PDF The Receipt Writer Rev 4

[Pages:12]The Receipt Writer

A Website Service Provided by Prime Rate Premium Finance Corp, Inc.

The Receipt Writer

A Web Receipting Feature

TABLE OF CONTENTS

The Receipt Writer ...................................................................................................................................... 2 Initial Setup................................................................................................................................................ 2 Transmittal Procedure ............................................................................................................................... 2 Down Payment Receipts ........................................................................................................................... 2 Monthly Payments ..................................................................................................................................... 2 Payments to Carrier................................................................................................................................... 2

Filling out a Receipt .................................................................................................................................... 3 Description of Fields .................................................................................................................................. 3 Remit To ................................................................................................................................................ 3 Reference .............................................................................................................................................. 3 Transaction ............................................................................................................................................ 3 Type ....................................................................................................................................................... 3 Comments.............................................................................................................................................. 3 Amount Received................................................................................................................................... 3 Print........................................................................................................................................................ 3 Finished ................................................................................................................................................. 3 View Comm Ded .................................................................................................................................... 3 Cancel .................................................................................................................................................... 3

The Receipt Writer Menu ............................................................................................................................ 4 Review Receipts........................................................................................................................................ 4 Editing Receipts ..................................................................................................................................... 4 Produce Transmittals................................................................................................................................. 5 Cash Drawer .......................................................................................................................................... 5 Receipt Log............................................................................................................................................ 5 Transmittals ........................................................................................................................................... 5 Close-Out Receipts................................................................................................................................ 5 Review Transmittals .................................................................................................................................. 6 Sorting.................................................................................................................................................... 6 View Detail ............................................................................................................................................. 6 Reprint.................................................................................................................................................... 6 Review Prime Rate Transmittals ............................................................................................................... 7 Description of Fields and Options ............................................................................................................. 7 Date Range............................................................................................................................................ 7 Records / Amount .................................................................................................................................. 7 Transmittal # .......................................................................................................................................... 7 View Detail................................................................................................................................................. 8 Result Messages ................................................................................................................................... 8

Receipt Settings .......................................................................................................................................... 9 Receipt Transaction Codes ................................................................................................................... 9 Payment Type Codes ............................................................................................................................ 9

Manage Receipt Companies .................................................................................................................... 10 Edit/Delete ............................................................................................................................................... 10 Description of Fields ............................................................................................................................ 10 Add New .................................................................................................................................................. 11 Description of Fields and Options........................................................................................................ 11

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The Receipt Writer

A Web Receipting Feature

The Receipt Writer

The Receipt Writer allows you to generate receipts for any of your transactions with Prime Rate as well as carriers and/or other companies. Create down payments receipts directly from our Web Quoting system as well as monthly payment receipts to Prime Rate or to Carriers from the insured account display. In addition, when you post your transmittals to Prime Rate you will be able to immediately access information about how the payment was processed.

The Receipt Writer generates receipts in PDF format so they can be printed, faxed, emailed or saved (based on the capabilities of your system). Reports are also generated in PDF format for alternate delivery methods. You will need to have Adobe Acrobat Reader version 5 or above to utilize this feature.

The Receipt Writer lets you create your own list of companies that you write receipts for, so it's not limited to generating Prime Rate payments. Additionally, you can add your own custom transaction codes and methods of payment if your needs are not met by the defaults. An ACH summary is also included on the transmittals for any company you are on ACH with.

Initial Setup

There's no initial setup required to start using The Receipt Writer as long as the default transaction codes and payment types meet your needs. Companies related to contracts financed with Prime Rate are added to your list of "Receipt" companies automatically when you print the first receipt to them. Other companies not related to contracts financed with Prime Rate can be manually added at any time.

Transmittal Procedure

Printing a receipt does not in itself perform any updating of the account information. Your receipt log can be reviewed during the day and corrections can be made before you are finally ready to close out the current receipt book. Internal processes at Prime Rate that affect the status of an account occur during the evening, so it is not necessary to transmit each payment as it is receipted.

Performing the transmittal process at the end of the day provides you with the reports necessary for remitting to the companies for whom you've receipted payments. Prime Rate receipts are processed during the close-out procedure and you will be able to review the results of the close-out immediately.

Down Payment Receipts

Receipts for down payments are selected at the point of printing a finance agreement on our website. All information is transferred to the receipt data entry screen. You will just need to fill in the method of payment and amount receipted.

Monthly Payments

A Receipt option is available while you're on the account detail screen for an insured. All information is transferred to the receipt data entry screen. You will just need to fill in the method of payment and amount receipted.

Payments to Carrier

A Rec (receipt) option appears at the end of each policy line when viewing the Policies on an account. The Carrier name and Policy Number is transferred to the receipt. All you need to fill in is the type of payment, method of payment, amount and amount receipted. Note: The carrier is added to your list of Receipt Companies automatically if it does not exist.

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The Receipt Writer

Filling out a Receipt

A Web Receipting Feature

The receipt contains the insured name and allows for entering multiple transactions. Each transaction could be for different accounts as well as to different companies.

Description of Fields

Remit To

Your list of "Receipt Companies" is available by clicking on the drop-down box under the Remit To heading. If the company is not listed, see the section on Adding Receipt Companies.

Reference

This field will be filled out for you if you are coming from a new contract or account inquiry. It represents the reference number needed by the company for processing.

Transaction

This drop-down list contains most of the commonly used transactions used for finance agreements and policy payments. See the Adding New Transaction Codes section beginning on Page 9 if you require additional codes not shown in the default listing.

Type

This drop-down list contains most of the commonly used payment methods such as Cash, Check and Check Forward. See the Adding New Payment Type Codes section beginning on Page 9 if you require additional payment methods not shown in the default listing.

Comments

Any comments entered will print on the receipt.

Amount Received This is a required field used to calculate the Change due amount.

The following options are available on the Receipt Entry screen:

Print

Stores the receipt information and then generates a receipt in PDF format. The receipt can be printed, saved or just closed (if you do not need a printed copy). After printing, the Cancel option changes to Finished.

Finished

Appears in place of Cancel after Print is selected. Exits the Receipt Entry screen.

View Comm Ded Displays the Commission Deductions in the Amount column. Where the amounts can be edited. The caption changes to View Tx Amt to change back to the transaction amount.

Cancel

Abandons the receipt entry without storing any of the information.

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The Receipt Writer

The Receipt Writer Menu

The Receipt Writer Menu option is accessible from the Main Menu

A Web Receipting Feature

Review Receipts

This option presents a listing of receipts that are either Active (not transmitted) or Inactive (transmitted). Changing between the lists is accomplished by using the Viewing drop-down option to select the desired view. Options located at the bottom of the list allow you to page through the receipts and to return to the Receipt Writer Menu. Editing Receipts Clicking on the Edit option allows you to view the receipt and change any entry on the receipt except the amount. If the amount is wrong, you must void the receipt and generate a new one. While in edit mode, options to Print and Void the receipt are available. Note: The option to Print the receipt must be taken in order to have any changes stored. This will produce the receipt as a PDF for re-printing.

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The Receipt Writer

A Web Receipting Feature

Produce Transmittals

This option produces a list of any receipt companies for whom you have receipted money, but have not yet closed out. On the Pending Transmittals screen, you can choose companies to generate transmittal reports on and/or close-out receipts. "Close-out" means you are going to reconcile the receipts and remit the money receipted for the company (ies). You can do this at any point in the day and then continue to write new receipts for the same company, if you wish, for a later transmittal.

The following options are available on the Pending Transmittals screen:

Cash Drawer

Produces a summary report of transaction types for each user. This can be used for balancing cash drawers. Important: Each user must have their own login ID for this to work.

Receipt Log

Produces a report in order by Receipt Number that includes all companies checked on your list. Totals for each payment method are included at the end of the report.

Transmittals

Produces a report for each company checked on your list. Reports are separated by company and contain total amounts for the different payment methods. Also, if you're on ACH with the company, an ACH amount will be printed. Note: The ACH amount depends on a payment method being used that has been flagged as an `ACH' method. Please refer to the Payment Type Codes section beginning on Page 9 for more information on how to indicate an ACH flag on a payment method.

Reports are generated as a PDF document that can be printed and/or saved.

Note: You should always make it a practice to print and/or save the reports each day.

Close-Out Receipts

Flags all receipts for the companies checked on your list as being "transmitted". Use this option at the point in the day when you are ready to reconcile receipts and prepare remittances for each company.

Note: For receipts taken on Prime Rate accounts, the close-out procedure also notifies Prime Rate of the payments. Accounts are updated accordingly. See the Review Prime Rate Transmittals on Page 7 for additional information about this process.

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The Receipt Writer

A Web Receipting Feature

Review Transmittals

This option generates a list of all transmittals created from the close-out process. As shown below, each item in the list refers to a specific company with the total amount and number of receipts contained on the transmittal.

Sorting

The list can be sorted by clicking on the Date, Transmittal# or Remitted To column heading. Clicking on the same heading a second time will change the order from descending order to ascending order and vice versa.

View Detail Clicking on a transmittal will produce a detail list of receipts included on that transmittal.

Reprint

Reprints the transmittal currently being viewed.

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The Receipt Writer

A Web Receipting Feature

Review Prime Rate Transmittals

As mentioned earlier,receipts taken on Prime Rate accounts are processed during the close-out procedure and the account information is updated immediately. Reviewing the Prime Rate Transmittals will let you verify that payments were processed without error. Closing out Prime Rate receipts is also referred to as a Data Transfer Session.

Description of Fields and Options

Date Range Records / Amount

Transmittal #

By default, the last five transfers are displayed. You can change the date range by clicking on either date and choosing alternate starting and/or ending dates. Click Search after specifying the starting and ending date range to execute a new search.

The first Amount column and the Records column indicate what was submitted to Prime Rate for processing. The second Amount column and the Processed column indicate the status of what was received and processed by Prime Rate. When the values shown in Amount/Record matches the values shown in Amount/Processed, all receipts were processed exactly as they were submitted. Different values could indicate that some receipts were not able to be processed or that that there was a discrepancy between the amounts submitted and the amounts posted. This can be checked further by viewing the details of the Data Transfer Session. Clicking on a link in the Transmittal# column enables you to view a listing of the receipts that were included on that transmittal. See next page for details.

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