Posting a Zero Disbursement

A zero disbursement can be done to clear open items on a client’s account.

Note: The preferred method of clearing open items on a client's account is client reconciliation.

Important: User rights must be granted to post a $0 disbursement; see Disbursements Security.htm

Scenario: Client is invoiced for full payment of new business BOP policy. Full payment of BOP policy received on client’s account, (unapplied to invoice resulting) in a residual amount.

Endorsement processed on BOP policy resulting in a return premium.  Client is invoiced for full payment of new business Auto policy.  Payment received on client’s account, (unapplied to invoice) resulting in a residual amount.  (Amount received was Auto premium minus return premium from BOP endorsement).  The disbursement process can be used to clear open items for the client in one transaction process.

Client level Invoice Summary view:

Client level Unassigned Payments view:

Receive Payment tab summary view:

Note: Amount received on clients account displays as a Residual amount in receive payments tab summary view.

To Process a Zero Disbursement

1. On the Primary Menu, click ORGANIZATION.
2. Click the territories tab.
3. Click the Details icon of the appropriate territory.
4. Click the accounting tab.
5. Click the transactions tab.
6. Click the disbursements tab.
7. Select appropriate bank account from the drop down list.
8. Click [Add New Disbursement] link.  

9. Select Client as entity type from the drop-down list.
10. Enter at least two characters of the name of the client you wish to disburse to and click Search.
11. Select the client in the search results and click OK.

12. Complete disbursement header as appropriate and enter description.

Note: To avoid a check number from being assigned, the Disbursement Method should be set to EFT.

13. Click on the Invoices link in Quick Navigation.
14. Select all applicable invoices to pull into the disbursement.  

Scenario:

• Invoice # 4171 full pay BOP policy.  
• Invoice # 4174 return premium - BOP endorsement.
• Invoice # 4187 full pay Auto policy.

15. Click Pay All Selected link under disbursement header.

Note: Selected items are calculated into the disbursement when the Revised Balance column is zero and the Credit Assigned column shows an amount.  The Details  icon can be used to assign partial credit to an invoice.

16. Click on Payments Received link in Quick Navigation.
17. Select applicable payments received on clients account to pull into the disbursement.
18. Click the Save link under Disbursement header to activate Pay All Selected link.

19. Click Pay All Selected link under disbursement header.

Note: Selected items are calculated into the disbursement when the Balance column is zero and the Return Amount column shows an amount.  The details icon can be used to apply a partial amount of a receipt into the overall disbursement.

20. Click Save link under disbursement header.

Note: Notice Disbursement header is updated and reflects a $0.00 disbursement amount.

21. Click Post link
22. Click OK to post zero disbursement.  Disbursement summary view shows zero amount posted.

Related Topics

Client Reconciliation

Disbursements Security