Set up billing statements (invoices)

Throughout the course of business, you can use various billing statement types. See Table 1 for more information about the billing statement types, where each billing statement is used, and what situations trigger the creation of the billing statement. You can set up and customize your billing statements with BriteCore.

Table 1: Billing statements.

Billing statements

Billing statements will display the following information:

  • Date the invoice or billing statement was issued.
  • Contact information, such as:
    • The bill whom’s mailing address.
    • Named insured(s) listed on the policy.
    • Agency’s address and phone number.
  • Policy term’s effective and expiration dates.
  • Last documented account activity.
  • A billing summary.
  • The insured’s premise(s).
  • A billing schedule.
  • The return stub.

Initial and Renewal Billing Statements

When Initial and Renewal Billing Statements are issued on a policy term, the bill whom will select the billing schedule plan that will be used throughout the policy term. The plan option is displayed in the return stub section of the billing statement. The Billing Summary section of the Initial and Renewal Billing Statements will display the Premium balance. You can find Initial and Renewal statements in the Account History section of the Billing Overview tab on the Accounts Receivable screen. These billing statements are also stored in the Attachments screen of the policy.

Figure 1: View of an example Initial Billing Statement. The Initial and Renewal Billing Statements display the same information.

Installment Billing Statement

An Installment Billing Statement is issued when the next installment is due. The Billing Summary section of the Installment Billing Statement will display the Premium amount due along with the Installment Fee amount owed. The return stub will provide a payment information section, but won’t provide a section for the bill whom to select the billing schedule plan, as the policy is already assigned to a billing schedule. You can find past or current Installment Billing Statements in the Account History section of the Billing Overview tab on the Accounts Receivable screen. Future Installment billing statements are stored in the Attachments screen of the policy.

Figure 2: Example Installment Billing Schedule.

Amended Billing Statement

An Amended Billing Statement is issued after an endorsement is committed that increases a policy’s premium. The Billing Summary will display the original Premium, Custom Fees, and the new Premium that comes from the committed endorsement. Like Installment Billing Statements, Amended Billing Statements the return stub provides a section for payment information but doesn’t provide the option to select the billing schedule plan. You can find Amended Billing Statements in the Account History section of the Billing Overview tab on the Accounts Receivable screen. These statements are also stored in the Attachments screen of the policy.

Figure 3: Example Amended Billing Statement.

The setting Send an Amended Invoice even when the endorsement amount is negative setting in Settings > Modules > Policies > Policy Lifecycle > Billing > Options allows you to enable the creation of a negative Amended Invoice that is created when an endorsement reduces the premium on a policy.

Note: This setting was created for a specific client and is accessible on the UI, but it is not recommended for use by the broader client community.

Cancellation Billing Statement

The Cancellation Billing Statement is generated when a policy cancels. The Cancellation Billing Statement displays the Billing Schedule for the entire policy term and the annual premium. The Billing Summary, Invoice Date, and Due Date don’t appear on the Cancellation Billing Statement since the policy is canceled.

Figure 4: Example Cancellation Billing Statement.

Equity Billing Statement

An Equity Billing Statement can be created when a manual underpayment is made. The Billing Summary section displays the remaining Premium. You can find past and current Equity Billing Statements in the Account History section of the Billing Overview tab on the Accounts Receivable screen. Future Equity Billing Statements can be found in the Attachments screen of the policy.

Figure 5: Example Equity Billing Statement.

Combined Billing Statement

A Combined Billing Statement generates when two or more linked policies are billed at the same time. An itemized list will display the Premium amount due for each policy billed.

Figure 6: Example Combined Billing Statement.

Customize billing statements

You can customize billing statements by adding text blocks and signature blocks to the stock deliverable. Text areas can be added to the front page and subsequent pages of a billing statement and signature blocks can be added to only subsequent pages of a billing statement. To customize billing statements:

  1. Navigate to Settings > Deliverables > Mass Deliverables.
  2. From the State dropdown list, select the state you’re customizing the billing statement for.
  3. Locate the billing statement you want to customize and select the pencil icon. The Mass Deliverable Setup dialog box will open.
  4. In the Fixed Components section, you will see a Front Text Area box. Type additional information you want to include on the front of this deliverable.

    Note: The text box supports dynamic text and decorative tags. To learn how to use dynamic text and decorative tags, select the Help link above the Front Text Area box.

  5. In the Additional Components section, you can add a text area, a signature block, or any combination of the two. There is no limit to the number of text areas or signature blocks you can add to a billing statement.
    1. To add a text area, select the green + next to Add Text Area.
      1. Type the additional information you want to include. If the text you’re typing is long, consider selecting Allow Text Area to Break If Necessary. Selecting this will allow the text to break with the page and will prevent text errors on the printed deliverable.

        Note: The text box supports dynamic text and decorative tags. To learn how to use dynamic text and decorative tags. Select the Help link above the Text Area box.

    2. To add a signature block, select the green + next to the Add a Signature Block.
      1. In the Optional Introductory Blurb box, type an introductory message for the signature block. This isn’t required.
      2. In the Signature Label/Type box, type the type of signature that is required, as Authorized Representative.
      3. If you want to use an uploaded signature graphic, select Use Uploaded Signature Graphic.
  6. When you’re finished, select Save.

Text area examples

The text area(s) on a billing statement can be used to notify the named insured about:

  • Late fees and when cancellation can occur.

Thank you for your business. If you have any questions about this billing, please feel free to contact us or {agency} at {agency_phone}.

Late payments will have a billing fee of $5.00 added to the bill.

Failure to make payment by the due date of {due_date}, will result in cancellation for Non-Payment of Premium.

  • New accepted payment methods.

    The Company is now accepting CREDIT CARD payments through our website: www.WEBSITE.com or by contacting your local agency office and providing them with the necessary information. Both ways are secure and all of your information remains encrypted for your protection.

  • Auto-pay information.

    Save time and money by signing up for our Direct Debit Payment program which allows your premiums to be deducted directly from your bank account without any billing fees. Please complete a Direct Debit Payment Agreement form and start saving today.

  • Payment plan types.

    ANNUAL PAYMENT PLAN

    Total premium is due on the policy effective date.

    FOUR PAYMENT PLAN

    25% is due on the policy effective date.

    25% is due 2, 4, and 6 months after the policy effective date.

    SIX PAYMENT PLAN -for policies with over $1,500 of Premium

    25% is due on the policy effective date.

    15% is due 2,4,6,8 and 10 months after the effective date.

  • Upcoming renewal date.

    Your policy renewal payment is now due. To ensure continuous coverage and avoid cancellation, please remit {amount_due} by {effective_date}.

  • Changes made to the policy premium, due to an endorsement.

    This Amended Billing Statement is being generated due to a change to your policy which affects your policy premium. We have adjusted your policy billing schedule accordingly. This Amended Billing Statement replaces all previously received billing statements. The amount is due on the date indicated on this statement.

General settings

Advanced settings can impact information displayed on a billing statement along with when and how a billing statement is generated. The following advanced settings can impact billing statements:

  • equity-invoice-fee: This advanced setting allows you to set a fee amount that will be charged on an Equity Billing Statement (Invoice).
  • endorsement-invoice-fee: This advanced setting allows you to set a fee amount that will be charged on an Amended Billing Statement (Invoice).
  • allow_clients_to_waive_unbilled_fees: When enabled, clients will be able to waive fees on unbilled invoices (future billing statements).
  • auto_pay_include_endorsement: When enabled, policies that are set up on auto-pay will be able to issue payment on an Amended Billing Statement or the endorsement invoice.
  • generate-invoice-for-bill-whom-mortgagees: When enabled, the billing statement (invoice) is generated for mortgagees listed as the bill whom.
  • offset-invoice-dates-for-non-business-days: When enabled, the invoice due dates and cancellation dates fall on business days, as determined in the system-wide calendar.
  • show-change-of-address-all-invoices: This advanced setting allows you to display the Change of Address form on an Initial or Renewal Billing Statement (Invoice) or on an Installment Billing Statement (Invoice).
  • create_cancellation_statements_with_account_balance: When enabled, the Cancellation Billing Statement will only generate when a policy cancels and there is an account balance due.
  • cancel_invoice_bill_for: This advanced setting allows you to determine which premium type the Cancellation Billing Statement should bill for: adjusted, earned, or unearned.