The Billing tab on the agent dashboard provides a comprehensive view of a policy's finances. This section allows you to monitor payment statuses, view processed transactions, verify billing methods, and manage outstanding balances.
Authorization Form Status
When a policy's payment method is set to EFT or Credit Card, this section will display whether the required Payment Authorization Form has been received. If the status shows Not Received, you must sign and submit a form to avoid disruption. Read more about Authorization Forms.
Billing Tab Breakdown
Summary
The Summary area provides an immediate snapshot of the policy's current financial standing:
- Account Overview: Displays the outstanding balance, current payment status, and upcoming due date.
- Pay Now Button: If a balance is due, you can initiate an immediate payment using the Pay Now button. If the policy is fully up to date, this will simply display a Paid status.
- Billing Method: Reflects the active, effective billing method currently on file for the term.
Balance Due Notifications
- Red Icon: A red notification icon will appear next to the Billing tab name to alert you of an outstanding balance. This icon remains visible anytime a balance is due, even if the actual due date is in the future.
Running Billing History
This ledger serves as a transparent financial timeline for the policy, tracking:
- All premium-bearing endorsements and policy changes.
- A complete itemized record of all processed payments, refunds, or voided transactions.
Duplicate & Overpayments
Double payments commonly occur when both the policyholder and their mortgage company submit payments for the same term balance.
- Processing: Funds are automatically applied to a policy as they are received. Funds are applied to any remaining balance first, and then any excess is refunded to the policyholder using the refund timeline matrix.
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Ledger Tracking: Duplicate payments and subsequent refunds or credit adjustments will appear as itemized entries in Policy Billing History in ReTool.
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