Users can change a policy's installment deduction day only on those policies having installment bill as a Pay Plan. This does NOT include Credit Card or Payroll Deduction policies. You CANNOT change these deduction dates.
Changing an installment bill policy's due date can be done two (2) ways in Diamond:
Deduction Day Button: If the system setting, "Allow Install Bill Deduction Day Change," in the Billing folder is set to "True" (Enable), a Deduction Day button is displayed on the Policy Control screen (Billing Info section). When an installment bill Pay Plan is chosen, the button becomes "Active." Clicking on the button returns the Installment Deduction Day screen. The day displayed is the current day of the calendar month the deduction will occur. You can enter a new deduction day and click OK. Once the policy is rated and saved, the new day becomes effective.
Change Installment Deduction Day: This is a Billing transaction that can be done on a policy that is issued.
To change an issued policy's deduction day:
Click Billing from the client's policy on the Quick Links Tree View.
On the Statement Display screen, click Transaction then Accept.
When the Edit Deduction Day screen returns, enter the new calendar day for the deduction and click Save.
This action not only changes the installment deduction day, but it also automatically recalculates the installments as well.
And...on a final note...if the deduction day entered is greater than the last day of the current month, (e.g., February has only 28 days and 30 is entered), the system sets the date to the highest day in the month (28, 30 or 31).