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Tran Code 0110, Insurance Commission Credit

Navigation:  Teller System > Transactions > Loan Transactions > Loan Transaction Codes >

Tran Code 0110, Insurance Commission Credit

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This transaction is run automatically by the system during monthly amortization. This transaction credits the amortized insurance commission amount into the specified General Ledger account. The General Ledger account used for insurance commissions is entered on the GOLD Services > General Ledger > Setup G/L and Commissions screen. Each insurance type can use a different General Ledger number.

 

For more information concerning this process, see the Commission Information on the Loans > Insurance > Policy Detail screen.

 

This transaction is only used for institutions that pay a commission for sold insurance policies.

 

GOLDPoint Systems Only: Afterhours Update Function 80 (Amortize Insurance Commissions) is used to amortize insurance commissions. Set the Cycle field to "CYC31B."

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