You must have appropriate security to access and change payment plans.
Show Me
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Click Toolbox > System Administration > Payment Plans. The Payment Plans form appears.
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Click New on the Payment Plans section title bar. The New Payment Plan form appears.
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Enter the total Number of payments the plan contains (maximum is 99) and the number of Months between payments. Click OK.
For example, enter (4) as the number of payments, and (3) as the number of months between payments for a quarterly plan. Click OK.
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Type a unique Plan Name. A warning message is received if the plan name has already been used.
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Enter a unique Plan Code. This code cannot duplicate one already in the system.
If codes are provided when setting up company download, be sure to enter the appropriate code in this field.
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Complete the Non-specific company rules as to rounding and whether remainder amounts (total premium divided by # of installments) should be added to the first installment (default) or to the last installment.
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Verify the calculations in the Installments sub-section and edit as necessary. The total of the % of Premium column must equal 100% for the plan to be saved.
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If fees are associated with the installments in the plan, click New on the Fee Setup sub-section. Select a Charge Description from the list. The charge type must exist in Billing Charges and Credits Setup to be available for selection from this list.
Then, choose whether the fee, included in this payment plan, should be available for All Companies, or selected Single Companies.
The fee will apply to the first installment or be divided among installments based on how the charge or credit was setup in Billing Charges and Credits Setup.
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Use the Company Specific Rules sub-section to assign specific rounding and difference rules for selected companies.
In this way it is not necessary to set up separate payment plans for multiple companies if all that is different is the rounding methods and how they apply any calculation differences.
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When you have finished adding Payment Plans, click Save and Close.
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Click Toolbox>System Administration>Payment Plans. The Payment Plans Setup form appears.
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Select the Payment Plan you want to change and click Edit. The Payment Plan you selected appears for editing. Any field not grayed-out is available to be changed. You may also add, edit or delete in the Installments, Fee Setup, and Company Specific Rules sub-sections.
The Plan Name and Plan Code can only be edited for Non-Permanent (user-defined) plans.
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Make your changes and click Update. The Payment Plans changes are added to the list.
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When you have finished editing Payment Plans, click Save and Close.
If changes are made to payment plans, future installments not yet processed are subject to the edited plan features.
Adding Payment Plans