Select a corresponding bill and invoice to process a Third-Party Payment
Last Updated: September 2020
This article explains how Accounting can process Third-Party Payments by selecting a corresponding bill and invoice
Third-party payments may be used to adjust AR and AP values in the case that an agent or finance company has paid a carrier directly.
- Navigate to a policy and select the Accounting tab.
- From the transaction line you want to process a third-party payment on, check the Status checkboxes to the right of the invoice and bill.
- On the bottom right, click Process 3rd Party Payment.
The Third Party Payment pop-up displays.
- Fill in the Posted At, Amount, and Memo fields.
- Click Process Payment.
- A journal entry is created with an AP debit and AR credit used to automatically offset the bill and invoice. Any remaining amount stays open on the journal entry.