Note: You will need the authority, "Generate Refund Check," (Billing group) to issue this adjustment.
A refund may be used in case of over payment on a policy by an insured.
To apply a refund:
Access the policy, and click Billing from the Quick Links Tree View.
Select Refund from the Adjustment combo box.
Select either N / A or Force Manual Refund from the combo box. If Force Manual Refund is selected, the Check Number field is disabled. Choosing this reason now allows you to issue a refund, up to the amount of total cash on the policy, even if the policy does not have a credit balance.
Click Accept.
When the Refund screen displays:
Enter the appropriate amount for the refund in the Amount to Refund field.
Select the Reason for Refund from the combo box.
Enter the company's check number, if necessary, in the Check Number field.
Select the Check Payee from the list of available options in the combo box.
Select the Accept button.
The Total Cash Outstanding field is increased by the amount of the refund. The Total Outstanding, Current Premium Outstanding and Current Premium Overpaid fields all decrease by the dollar amount of the refund.