1. Open the customer and select the policy containing the binder transaction you want to replace. To select a policy, click anywhere on the policy row except the policy link.

2. Click Actions > Policy > Binder Bill. The Binder Bill form displays.

3. Select the binder transaction to be replaced (confirmed).

• If you want to replace the binder transaction with a new transaction, select the New option in the Replace With Transaction section and then choose the transaction type (e.g., New Business, Renew Policy, etc.) from the list. After you enter a Description, click OK.

• If you want to merge the binder transaction with an existing policy (e.g., Downloaded policy image), select the Existingoption in theReplace With Transactionsection and then choose the policy from the list. After you enter aDescription, clickOK.

4. Clicking OK on the Binder Bill form opens the Policy form. Review the form to verify that all sections are in agreement with the order to the company and what was received. Edit amounts in the Transaction Premiums / Billing section per the amounts on the policy documents, if they are different.

5. If Transaction Premium amounts are different than the binder billing amounts, you can create an invoice for the difference, or void the original invoice and re-invoice the correct premium.

6. Repeat steps #3-5 for each binder transaction on the current policy that needs replacing.

See the Binder Bill Form Selections section later in this topic for more details.

Field	What is this?
What Binder transaction are you replacing?	All binder transactions for the current policy appear in this list. Select the transaction you want to replace.
Replace With	Transaction Option What is this? New Select the New option and choose the appropriate policy transaction from the list. This option creates a new policy transaction, and movesall billed/unbilled premium/non-premium from the original binder transaction to the new transaction. Example: This is most frequently used when a binder policy transaction is created prior to receiving the policy. Upon receipt of the policy, the appropriate policy transaction needs to be created. Use Newto create the new transaction, and move the billed/unbilled, premium/non-premium from the original binder transaction to the new transaction. Description: The selected transaction description appears, but can be changed. This Description prints on the invoice, statement, and other reports. It also appears in the Customer and other views throughout AMS360. Existing Select the Existing option and choose an existing non-binder policy transaction from the list. This option moves all billed/unbilled, premium/non-premium from the original binder transaction to the selected policy transaction. Example: This is most frequently used when a binder policy transaction is created prior to receiving the policy. When the company binds the policy, they send the transaction to the agency via download. Use Existing to move all billed/unbilled, premium/non-premium from the original binder transaction to the downloaded policy transaction. Description: The selected transaction description appears, but can be changed. This Description prints on the invoice, statement, and other reports. It also appears in the Customer and other views throughout AMS360.

A Binder invoice was issued to an agency customer for $10,000 in P & C premium, at 10% agency commission, 50% to agency producer. Binder billing done with no change in premium. The original invoice was billed to the insurance company.

Upon replacing the binder transaction, the contra amount originally posted to the 11213-Deferred A/R Agency Business account, is reversed and posted to the appropriate company payable, commission payable, commission income, and commission expense accounts. Credits are represented in parenthesis.

This example is based on the Binder Post Method=Post Expense After Replaced on Later of Effective or Replace Date.

GL Account	Amount	GL Account	Amount
Original Binder Invoice Transaction
11211  A/R - Agency Business	10,000.00	11213-Deferred A/R Agency Business	(10,000.00)
Replace Binder Invoice Transaction
11213-Deferred A/R Agency Business	10,000.00	21111-Account Payable to Insurance Companies	(9,000.00)
		40111-Agency Commission P&C Insurance Companies	(1,000.00)
		21131-Commissions Payable Agency Business	(500.00)
		51110-AB Commission Expense Agency Business	500.00