Manually issue a return premium on a policy with a credit

You can manually issue return premiums on a policy with a credit.

To manually issue a return premium from a policy:

  1. Access the policy with a credit and navigate to the Accounts Receivable screen.
  2. On the Billing Overview tab in the Balance Details box, select Issue Credit. The Issue Credit dialog box will open.

    Note: The Issue Credit button will only appear on the Accounts Receivable screen if the policy has a credit.

  3. In the Manually issue a credit for box, type the amount of credit you’re issuing.
  4. In the Reason box, type the reason for the credit.
  5. Select Submit. When the credit is finished processing, a banner will appear at the top of the screen that says:

    Credit saved successfully.

The submitted credit will populate on the Return Premium screen. Access the Return Premium screen by navigating to Policies > Payments > Return Premium. To export the return premium, see Export return premium. To transfer the return premium, see Transfer return premium.

Usage consideration

  • Validation ensures a return premium can’t be generated for more than the current credit balance. For example, if the credit balance is currently $50, the return premium can’t be issued for $55.
  • If an account has a future invoice, ensure the return premium is in the amount of the Trailing Balance credit listed on the final invoice of the term. If there aren’t future invoices, issue the return premium for the amount listed as the credit on the Accounts Receivable screen.
  • If an account has a future Cancel Date, the issued return premium won’t export until the cancellation effective date.