Completing the Transactions Section

The Transactions section is used to document how much money was spent on the claim. Transactions are assigned a type and category, which can be used to filter the records shown in the Transactions grid. Formulas created by your administrator, or Custom Totals, can be used to view the totals for a group of transaction types. If desired, transactions can be split by party and then again by policy.

Prerequisites: You must have the 'Allow Transaction Entry' and 'Allow Transaction Split' functions enabled for your role.

To complete the transactions section:

  1. Open a file.
  2. Scroll to the Transactions section (or use the Contents widget) and click the Add link. The Add Transaction dialog opens.
  3. At a minimum, complete the required fields.
  4. Tip: Use the magnifying glass next to the Paid To field to search for the vendor/supplier to whom the transaction applies. If the vendor does not exist, click the Add Vendor link to create a new one.
  5. Note: For details on splitting the transaction by parties or claim policies, see Splitting Transactions by Party and Policy.
  6. Click Verify to view the insurance tower, which illustrates where money is available; AL-Y = Aggregate Limit Yes (i.e., Aggregate Limit still available) PCL-Y = Per Claim Limit Yes (i.e., Per Claim Limit still available).
  7. (Optional) If you split transactions, click View Balance to run a Loss/Run report to see balances for the selected policies. See View Balance Report.
  8. Click OK. A new row is added to the grid.
  9. Use the View list to display transactions by Transaction Type, Category, Custom Totals, Transactions - by Party, Insurance - by Claim, Party - Transaction Totals, Insurance - by Party or Transaction by Party and Policy. Then, if applicable, use the Filter list to reduce the list even more.