Product: APROSQL, APro for Windows
Description:

Financing (ACCRUAL Basis) - Finance Company Pays Carrier – Automatic Financing

Solution:

Enter the entire policy premium and non premium items normally. If necessary to invoice the down payment see the article on Manual Financing.

  1. When collecting the down payment enter this payment in the Down Payment field of the policy, adjusting the First Payment date to the date of the payment and checking the box at the bottom of the policy to Apply A/R to Premium Finance Company. Click OK and regenerate the policy if necessary.

  2. From the Adjustment Offset window select the 20XX account for the Company or Broker on the policy. Click OK.

If the financing covers multiple policies, needs adjustment, or was short paid see the article on Manual Financing.

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