Difference between revisions of "Invoice: Create An Invoice"

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[[Category:Agency Bill]][[Category:Direct Bill]][[Category:Receivables]][[Category:Payables]]
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[[Category:Agency Bill]][[Category:Direct Bill]][[Category:Payables]][[Category:Receivables]]
 
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    <td>[[File:Ic_description_black_24dp.png|link=Newton User Guide#Accounting - Invoice/Billing]] Newton User Guide: [[Newton User Guide#Accounting - Invoice/Billing|Accounting - Invoice/Billing]]</td>
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    <td>[[File:Ic_info_black_24dp.png]] Required Software Version: [[:Category:Release Notes|Spring 2017]]</td>
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    <td>[[File: Ic_settings_backup_restore_black_24dp.png]]  Legacy Instructions Available: [http://wiki.agencysystems.com/mediawiki/index.php?title=Invoice:_Create_An_Invoice&oldid=4508 Click Here]</td>
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<tr style="background-color: #bdbdbd; text-align: center; font-weight:bold;">
 
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     <td>Related Pages</td>
 
     <td>Related Pages</td>
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<td>
 
<td>
 
<ul>
 
<ul>
<li>[[Express Billing]]</li>
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<li>[[Invoice: Edit An Invoice]]</li>
<li>[[Adjust#Invoice_Adjustment|Invoice: Adjust An Invoice]]</li>
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<li>[[Policy & Billing]]</li>
<li>[[Invoice: Delete An Invoice]]</li>
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<li>[[Policy: Create A Policy]]</li>
<li>[[Training 6: Accounting]]</li>
 
 
</ul>
 
</ul>
 
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<li>[[:Category:Agency Bill|Agency Bill]]</li>
 
<li>[[:Category:Agency Bill|Agency Bill]]</li>
 
<li>[[:Category:Direct Bill|Direct Bill]]</li>
 
<li>[[:Category:Direct Bill|Direct Bill]]</li>
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<li>[[:Category:Payables|Payables]]</li>
 
<li>[[:Category:Receivables|Receivables]]</li>
 
<li>[[:Category:Receivables|Receivables]]</li>
<li>[[:Category:Payables|Payables]]</li>
 
 
</ul>
 
</ul>
 
</td>
 
</td>
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Invoices create the policy related [[:Category:Receivables|receivable]] and [[:Category:Payables|payable]] amounts for [[Client Profile|clients]], [[Company Profile|companies]], and [[Producer Profile|producers]].  An invoice transaction can be configured as either [[:Category:Agency Bill|Agency Bill]], or [[:Category:Direct Bill|Direct Bill]].  
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Invoices create the policy related [[:Category:Receivables|receivable]] and [[:Category:Payables|payable]] amounts for [[Client Profile|clients]], [[Company Profile|companies]], and [[Producer Profile|producers]].  An invoice transaction can be configured as either [[Agency Bill]], or [[Direct Bill]].  
  
Any invoice can be created using the [[Express Billing]] interface, however most [[:Category:Direct Bill|Direct Bill]] invoices are created through either [[Commission Builder]] or [[Commission Download]] during the [[Direct Bill: Commission Statement Processing|monthly direct bill commission statement process]].
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Any invoice can be created using the [[Policy & Billing]] interface, however most [[Direct Bill]] invoices are created through either [[Commission Builder]] or [[Commission Download]] during the [[Direct Bill: Commission Statement Processing|monthly direct bill commission statement process]].
  
*For policy invoices, requires '''Other -> [[Security System]] -> AR -> Policy Transaction -> View and Entry'''.
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== Before You Begin ==
*For quote invoices, requires '''Other -> [[Security System]] -> AR -> Quoted Transaction -> View and Entry'''.
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Before you begin, the policy must be [[Policy: Create A Policy|entered in the system]].  All invoice transactions as saved to a policy, [[Policy sequence|specifically to a policy sequence (policy transaction)]]. Each time a policy change occurs, a new policy sequence is added to record the change.  For example, when a policy is endorsed, an [[Policy: Endorse A Policy|endorsement transaction is added to the existing policy]]; when a policy is renewed, a [[Policy: Renew A Policy|renewal transaction is added to the existing policy]].
=== Other Methods or Types ===
 
*'''Cancellation or Return Premium:''' [[Create and Process Return Premium Invoice Due to Cancellation or Endorsement]]
 
*'''Convert from Submission Or Quote:''' Invoices attached to quotes do not affect the general ledgerQuote invoices are entered using the same interface detailed below.  The quote invoice will be converted to a regular invoice when the [[Policy: Convert Quote to Policy|quote is converted to a policy]].  
 
*'''Download:''' Any invoice can be created using the [[Express Billing]] interface, however most [[:Category:Direct Bill|Direct Bill]] invoices are created through either [[Commission Builder]] or [[Commission Download]] during the [[Direct Bill: Commission Statement Processing|monthly direct bill commission statement process]].
 
*'''Installment Billing:''' [[Invoice: Create An Invoice - Installment Billing]]
 
*'''Invoice Wizard:''' [[Invoice: Create An Invoice - Invoice Wizard]]
 
*'''Mortgagee Invoice:''' [[Invoice: Override Payee On Invoice (Mortgagee Invoices)]]
 
*'''Premium Finance:''' [[Invoice: Create An Invoice - Premium Finance]]
 
  
There are two additional specialized invoice types: [[Agency Fee Wizard|Agency Fees]], and [[Late Charges]].
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Access to create invoices on Policies or Binders requires the current operator to have [[Security System|Security System: AR -> Policy Transaction -> View and Entry]] access.  
  
Non-Policy Related vendor payable invoices are paid using through [[Vendor Payables]], not the process documented below.
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Access to create invoices on Quotes requires the current operator to have [[Security System|Security System: AR -> Quoted Transaction -> View and Entry]] access.  
  
=== Regular Invoice Using Express Billing ===
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[[File:Ic_info_black_24dp.png]]  See: [[Security System]] for more information.
[[File:Expressbill-notonfile-notinvoiced.png|thumb|right|350px|Transaction Not Invoiced]] [[File:Expressbill-notonfile-alreadyinvoiced.png|thumb|350px|right|Transaction Already Invoiced]]
 
Before you begin, the policy must be [[Policy: Create A Policy|entered in the system]].  All invoice transactions as saved to a policy, specifically to a policy sequence (policy transaction). Each time a policy change occurs, a new policy sequence is added to record the change.  For example, when a policy is endorsed, an [[Policy: Endorse A Policy|endorsement transaction is added to the existing policy]]; when a policy is renewed, a [[Policy: Renew A Policy|renewal transaction is added to the existing policy]].
 
  
#Load the client on one of the four client tabs.  
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== Create a Regular Invoice  ==
#Select the '''Policy Number''' from the '''Active Policies''' band.  
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For additional invoice entry methods and invoices types, see [[#Create Other Invoice Types|the section below]].
#Select '''Create Item -> Invoice'''.  This will open [[Express Billing]].
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#:The policy sequence cannot be invoiced if an invoice already exists for that sequence. If the policy sequence is already invoiced, [[:Category:Policy Tasks|first create a new policy sequence]]. ''(See images on right.)''
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#[[Client_Keyword_Search#Find_a_Client|Load a Client]] on a [[Client Tab|client tab]].
#Verify the '''Bill Method''' as either [[:Category:Agency Bill|Agency Bill]] or [[:Category:Direct Bill|Direct Bill]]. ''(To change the default for the policy company see the [[Company Profile]])''
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#On the [[Client Tab: Client Dashboard|Client Dashboard tab]] select the (+) next to '''Policies'''. ''(To expand the band by default, see: [[Preferences]])''
#Choose the correct '''Invoice Date'''.  
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#'''Left-Click''' the desired policy number to open the [[Policy Dashboard]]. (Optionally, '''Left-Click''' on the premium value to jump directly to [[Policy & Billing]].)
#Select '''Next''' to create the first invoice line.
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#Select '''Policy & Billing''' within the top toolbar. The last transaction for the policy is displayed.
#:[[File:Expbill-createinv.png]]
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#Verify the transaction is not invoiced. If the policy transaction is already invoiced, [[Policy sequence|first create a new policy sequence]] using the policy menu or the [[Policy Dashboard]].
#Enter the Premium Amount. ''(For values greater than 999.99, the comma '''is not''' required)''
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#:[[File:Billing-notinvoiced.png]]
#:[[File:Expbill-createinv-reg-prem.png]]
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#:<br>
#Verify or change any of the default valuesThe [[Transaction Profile|transaction]], [[Class Profile|class]], [[Company Profile|company]], [[Department Profile|department]] and    [[Producer Profile|producer]] will all default from the policy.
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#Verify the '''Bill Method''' as either [[Agency Bill]] or [[Direct Bill]]. (The default bill method is specified in the [[Company Profile]].)
#Enter the '''Agency Commission''' and '''Producer Commission''' if the defaults are not correct. ''(The '''Agency Commission''' will default from the [[Company Profile]]. The '''Producer Commission''' will default from the [[Producer Profile]].)''
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#Verify the '''Invoice Date'''.  
#:[[File:Expbill-createinv-reg-agyprd.png]]
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#Select '''Next''' to create the first invoice line.  An invoice can have a maximum of seven lines.
#Optionally enter a short '''Description''' which will display for the line on the printed invoiced.  
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#:[[File:Invoice-create-begin.png]]
#Select '''Next''' to add an additional invoice line, such as a fee or tax.  An invoice can have a maximum of seven lines.
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#:<br>
#:If additional lines are created, begin as step #7 above for each additional line.
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#Enter the premium in the '''Amount''' field and press '''<TAB>'''.  (For values greater than 999.99 the comma '''is not''' required).
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#:[[File:Invoice-create-line1-prem.png]]
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#:<br>
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#Verify the invoice line values, pressing '''<TAB>''' to jump to the next field. Each value will default from the policy.   
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#*[[Transaction Profile|Transaction]]
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#*[[Class Profile|Class]]
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#*[[Company Profile|Company]] - It is common to change the invoice company to a parent company that is different than the policy company.
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#*[[Department Profile|Department]]
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#:[[File:Invoice-create-line1-details.png]]
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#:<br>
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#Verify the commission details. ([[Agency Bill (Broker Billed)|Broker Billed commissions are calculated differently]].)
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#*The '''Agency Commission''' defaults from the [[Company Profile]]. The commission can be entered as a percentage of the premium, or a dollar amount.
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#*The '''Producer''' and '''Producer Commission''' default from the [[Producer Profile]]. The commission can be entered as a percentage of the agency commission, or a dollar amount. 
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#*The '''Sub Producer''' will default if it is saved to the [[Client Profile|client]]. Verify the commission which defaults from the [[Producer Profile]].  
 +
#:[[File:Invoice-create-line1-commdetails.png]]
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#:<br>
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#Optionally enter a short '''Description''' which will display for the line on the printed invoice.  
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#Verify '''Invoice Type''' -> '''Regular''' and select '''Next''' to add an additional invoice line, such as a fee or tax.  Repeat this process until all lines are listed.  
 
#Select '''Finish''' when done, then '''Save''' when prompted.   
 
#Select '''Finish''' when done, then '''Save''' when prompted.   
#Select '''Finish or Save''' to finalize the invoice. This action will generate an invoice number, and create all of the [[General Ledger Profile|general ledger]] [[:Category:Receivables|receivables]] and [[:Category:Payables|payables]] for the invoice.  
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#Select '''Finish or Save''' to finalize the invoice.
#:[[File:Expbill-createinv-reg-finalize.png]]
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#:[[File:Invoice-create-save.png]]
#Select '''Print''', '''Email''', or '''Exit'''.
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#:<br>
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#Newton will generate an invoice number and create all of the [[Agency Bill|general ledger receivables and payables]] for the invoice. Select '''Print''', '''[[Email]]''', or '''Exit'''.
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#:[[File:Invoice-create-finished.png]]
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 +
 
 +
[[File:Ic_info_black_24dp.png]]  See: [[Policy & Billing]] for more information.
 +
 
 +
== Create Other Invoice Types ==
 +
There are a number of different types of invoices, such as premium finance invoices, mortgagee invoices, and installment invoices.
 +
 
 +
[[File:Ic_info_black_24dp.png]]  See:  [[Newton User Guide#Accounting - Invoice/Billing|Accounting - Invoice/Billing]] for more information.
 +
 
 +
== Edit an Invoice ==
 +
There are a number of different methods available to edit or adjust an invoice depending on the type of adjustment, and the status of the invoice. Invoices with accounting entries such as client or company payments limit the fields of an existing invoice that can be modified. Invoices in [[Open or Close Month (GL)|closed accounting periods]] cannot be modified. Adjustments to invoice balances can be made using reconcile, new invoices, or with [[:Category:Journal Transaction|journal transactions]].
 +
 
 +
[[File:Ic_info_black_24dp.png]]  See: [[Invoice: Edit An Invoice]] or [[Newton User Guide#Accounting - Invoice/Billing|Accounting - Invoice/Billing]] for more information.

Latest revision as of 17:15, 31 August 2018

Ic description black 24dp.png Newton User Guide: Accounting - Invoice/Billing
Ic info black 24dp.png Required Software Version: Spring 2017
Ic settings backup restore black 24dp.png Legacy Instructions Available: Click Here
Related Pages
Related Categories

Invoices create the policy related receivable and payable amounts for clients, companies, and producers. An invoice transaction can be configured as either Agency Bill, or Direct Bill.

Any invoice can be created using the Policy & Billing interface, however most Direct Bill invoices are created through either Commission Builder or Commission Download during the monthly direct bill commission statement process.

Before You Begin

Before you begin, the policy must be entered in the system. All invoice transactions as saved to a policy, specifically to a policy sequence (policy transaction). Each time a policy change occurs, a new policy sequence is added to record the change. For example, when a policy is endorsed, an endorsement transaction is added to the existing policy; when a policy is renewed, a renewal transaction is added to the existing policy.

Access to create invoices on Policies or Binders requires the current operator to have Security System: AR -> Policy Transaction -> View and Entry access.

Access to create invoices on Quotes requires the current operator to have Security System: AR -> Quoted Transaction -> View and Entry access.

Ic info black 24dp.png See: Security System for more information.

Create a Regular Invoice

For additional invoice entry methods and invoices types, see the section below.

  1. Load a Client on a client tab.
  2. On the Client Dashboard tab select the (+) next to Policies. (To expand the band by default, see: Preferences)
  3. Left-Click the desired policy number to open the Policy Dashboard. (Optionally, Left-Click on the premium value to jump directly to Policy & Billing.)
  4. Select Policy & Billing within the top toolbar. The last transaction for the policy is displayed.
  5. Verify the transaction is not invoiced. If the policy transaction is already invoiced, first create a new policy sequence using the policy menu or the Policy Dashboard.
    Billing-notinvoiced.png

  6. Verify the Bill Method as either Agency Bill or Direct Bill. (The default bill method is specified in the Company Profile.)
  7. Verify the Invoice Date.
  8. Select Next to create the first invoice line. An invoice can have a maximum of seven lines.
    Invoice-create-begin.png

  9. Enter the premium in the Amount field and press <TAB>. (For values greater than 999.99 the comma is not required).
    Invoice-create-line1-prem.png

  10. Verify the invoice line values, pressing <TAB> to jump to the next field. Each value will default from the policy.
    Invoice-create-line1-details.png

  11. Verify the commission details. (Broker Billed commissions are calculated differently.)
    • The Agency Commission defaults from the Company Profile. The commission can be entered as a percentage of the premium, or a dollar amount.
    • The Producer and Producer Commission default from the Producer Profile. The commission can be entered as a percentage of the agency commission, or a dollar amount.
    • The Sub Producer will default if it is saved to the client. Verify the commission which defaults from the Producer Profile.
    Invoice-create-line1-commdetails.png

  12. Optionally enter a short Description which will display for the line on the printed invoice.
  13. Verify Invoice Type -> Regular and select Next to add an additional invoice line, such as a fee or tax. Repeat this process until all lines are listed.
  14. Select Finish when done, then Save when prompted.
  15. Select Finish or Save to finalize the invoice.
    Invoice-create-save.png

  16. Newton will generate an invoice number and create all of the general ledger receivables and payables for the invoice. Select Print, Email, or Exit.
    Invoice-create-finished.png


Ic info black 24dp.png See: Policy & Billing for more information.

Create Other Invoice Types

There are a number of different types of invoices, such as premium finance invoices, mortgagee invoices, and installment invoices.

Ic info black 24dp.png See: Accounting - Invoice/Billing for more information.

Edit an Invoice

There are a number of different methods available to edit or adjust an invoice depending on the type of adjustment, and the status of the invoice. Invoices with accounting entries such as client or company payments limit the fields of an existing invoice that can be modified. Invoices in closed accounting periods cannot be modified. Adjustments to invoice balances can be made using reconcile, new invoices, or with journal transactions.

Ic info black 24dp.png See: Invoice: Edit An Invoice or Accounting - Invoice/Billing for more information.