When you write off premium on a policy, you will also be required to provide a reason. Your reason will improve the audit trail and will be stored in the policy’s Notes screen.
To write off a premium:
- Navigate to and select the policy you want to write off the premium for, and then select Accounts Receivable.
- On the Accounts Receivable screen, on the Billing Overview tab, in the Balance Details section, select Write-Off Premium.
- In the Write-Off Premium dialog box, in the Amount to write off box, type the amount you want to write off.
- Select the Reason for premium write off dropdown list, and then select the appropriate option.
Note: If you select Other, you will be prompted to provide the reason.
- Select Submit, and then a confirmation message will appear at the top of the screen.
Note: When you write off the premium, the amount and reason for the write-off will be stored in a note on the policy's Notes screen, which you can view by searching for premium write-off on the Notes screen.