2.5.140 Feature Release Notes

Manage Refunds on a Policy

If a refund is generated for a policy and there are un-invoiced future charges on the policy term, refund amounts will automatically be evenly allocated to the remaining un-invoiced charges of the policy term.

• For details on the new Refund feature, see the Managing Refunds on a Policy section.

Generate Pending Charges WS Update

This feature enables the user to reuse negative charges resulting from the Policy transactions against the unpaid charges of the policy term so that unpaid charges of the policy can be paid using the refund amount and generate the premium refund charges if there is any refund amount left after the adjustment.

• For details on the Generate Pending Charges feature, see the Managing Refunds on a Policy section.

On-Demand Invoice for Credit Invoice

This feature enables users to generate On Demand Invoices for the Credit Invoices for the premium refund charges so that the negative charges can be moved to BTP On Account balance immediately.

• For details on the On-Demand Invoice for Credit Invoice feature, see the Managing Refunds on a Policy section.

GL Entries for Refund Placeholder

This feature enables users to generate the GL entries when moving the credit invoice amount to the BTP On Account Balance.

• A new Debit entry has been created for the refund amount when Batch Receipt is of type Cash Receipt for the transaction in the Account Receivable Account.
• A new Credit entry has been created for the refund amount applied to Batch Receipts of type Cash Receipt when a refund is generated for the transaction in the Advance Premium Account.

• For details on the GL Entries for Refund Placeholder feature, see the Managing Refunds on a Policy section.

Update Reports to support Credit Invoice

This feature enables users to update the Billing reports so that Credit Invoice or the Receipts Details will show which were created as a part of Refund feature.

• For details on the Update Reports to Support Credit Invoice feature, see the Managing Refunds on a Policy section.

Attaching the Premium refund To Policy Term - Cancellation and ERP Endorsement

This feature enables the user to link the Premium Refund generated from the Cancellation transaction with policy term so that any outstanding invoices can be paid using the premium refund amount.

• For details on the Cancellation and ERP Endorsement feature, see the Managing Refunds on a Policy section.

Daily Invoice Generation changes for Credit Invoicing

This feature enables users to generate the Credit invoice and move the negative charges to BTP On Account Balance so that it can be used to pay any other outstanding unpaid charges of the policy term.

Respect "Invoice Due" Setting When Using Apply when Policy Term is effective

The Apply when Policy Term is effective check box in the General Settings - Billing screen has been moved from the Billing Schedule panel to the Automatic Account Balance Allocation panel. In addition, for policy terms with a future effective date, the Apply when Policy Term is effective check box no longer automatically invoices the charges using the On Account Balance and no longer prevents policy term invoice generation.

Enhance World Sanctions List Capability to Allow for Scanning of Individual Sources

The CheckComplianceHit function has been enhanced, and now includes the ability to scan sub-lists (where applicable) of a Sanction and Compliance list rather than the entire collection.

For the function CheckComplianceHit(p0, p1, p2, p3, p4, p5, p6), the code for the sub-list should be placed in p6. The contents of the list should be formatted as List Code:Score|List Code:Score|…

Note that if sub-lists are not specified, then all sub-lists of the compliance list are included in the scan.

For information on the codes, please contact your Customer Success Representative.

Ability to create Distributor as BTP record without having to create policies

This feature enables the user to Enhance the Billing ImportBillToParty web service method to set Distributor as Bill to Party before creating or submitting the new policy to support multiple Billing Entity.

Ability to create Distributor as Bill To Party from the Distributor profile page

This feature will enhance the Bridge application with the ability to create a Bill To Party from the Distributor profile page where multiple Billing Entities are present.

Changes to General Ledger Accounts for Billing Refunds

This feature removes the GL entries of the Clearing account for the Cancellation and Reinstatement event to support the Premium Refund feature.

• For details on changes to General Ledger Accounts for Billing Refunds, see the General Ledger Accounts section