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Open a policy and select Financials to review the money attached to that policy. The tab is available to roles with the View invoices permission.

Overview

The Overview card has these views:
  • Balances adds up the policy’s active invoices by policy invoice type and line item, in Scheduled, Owed, Paid, and Total columns: Scheduled + Owed + Paid = Total. Scheduled is the unpaid amount on invoices whose scheduled date is still ahead; on that date it moves to Owed. Payments, including early ones, move amounts to Paid. Each column shows Net by default. Show switches between Net, Money In/Out, and Net + Money In/Out. The combined view shows Money In, Money Out, and Net in three side-by-side subcolumns with right-aligned headings and values. Each combined column starts expanded. Use the icon on its right to collapse it to Net or expand it to all three figures; hover over the icon for its action tooltip. A refund counts on the opposite side. Voided and deleted invoices do not count.
  • Earnings shows the policy’s Written (as booked), Earned, and Unearned pricing above an earning curve for the term. Show switches between Total, Premium, Taxes, and Fees. The invoice list below is hidden while Earnings is open.
  • Price History shows how each new-business, renewal, endorsement, cancellation, or reinstatement transaction restated the policy’s pricing. Show switches between Value, Delta, and Value + Delta; expand a row to see its pricing components. The pinned Current row is the latest total.
  • Billing Totals does the same for the policy’s billing: each transaction’s Receivable, Payable, and Total, with the same Show choices. Expand a row to see its line items.
These are views inside the Overview card, so switching between them does not leave the policy’s Financials page.

Invoices and billing

The Invoices card beneath Overview lists the invoices linked to this policy, including voided records. Use its search and filters to narrow the list, or open a row to review the invoice and its payments. A policy invoice’s Invoice # defaults to its Transaction ID, since your company usually issues the invoice; one brought over from another system can carry that system’s number instead. Configure Billing opens the Policy Invoices drawer. The button is disabled unless your role can create or edit invoices, and saving the drawer needs Create an invoice. The drawer brings together:
  • Invoice generation settings, with Generate Invoices, for generating or updating the schedule;
  • Invoice Target, which compares the current invoice target with what is invoiced; and
  • Invoices, where existing invoices can be kept or voided and new invoices and their line items can be added or adjusted.
Select Save invoice changes to apply the plan. Policy invoices are voided or replaced only as a set: here, or in the invoice plan of an endorsement, cancellation or reinstatement quote. The invoice’s own Void & Rebalance… action and its Edit Policy Invoices button open this drawer too. If active invoices no longer balance to the policy’s current pricing target, the Financials tab displays a warning and links back to the same billing editor. A plan that voids every active invoice moves the policy from Full Billing to Invoicing Off, and one that gives a policy with no invoices its first moves it back. Saving either asks you to confirm the move: Save and move applies the plan, and Cancel returns to it without saving. A policy whose billing owes nothing needs no invoices, so its plans never ask. See Configuring policy billing. For the company-wide rollup, see Policy Financials. For claim and incident money, see the Event Financials Tab.