Note: You must have the authority, "EFT Return" (Billing group) to do this adjustment.
For EFT Pay Plan policies, the billing adjustment EFT Return allows users to return up to the amount of cash received on the policy. The return is then added to the EFT file and any balance that is created will be spread to the future installments.
To process an EFT Return:
Access the policy, and click Billing from the Quick Links Tree View.
From the Adjustments combo box, select EFT Return.
Amount to Adjust: Enter the dollar of the amount (up to the amount of cash received on the policy).
Click Accept.
The amount of the return is added as a line on the Statement Display screen, "EFT Return." A corresponding line, "Premium spread over future installments" is added with the amount of the return.