounting ZIP Code to fetch their balances on outstanding invoices in real-time and understand various invoice details.

Invoices can be selected that automatically adds the invoice balance to the total payable amount. Selecting either a Credit Card or ACH as a payment option, and adding additional information then enables the user to initiate the payment.

Once the payment has been made the funds are transferred to ePay's bank account.

The integration automatically creates receipts in BindHQ and applies them to the selected invoices.

The created receipt will contain the Unique identification of the transaction in the Memo field, so that the ePay Policy transfer to your bank account can be reconciled with the payment made on the ePay website.

To learn more about the ePay integration visit https://epaypolicy.com/how-it-works/

Finding the Retail Agency Integration ID (ePay Policy Account number)

You can find the automatically generated Retail Agency Integration ID (ePay Policy Account Number) on the Retail Agency screen under Details / Admin

This information is also displayed on invoices if ePay is enabled, alongside with a link that takes the user to the ePay website, ePay Policy Account Number and Retail Agency Accounting ZIP code prefilled, so that the invoices automatically show up. Easy!