Splitting Transactions by Party and Policy

A percentage of the transaction amount can be assigned to one or more parties or insurance policies. This process is known as splitting a transaction. The Split by Parties button only appears once a party has been defined with the Show party in transaction section box checked (Completing the Parties Involved Section). Similarly, the Split by Claim Policies button only appears when at least one insurance type (policy year, policy tier or policy) has been assigned to the claim.

To split transactions by party and policy:

  1. Create a new transaction (Completing the Transactions Section) or modify an existing one (shown here).
  2. Scroll to the bottom of the dialog and click:
    1. Split by parties – to view a list of eligible parties (Completing the Parties Involved Section), as shown, or use Split Equally to divide the amount between all parties.
    2. Note: Only parties that have the Show party in transaction section box checked appear.
    3. Split by claim policies – to view the list of policies that have been assigned to the claim.
  3. Type the dollar amount into the first column or the percentage into the second. The other column is computed.
  4. Caution! An error will display if the sum of the splits does not match the transaction Amount.
  5. If desired, click the Split link to distribute the amount between the party’s assigned insurance policies. This link only appears for parties that have been assigned insurance.
  6. Click OK.
  7. If desired, select Transactions - byParty from the View list to view the transaction splits.