Tropics’ Billing and Accounts Receivable brings flexibility and functionality to billing and collecting insurance premium. Bill exposures separately or combined. Bill by location or bill by group of locations. Bill for exposures in one state or across multiple states.
Enjoy the flexibility, functionality and convenience of a web-based system for your billing and accounts receivable.
SUMMARY OF BILLING AND ACCOUNTS RECEIVABLE
Exercise Your Options
Tropics’ Billing and Accounts Receivable supports standard financial operations such as entering and posting payments, allocating payments to invoices and line items, voiding or reversing transactions, attaching notes and printing statements.
Process financial transactions individually or through scheduled batches. Define, edit, change or modify payment plans with proper authorization access. Create automatic billing schedules and adjustments whenever a policy is issued, endorsed or audited.
- Provides real-time online billing and payment information
- Automates self-reporting based on periodic payroll
- Supports easy and convenient online bill pay
- Allows payment prior to policy issuance or renewal
- Rolls transactions into one simple credit card style statement
- Automates cash receipts through lock box file processing
- Integrates commission payments based on premium receipts
- Issues refunds and applies credits (optional)
- Provides a precise aging of accounts receivable
This optional module provides a comprehensive set of tools for managing all aspects of delinquent and cancelled accounts. Tropics automates A/R reconciliation and allows users to create and maintain non-standard payment arrangements, track and assign collection processes to outside agencies (with outside agency fee allowance), and maintain a database of any collection contacts. Through integration with the document management system, dunning notices and other correspondence can be generated based on user-defined settings. Detailed activity logs summarize production of past due notices, payment reminders, and manual or automated diary entries.
The Email Notification System is and optional mass background emailing system that creates and send emails based on pre-defined email templates. Emails may be issued to external and internal recipients, based on defined rules, without user intervention.
This system is used in automating many of the required notifications such as “Bill is Ready to Pay” “Payment Reminder”, “Past Due Notice, “Self Audit Reminder”, “Termination Notification”, and many other types of notifications.