Accounting Tab
The Accounting tab is the centralized location for managing claim financials and exposures within a claim. From this tab, users can:
- View a claim-level financial summary
- Create and manage exposures
- Record reserves, payments, and recoveries
- Review transaction history
The Accounting tab supports both high-level financial oversight and detailed exposure-level financial management within a single workflow.
View Accounting For
At the top of the Accounting tab is the View Accounting For dropdown.
This dropdown allows users to switch between:
- Claim Level – Displays a consolidated, read-only summary of financial activity across all exposures tied to the claim.
- Individual Exposures – Displays detailed financial information and editable financial activity for a selected exposure.
Users can toggle between exposures at any time by selecting a different exposure from the dropdown.
Claim-Level View
When Claim Level is selected, the Accounting tab displays a consolidated financial summary across all exposures associated with the claim.
This view is read-only and intended for auditing, reporting, and oversight purposes.
What’s Displayed
The claim-level view includes rolled-up totals for:
- Reserve
- Payment
- Total Incurred
- Recovery
- Net Incurred
Financial totals are grouped by category, such as:
- Loss
- Legal
- Adjusting
The screen also includes:
- Recovery summaries
- Consolidated transaction history across all exposures
Common Use Cases
The claim-level view is commonly used for:
- Reviewing total financial exposure on a claim
- Auditing claim financial activity
- Verifying all exposures are financially accounted for
- Reviewing recoveries and net incurred totals prior to claim closure
Notes
- The claim-level view is read-only.
- Financial transactions cannot be added directly from this view.
- Exposure financials automatically roll up into the claim-level summary.
Create a New Exposure
To create a new exposure:
- Navigate to the Accounting tab.
- Select + Create New Exposure.
- Select the applicable policy coverage.
- Optionally associate the exposure with:
- A claimant or party
- A risk or loss item
- Complete the form and save.
Once created, the exposure becomes available within the View Accounting For dropdown.
Exposure-Level View
Selecting an individual exposure from the View Accounting For dropdown opens the exposure-level financial view.
This view allows users to manage reserves, payments, recoveries, and transactions tied specifically to that exposure.
The exposure-level view contains:
- Coverage & Exposure Information
- Loss Details
- Recoveries
- Transactions
Coverage & Exposure Information
This section displays policy and exposure-specific details.
Coverage Information
Displays:
- Coverage filed against
- Coverage limit
- Deductible amount
- Deductible override options (if enabled)
Exposure Information
Displays optional associations tied to the exposure, such as:
- Risk or loss item
- Claimant or party
Loss Details
The Loss Details section tracks financial activity for the exposure across categories such as:
- Loss
- Adjusting
- Legal
For each category, users can manage:
- Reserves
- Payments
- Total incurred amounts
Totals automatically calculate and update as changes are made.
Adding Payments
To record a payment:
- Select + Add Payment.
- Complete the payment details.
- Save the transaction.
Built-in validations prevent payments from exceeding available reserves.
Recoveries
The Recoveries section tracks expected and received recovery amounts for categories such as:
- Reinsurance
- Subrogation
- Salvage
For each recovery category, users can view or manage:
- Expected recovery
- Amount recovered
- Total recovery
Adding Recoveries
To add a recovery:
- Select + Add Recovery.
- Enter the recovery details.
- Save the transaction.
Recovery totals automatically update throughout the Accounting tab.
Transactions
The Transactions section provides a ledger of all financial activity associated with the selected exposure or claim-level view.
Users can filter transactions by:
- Date range
- Transaction type
- Category
- Status
- Payment method
Each transaction record includes:
- Transaction date
- Transaction type
- Classification
- Amount
- Category
- Modified by
- Available actions
Depending on permissions and transaction type, certain transactions may also be voided.