Adding Premium Financing Details to Policy from the Administration Tab
Last Updated: September 2020
Adding Premium Financing Details
- Navigate to a policy and select the Administration tab.
- On the left, ensure Details is selected.
- Fill in the Finance Account Number, Finance Company, and Contact Agent fields.
- Click Save Policy.
The financing details are saved.
Effects of Adding Premium Financing Details
When Premium Financing details are added to a policy:
- The existing invoices for that policy will be regenerated showing the Financing Company and Account Number
- Agency Statements will indicate that the policy is financed
- The Data Dump export will show the Financing Company name for that policy
Making a Payment for the Financed Policy
- Navigate to a financed policy and select the Accounting tab.
- Click the row of the desired transaction to expand it
- Click the View button to open the transaction
- When the transaction is open, click the Actions button on the top right
- Select the Make Payment option
- The Payment Details page will open, the finance company will be automatically set as the Payee, and there will be a notification that ‘The selected transactions are financed by [Finance Company]’
- If printing a check is selected when making the payment, then the Check and Check Remittance will display the finance company details (see Using the Payment Detail page