Processing Third-Party Payments

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.

1. Navigate to a policy and select the Accounting tab.
2. 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.
3. On the bottom right, click Process 3rd Party Payment.
   
   
   The Third Party Payment pop-up displays.
4. Fill in the Posted At, Amount, and Memo fields.
5. Click Process Payment.
   
   
6. 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.