Release Date: August 17, 2021
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.