Currently, in BriteCore, you can delete exported and unexported return premiums from the Accounts Receivable screen and Return Premium log. However, the ability to delete return premiums is going away in BriteCore.
- We are removing the option to delete return premium in BriteCore.
- You will need to decide if you want to enable the void return premium functionality.
Note: If you don’t enable the void return premium functionality, no one will be able to remove a return premium transaction.
Reasons for change
The void functionality will replace the delete functionality so BriteCore can:
- Improve data transfers with certain third-party vendors. The ability to delete a return premium before and after it’s exported complicates BriteCore’s ability to send transaction details via API to certain vendors.
- Document all accounting history.
Return premiums: Delete vs void
Deleting and voiding return premiums are similar but not quite the same.
Deleting a return premium
Deleting a return premium removes all of its information as if it never existed.
Note: Once all of the return premium’s information is removed, you can’t go back to see the associated transactions.
Once you delete a return premium, BriteCore:
- Removes the return premium transaction from the Return Premium Queue and the Account History table.
- Reverts the Trailing Balance amount in the Account History table to the amount that existed before the return premium was issued.
- Adds the amount of the deleted return premium as a credit in the Balance Details section.
- Generates the following Account History Row Deleted note on the policy’s Notes screen:
The <Return Premium Date> Return Premium was deleted.
Note: When you delete a return premium, BriteCore behaves as if the transaction never occurred.
Voiding a return premium
The void return premium functionality allows you to:
- Void a return premium, which:
- Marks the return premium void.
- Keeps the original transaction in the Account History table.
- Adds a transaction to the Account History table, negating the amount and adding it back as credit.
- Access the return premium’s digital trail, which remains after the return premium is voided.
One of the biggest advantages of voiding a return premium over deleting it is the digital trail voiding the return premium leaves behind.
Keeping a digital trail offers several benefits:
- User accountability.
- Event reconstruction.
- Intrusion detection.
- Problem identification.