Note: You must have the authority,"Access End Period," (User Setup: End of Period Group) to access and run any of the End of Period Processing functions.
Diamond's End of Period Processing consists of three (3) update programs:
End of Day: This process is used to update numerous types of transactions, such as: Futures, Cancellations, Daily Premium, Legal Cancellations, Installments, Legal Cancellations and Claims. Depending on the volume of business a company processes during the day, the length of time the End of Day Processing program runs varies.
End of Month: End of Day Processing must be run on the last day of the month...prior to running End of Month. The End of Month Program changes the date from the previous month to the new month. Additionally, if it is the last day of the calendar year (e.g., 12/31/2012), End of Month must be completed prior to End-of-Year Processing. End of Month Processing must be run on the last day of each month. It is important to note that when End of Month starts, the EOP Running Flag is set to "True." This means that no processing of any type (e.g., Policy Processing, Billing, Claims, etc.) will take place until after EOM has successfully completed. Once EOM has completed, the EOP Flag is set to "False." Depending on the volume of business transacted during the current month, the length of time End of Month runs may vary among Diamond customers.
End of Year: End of Day and End of Month Processing must be run on the last day of the calendar year prior to running End of Year. The End of Year program is the process that rolls the date from the current year to the new year. The End of Year Processing program is designed to summarize data for the current year and ready the system to begin processing business for the new year. It is important to note that when End of Year starts, the EOP Running Flag is set to "True." This means that no processing of any type (e.g., Policy Processing, Billing, Claims, etc.) can take place until after EOY has successfully completed. Once EOY has completed, the EOP Flag is set to "False." Depending on the volume of business transacted during the year, the length of time End of Year runs may vary among Diamond customers.