Reversal of Adjustments

Note: You must have the authority, "Reversal," (Billing group) to process this cash adjustment.

Use Reversal of Adjustments to reverse or back out any of the following adjustments when a mistake is made:

• NSF Payment

• Payment

• Refund

• Transfer Credit From Other Policy

• Waive Miscellaneous Charge

• Waive Service Charge

To reverse any of the above adjustments:

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

2. Select Reversal from the Adjustment combo box.

3. Select the OK button when the confirmation screen displays. Click Yes to the question: "Reverse transaction?"

The Current Premium Outstanding, Total Outstanding and Total Cash Outstanding fields are increased by the amount of the reversal. The Current Premium Paid field is decreased by the dollar amount of the reversal.