Payee Codes

Use the Payee Codes page to record information about the insurance companies to whom your agency makes payments. The system references the Payee Code when you pay the insurer.

You can associate one Payee Code with multiple Insurer Codes.

You must complete the Payee Codes file before you create Insurer Codes.

The Payee Codes page includes a Commission Table grid.

Use the Commission Table to add, edit, or delete "standard" new and renewal commission percentages for each agency-billed or company-billed coverage that your agency writes for an insurer. The percentages entered on the Commission Table pre-fill to the policy and to the subsequent invoice record.

If you invoice a coverage to which you do not want to apply the "standard" commission rate, you can override the commission rate using the Invoices to Clients Page - Invoice Tab.

How to access this page

From the Sagitta Home page:

1. Click Other.
2. Click Maintenance > Accounting > Payee Codes. The Payee Codes page appears.

Fields on this Page

Payee Code - the code for the company that receives payment. Maximum field length is five alphanumeric characters.

Date Off - the system date the payee code is no longer active.

D/O Remarks - any comments you want to enter about why the payee code is no longer active.

Benefits Export field – click to check the field. The payee code will be sent to BenefitPoint when the Save button is clicked:

• When a new staff is entered

• When there is a change to the staff name only

When the field is not checked, the payee code will not be sent to BenefitPoint

Payee Name - the name of the company exactly as you want it to appear on Accounts Current and reports. Pay special attention to capitalization, proper spacing, etc. Required.

Initial Date - the date your agency's contact with this payee was first implemented.

Contact - used for checks and remittance information sent to a specific person. Enter the contact name in this field.

Agency Code - the agency code assigned by this payee.

Address #1  - the first line of the payee's address as it would appear in a business letter.

Payment Method - used to calculate and display the due date for all this payee's invoiced transactions. Use the drop-down list to select a valid payment type.

Make sure you complete this field correctly because it affects your Account Current. You can select Account Current or Company Statement methods already established in the Credit Terms file, in accordance with your agreement with this payee.

Address #2 - the second line, if any, of the payee's address as it would appear in a business letter.

No. of Days - for the payment method selected, the number of days after invoicing, or becoming effective, the invoice item should appear on the Account Current. If you selected the ACC payment method, this field is not accessible.

Zip Code - the payee's zip code. The city and state pre-fill after you enter the zip code. You may use the Lookup icon to select a valid zip code.

City - the payee's city or town. This field pre-fills automatically if you enter a zip code.

State - the payee's two-character state code. This field pre-fills automatically if you enter a zip code.

Phone#1/Ext. - the payee's primary phone number and extension.     

Phone#2   Ext. - the payee's secondary phone number and extension, if applicable.

Fax - the payee's fax number. Do not include and punctuation (for example, hyphens or parentheses). 

Email Addr - the payee's Email address.

Carrier Producer Sub Code - enter a Carrier Producer Sub Code. You can use the Search feature to select an existing code. This is an 8 character alphanumeric field.

A verify file will be created called CARRIER.PRODUCER.SUBCODES. This file is available through the Generic Code Maintenance functionality so you can create any codes needed.

For more information, see Adding or Updating Generic Code Tables.

Description - a 30 character or less free-form field to enter a description of the selected code. The description appears in the Payees Lookup dialog box.

MGA (Managing General Agent) - an agent who provides coverage for another agency's customer. This typically occurs when an agency does not represent a company that provides the coverage the agency's customer needs. It also may be that an agent isn't licensed in a state, but has business to write for the state. The agent would place the business with the MGA, who is licensed in the state.

The MGA flag is for Prevail Premium Finance users only.

Global Payee Code - assign Global or Division/Department designations to the Payee Code. When accessing the Policy page and specified policy-level Invoicing pages, this field data will determine which Payees may be seen and entered based on the personalization.

Initially, every Payee record will automatically be set up with a Yes in the Global Payee field to maintain unrestricted access. You will need to personalize the Payees before any restrictions will occur.

Enter Yes to allow unrestricted use.

Enter No to prevent access to the Payee Code in any designated field.

No. of Division/Department Designation Lines section, enter Division and Department pairs in the line item set to limit access only as specified in any designated field.

• Enter no designations to indicate that a payee is completely restricted without regard to division or department.
• Enter designations to identify the division/department combinations for which the payee is allowed. When adding Division/Department Designations, valid division/department combinations are as follows:

Valid Division/Department Combinations	Description
All divisions and all departments	The limitations specified in the Limit New, Limit New Date, Limit Renew, or Limit Renew Date fields will apply globally to all divisions and departments for that payee.
A specific division and all departments	The limitations specified in the Limit New, Limit New Date, Limit Renew, or Limit Renew Date fields will apply to all the departments in a specific division for that payee.
All divisions and a specific department	The limitations specified in the Limit New, Limit New Date, Limit Renew, or Limit Renew Date fields will apply to all divisions and a specific department for that payee.
A specific division and a specific department	The limitations specified in the Limit New, Limit New Date, Limit Renew, or Limit Renew Date fields will only apply to a specific division/department combination for that payee

Limit New - indicates whether a payee is allowed to issue new policies or rewrite new policies with a policy status of NEW for the specified division/department combination.

• Enter No or leave the field blank to indicate that these transactions are allowed.
• Enter Yes to indicate that these transactions are not allowed.

The Limit New Date field indicates the date on which the Limit New restriction begins.

• Enter a valid date, past or future, on which the restriction begins.
• Leave the field blank if the Limit New restriction applies without regard to the date.

Limit Renew - indicates whether a payee is allowed to renew policies, remarket policies, or rewrite policies with a policy status of REN for the specified division/department combination.

• Enter No or leave the field blank to indicate that these transactions are allowed.
• Enter Yes to indicate that these transactions are not allowed.

The Limit Renew Date field indicates the date on which the Limit Renew restriction begins.

• Enter a valid date, past or future, on which the restriction begins.
• Leave the field blank if the Limit Renew restriction applies without regard to the date.

Payee Responsible for Filings – identifies whether the Payee or Agency is responsible for tax filing for Surplus Lines:

• When set to Yes, the Payee is responsible for filing

• When set to No, the agency is responsible for filing.

This is used during Invoicing and on the Accounts Payable on File Report.

Tax/Fee Payee – identifies whether the Payee is a Tax or Fee Payee for Surplus Lines. This is used on the Accounts Payable on File Report.

Payee Commission Lines (Commission Table)

Type - The commission percentage type. Select:

• Standard - to apply a "standard" commission percentage for all dollar amounts.
• Flat Rate - to apply a flat rate (dollar amount) commission.
• Grading Scale - to "grade" the commission percentage based upon the total policy premium. For example, a commission rate could be 5% for invoice amounts from $0 through $50,000, 7% from $50,001 through $100,000, and 10% from 100,000 through $999,999.

If you select G (Grading Scale) in this field, you must complete the From Amt and To Amt fields, as well as the A/B New%, A/B Renew%, C/B New%, and C/B Renew% fields.

Std - click Yes if this is the standard or default commission rate for this payee. Otherwise, click No.

• Yes – the default line that prefills with STD as the Coverage Code.

• No – complete either the Division, Department, Insurer, or the Coverage field. You can enter data in all fields, but you must enter data in at least one of these two fields.

Division – the division where you want to apply the commission

Department – the department where you want to apply the commission

Insurer - the insurance company where you want to apply the commission percentages.

Coverage - the code for each coverage where you are applying a commission percentage.

From Amt - applies only if you selected G - Grading Scale in the Type field. The beginning dollar amount to which you want to apply a graded commission percentage. For example, if you want to apply the graded commission percentage to invoice amounts from $0 to $50,000, enter 0 in the From Amt field.

To Amt - applies only if you selected G - Grading Scale in the Type field. The ending dollar amount to which you want to apply a graded commission percentage. For example, if you want to apply the graded commission percentage to invoice amounts from $0 to $50,000, enter 50,000 in the To Amt field. The maximum field value is $999,999.99

Agency Bill New% - for the insurer/coverage shown, the commission the producer receives on agency-billed new business. If you selected F (Flat Rate) as the Type, enter a dollar amount, not a percent.

Agency Bill Renew% - for the insurer/coverage shown, the commission the producer receives on agency-billed renewals. If you selected F (Flat Rate) as the Type, enter a dollar amount, not a percent.

Company Bill New% - for the insurer/coverage shown, the commission the producer receives on company-billed new business. If you selected F (Flat Rate) as the Type, enter a dollar amount, not a percent.

Company Bill Renew%- for the insurer/coverage shown, the commission the producer receives on company-billed renewals. If you selected F (Flat Rate) as the Type, enter a dollar amount, not a percent.

Starting - the date the commission percentage takes effect. You must set the starting date for current companies to a date several years previous to your agency's live date to ensure that the correct commission pre-fills on older policy terms.

Ending - the date the commission percentage ends.

The Starting and Ending dates apply to both agency and company-billed policies, based upon policy effective dates.

Buttons - Top of Page

Click	To
Save	save the Payee Codes Maintenance page.
Quit	exit the Payee Codes Maintenance page without saving any data.
Copy	copy the data entered to a new payee code record. The system prompts you to enter a new ID. Enter the new payee code and click OK to complete the Copy process. You can then modify the new record, as needed.

Print Options Menu Bar

Adobe - send a report of all existing Payee Codes to Adobe. The following prompt appears:

Print schedule of active items only?Click Yes or No. If you click Yes, the report prints for active payee codes only. If you click No, the report prints for all payee codes, including those with a Date Off.

Buttons - Commission Table

Click	To
Add	add a new commission percentage to the Commission Table.
Delete	remove the highlighted line from the Commission Table.
Edit	change commission percentage information for the highlighted line.
Excel	export a copy of the Commission Table.
Print	print a copy of the Commission Table.

Buttons - Grading Commissions Table

Click	To
Edit	view or change any pre-filled data on the highlighted Graded Commission line.
Update Grading Grid	update the Grading Commissions Table with any new data entered.
Update Commissions Grid	move the data from the Grading Commissions Table to the Commission Table.
Cancel	exit the Grading Commissions Table without saving any changes.