Recalculate Future Installments

Note: You must have the authority, "Recalculate Future Installments" (Billing group) to do this transaction.

The Recalculate Future Installments transaction is used when a policy has an outstanding balance and has installments. This amount can be spread over the future installments.

To process a recalculation of future installments:

1. Access the policy, and click Billing from the Quick Links Tree View.

2. Click Transaction on the Statement Display screen.

3. Select Recalculate Future Installments.

4. On the Recalculate Future Installments screen, select the Accept button.

5. Answer Yes to the question: "Issue transaction?"

6. Click OK to the confirmation: "Future Installments have been recalculated?"

Diamond automatically recalculates the outstanding amount equally across the remaining installments.