Policy installment

1. Type: Seamless will based on your policy activity generate the suitable payment types

2. Order: The invoice reference in the Accounting system, you can use this reference to find your invoice in the Accounting system

   1. For instance, your installment when booking in the Accounting system will have the order reference as 100 (item 8 ), but all the orders will be in one invoice with the reference 50 => the invoice will show “50”

3. Total: The total installment amount and the collected currency. This is the final amount that the customer would need to pay, including tax, commission, etc.

4. Tax: The tax amount that the customer would need to pay in an installment

5. Commission: The sales commission amount that the customer would need to pay in an installment

   1. Please notice that the product commission won’t be showing in the installment details

6. Period: The installment period, will be defined based on the payment frequency of your policy, the policy start date, and the finance settings

7. Due date: The due date of an installment. When the due date is met, then Seamless will treat the installment as an overdue. You can refer to Finance Settings to see the due date calculation rule

   1. Sometimes, you might notice that your installment is highlighted in yellow. This indicates that the payment is overdue.

8. Booking ref: The order reference in the Accounting system, you can base on this reference to find your order line in the Finance provider system (Accounting or Billing)

9. Status: The status of the installment. Seamless will check the payment status from the 3rd party to update the installment status. There are some statutes in Seamless

There are multiple types of Installment in Seamless”

1. Normal: the installment that is generated when the issuing policy, or when the policy premium is changed due to MTA.

2. Adjustment: when a policy premium is changed and the paid installment must be adjusted, then the adjustment installment is generated

   1. For instance, when the policy is fully paid, and the policy premium is increasing → the adjustment installment will reflect the add-on premium so the finance people can collect the amount correctly

3. Settlement: when a policy is terminated, then the settlement installment will be generated to reflect the amount that needs to be collected or refunded

There are multiple statuses of Installment in Seamless”

1. None: the installment is new, is not frozen, and can be adjusted or removed

2. Extracted: the installment is frozen and ready for the next step

3. Export confirmed: the installment is frozen and cannot be changed. When you meet this status, it means the installment is already frozen and is extracted successfully from Seamless to the 3rd party for invoicing or collecting payment.

4. Export cannot be confirmed: the installment is frozen and cannot be changed. However, if Seamless is not connected to the 3rd party billing or accounting provider, it can’t export the installment.

5. Export failed: the installment is frozen and cannot be changed, and is export failed due to any issue

6. Paid: the installment amount is collected, which is confirmed by the Accounting system or Billing provider system.

On your paid installment, there will be an action button to show the payment details

In the payment details dialog, you can view the payments that have been made on the installment. For each payment type, the fields would be different.

1. Accessing the policy detail

   1. Seamless portal → Accounts → your customer account → Policies tab → your selected policy

2. Navigate to the section where you can manage your installment payments.

3. Find the specific installment for which you wish to override the due date.

4. Click on the edit button at the installment you want to modify (please contact our support team when you cannot see the button in your tenant).

5. Pick your new due date and confirm the changes.

6. Seamless will show you a confirmation message to acknowledge the change.

After override the due date, your Accounting system will re-calculate the booking date

Seamless won’t capture product commission separately in installment details

Only instalment that doesn’t have extract (as the 3rd installment in the picture) can be changed