Embedded Files
Invoices/Payments💰
Invoices/Payments💰
Understanding the Invoice Tab [🎥]
Agency Bill
Agency Bill
New business Creating an Invoice (Agency Bill) - Handling new business policies, setting up invoices, understanding the percentage of commission, taxes and fees (agency fees). Mention that finance companies can fund us too!
When paying carrier refer to the net amounts (minus commission, we retain it). Also handling commissions for companies like coverwhale, or Johnson and Johnson
Interfacing with finance companies🤝
Cancellations - Setting up cancellation invoices, and handling return premiums with customers or finance companies.
When paying carrier refer to the net amounts (minus commission, we retain it)
Endorsements- Processing endorsement invoices with additional premium or return premium Handling refunds or additional premium with customer or finance company.
When paying carrier refer to the net amounts (minus commission, we retain it)
Payment Processing Notification Task
What do you do when you receive this? How do you know what carrier to pay?
Installment Bill - In installment bill, the policy is still agency bill but the carrier will bill us with the monthly installment due including the endorsements made on the policy. We need to collect from the insured every month and retain our commission before paying the carrier.
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