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>
 
<li>[[Adjust#Invoice_Adjustment|Invoice: Adjust An Invoice]]</li>
 
 
<li>[[Invoice: Edit An Invoice]]</li>
 
<li>[[Invoice: Edit An Invoice]]</li>
<li>[[Invoice: Delete An Invoice]]</li>
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<li>[[Policy & Billing]]</li>
<li>[[Training 6: Accounting]]</li>
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<li>[[Policy: Create A Policy]]</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>
 
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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]].
  
 
== Before You Begin ==
 
== Before You Begin ==
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]].
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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]].
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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.
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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.
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[[File:Ic_info_black_24dp.png]]  See: [[Security System]] for more information.
  
*For policy invoices, requires '''Other -> [[Security System]] -> AR -> Policy Transaction -> View and Entry'''.
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== Create a Regular Invoice  ==
*For quote invoices, requires '''Other -> [[Security System]] -> AR -> Quoted Transaction -> View and Entry'''.
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For additional invoice entry methods and invoices types, see [[#Create Other Invoice Types|the section below]].  
  
== Regular Invoice Using Express Billing ==
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#[[Client_Keyword_Search#Find_a_Client|Load a Client]] on a [[Client Tab|client tab]].
[[File:Expressbill-notonfile-notinvoiced.png|thumb|right|350px|Transaction Not Invoiced]] [[File:Expressbill-notonfile-alreadyinvoiced.png|thumb|350px|right|Transaction Already Invoiced]]
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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]])''
For additional invoice entry methods and invoices types, see [[#Other Methods or Types|the section below]].
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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]].)
#[[Client Tab#Find a Client|Load a client]] on one of the [[Client Tab|client tabs]].
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#Select '''Policy & Billing''' within the top toolbar. The last transaction for the policy is displayed.
#Select the (+) next to '''Policies'''. ''(To expand the band by default, see: [[Preferences]])''  
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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]].
#'''Left-Click''' the desired policy number to open [[Policy Express]].  
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#:[[File:Billing-notinvoiced.png]]
#Select '''[[Express Billing]]''' in the top toolbar.  
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#:<br>
#: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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#Verify the '''Bill Method''' as either [[Agency Bill]] or [[Direct Bill]]. (The default bill method is specified in the [[Company Profile]].)
#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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#Verify the '''Invoice Date'''.  
#Choose the correct '''Invoice Date'''.  
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#Select '''Next''' to create the first invoice line.  An invoice can have a maximum of seven lines.
#Select '''Next''' to create the first invoice line.
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#:[[File:Invoice-create-begin.png]]
#:[[File:Expbill-createinv.png]]
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#:<br>
#Enter the Premium Amount. ''(For values greater than 999.99, the comma '''is not''' required)''
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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).
#:[[File:Expbill-createinv-reg-prem.png]]
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#:[[File:Invoice-create-line1-prem.png]]
#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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#:<br>
#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 line values, pressing '''<TAB>''' to jump to the next field. Each value will default from the policy.   
#:[[File:Expbill-createinv-reg-agyprd.png]]
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#*[[Transaction Profile|Transaction]]
#Optionally enter a short '''Description''' which will display for the line on the printed invoiced.  
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#*[[Class Profile|Class]]
#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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#*[[Company Profile|Company]] - It is common to change the invoice company to a parent company that is different than the policy company.
#:If additional lines are created, begin as step #8 above for each additional line.
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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. 
 +
#*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>
 +
#Optionally enter a short '''Description''' which will display for the line on the printed invoice.  
 +
#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.
  
==Edit or Adjust An Existing Invoice==
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== Create Other Invoice Types ==
[[Invoice: Edit An Invoice]] (Edit the invoice lines '''without''' creating additional accounting entries.)
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There are a number of different types of invoices, such as premium finance invoices, mortgagee invoices, and installment invoices.  
  
[[Adjust#Invoice_Adjustment|Invoice: Adjust An Invoice]] (Adjust the balances on an invoice '''with''' additional accounting entries.)
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[[File:Ic_info_black_24dp.png]]  See:  [[Newton User Guide#Accounting - Invoice/Billing|Accounting - Invoice/Billing]] for more information.
  
[[Invoice: Delete An Invoice]]
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== 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]].
  
== Other Methods or Types ==
+
[[File:Ic_info_black_24dp.png]]  See: [[Invoice: Edit An Invoice]] or [[Newton User Guide#Accounting - Invoice/Billing|Accounting - Invoice/Billing]] for more information.
To create a standard invoice, see [[#Regular Invoice Using Express Billing|the section above]].  
 
{|class="wikitable"
 
! Type
 
! Description
 
|-style="vertical-align:top;"
 
|Cancellation or Return Premium
 
|[[Create and Process Return Premium Invoice Due to Cancellation or Endorsement]]
 
|-
 
|Convert from Quote
 
|Invoices attached to quotes do not affect the general ledger.  Quote 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]]
 
|-
 
|Agency Fees
 
|[[Agency Fee Wizard]]
 
|-
 
|Late Charges
 
|[[Late Charges]]
 
|-
 
|Client Payment Fees
 
|[[Cash Payment Fee Wizard]]
 
|-
 
|Vendor Payables
 
|Non-Policy Related vendor payable invoices are paid using [[Voucher Transaction|Vouchers]].
 
|}
 

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.