Note: If your company is using suspense accounts, the system setting, "Suspense Account," in the Accounting folder must be set to "True" (Enable). Additionally, users must have the authority "Suspense Account" to access and process payments / adjustments to a suspense account.
Posting payments and adjustments to a suspense account allows you to process any payments that cannot be directly associated with an existing policy in Diamond and capture the data regarding these payments for reporting purposes. Prior to posting any payments or adjustments, you need to establish a suspense account (or accounts) in Company Configuration Tool / Billing: Suspense Account.
From the Home Page, select the Accounting menu option and click Suspense Account.
The Suspense Account screen loads showing "All" suspense payments. You may choose to view "Pending Record," "Processed" or "Deleted" payments by making a selection from the Status combo box. Additionally, the Suspense Account screen displays with the name of the bank entered defaulting in the Suspense Account combo box. If this is not the right one, make a selection from the combo box.
Click Make a Payment:
Amount: Enter the amount being posted to the suspense account.
Payment Method: Required; select one from the combo box. (Note: If Payment Method is Credit Card, the lower part of the screen opens for Credit Card information; make all entries.)
Payor: Required; click the Payor button.
Check Date: Defaults with the system date; change if necessary.
Check Number: Enter if posting by check.
On the Payor Information screen, enter the name of the individual / entity payment is being received from; defaults to "Personal Name" but can be changed to an entity by selecting the Commercial radio button.
Policy Number: Optionally enter a policy number. (Note: Diamond does not validate this information.)
Select Save.
Click Accept. Payment is applied to the suspense account selected and shown in the Grid View on the Suspense Account screen.
Red Circle: Used to post an NSF. Select a Reason from the combo box, and click OK.
Reversal (Rotated Blue Arrow): Select to reverse a transaction amount and a reason for reversing the amount.
Transfer (Two Way Arrow): On the Transfer Payment screen, select your options and enter an amount. Click OK when done.
Edit Payment: For "Pending" suspense account payments only. Click the Pencil icon (Edit) next to the payment. The system returns the Edit Payment screen; make any changes necessary and click Accept. The edited payment is returned to the Grid View on the Suspense Account screen.
Delete: For "pending" suspense account payments only. Click the "X" (Delete) next to the payment. The system returns a confirmation: "Delete selected suspense payment?" Answer "OK." The payment is removed from the Grid View.
Let's take a second to go back to entering a policy number on the Payor Information screen. If you know the policy number the suspense amount will be applied to, you may enter it in the Policy Number field. After saving the payor information, accepting the amount posted (listing it on the Suspense Account screen) and closing the suspense account activity:
Access the policy number.
Click Billing Info from the Quick Links Tree View.
At the bottom of the screen, select the Suspense button.
Diamond takes the "suspended" amount and holds it against the policy specified. If you do not wish to apply the payment, click Close. If payment should be applied, click Process.
The system applies the amount to the policy, subtracts from the amount due and writes a line to the Statement Display screen.