The Receipt Writer

A Website Service Provided by Prime Rate Premium Finance Corp, Inc.

The Receipt Writer A Web Receipting Feature

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T A B L E O F C O N T E N T S The Receipt Writer ......................................................................................................................................2

Initial Setup................................................................................................................................................2 Transmittal Procedure ...............................................................................................................................2 Down Payment Receipts ...........................................................................................................................2 Monthly Payments .....................................................................................................................................2 Payments to Carrier...................................................................................................................................2

Filling out a Receipt ....................................................................................................................................3 Description of Fields ..................................................................................................................................3

Remit To ................................................................................................................................................3 Reference ..............................................................................................................................................3 Transaction ............................................................................................................................................3 Type .......................................................................................................................................................3 Comments..............................................................................................................................................3 Amount Received...................................................................................................................................3 Print........................................................................................................................................................3 Finished .................................................................................................................................................3 View Comm Ded....................................................................................................................................3 Cancel ....................................................................................................................................................3

The Receipt Writer Menu............................................................................................................................4 Review Receipts........................................................................................................................................4

Editing Receipts .....................................................................................................................................4 Produce Transmittals.................................................................................................................................5

Cash Drawer ..........................................................................................................................................5 Receipt Log............................................................................................................................................5 Transmittals ...........................................................................................................................................5 Close-Out Receipts................................................................................................................................5

Review Transmittals ..................................................................................................................................6 Sorting....................................................................................................................................................6 View Detail .............................................................................................................................................6 Reprint....................................................................................................................................................6

Review Prime Rate Transmittals ...............................................................................................................7 Description of Fields and Options .............................................................................................................7

Date Range............................................................................................................................................7 Records / Amount ..................................................................................................................................7 Transmittal # ..........................................................................................................................................7

View Detail.................................................................................................................................................8 Result Messages ...................................................................................................................................8

Receipt Settings ..........................................................................................................................................9 Receipt Transaction Codes ...................................................................................................................9 Payment Type Codes ............................................................................................................................9

Manage Receipt Companies ....................................................................................................................10 Edit/Delete ...............................................................................................................................................10

Description of Fields ............................................................................................................................10 Add New ..................................................................................................................................................11

Description of Fields and Options........................................................................................................11

The Receipt Writer A Web Receipting Feature

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The Receipt Writer The Receipt Writer allows you to generate receipts for any of your transactions with Prime Rate as well as carriers and/or other companies. Create down payments receipts directly from our Web Quoting system as well as monthly payment receipts to Prime Rate or to Carriers from the insured account display. In addition, when you post your transmittals to Prime Rate you will be able to immediately access information about how the payment was processed. The Receipt Writer generates receipts in PDF format so they can be printed, faxed, emailed or saved (based on the capabilities of your system). Reports are also generated in PDF format for alternate delivery methods. You will need to have Adobe Acrobat Reader version 5 or above to utilize this feature. The Receipt Writer lets you create your own list of companies that you write receipts for, so it’s not limited to generating Prime Rate payments. Additionally, you can add your own custom transaction codes and methods of payment if your needs are not met by the defaults. An ACH summary is also included on the transmittals for any company you are on ACH with.

Initial Setup There’s no initial setup required to start using The Receipt Writer as long as the default transaction codes and payment types meet your needs. Companies related to contracts financed with Prime Rate are added to your list of “Receipt” companies automatically when you print the first receipt to them. Other companies not related to contracts financed with Prime Rate can be manually added at any time.

Transmittal Procedure Printing a receipt does not in itself perform any updating of the account information. Your receipt log can be reviewed during the day and corrections can be made before you are finally ready to close out the current receipt book. Internal processes at Prime Rate that affect the status of an account occur during the evening, so it is not necessary to transmit each payment as it is receipted. Performing the transmittal process at the end of the day provides you with the reports necessary for remitting to the companies for whom you’ve receipted payments. Prime Rate receipts are processed during the close-out procedure and you will be able to review the results of the close-out immediately.

Down Payment Receipts Receipts for down payments are selected at the point of printing a finance agreement on our website. All information is transferred to the receipt data entry screen. You will just need to fill in the method of payment and amount receipted.

Monthly Payments A Receipt option is available while you’re on the account detail screen for an insured. All information is transferred to the receipt data entry screen. You will just need to fill in the method of payment and amount receipted.

Payments to Carrier A Rec (receipt) option appears at the end of each policy line when viewing the Policies on an account. The Carrier name and Policy Number is transferred to the receipt. All you need to fill in is the type of payment, method of payment, amount and amount receipted. Note: The carrier is added to your list of Receipt Companies automatically if it does not exist.

The Receipt Writer A Web Receipting Feature

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Filling out a Receipt

The receipt contains the insured name and allows for entering multiple transactions. Each transaction could be for different accounts as well as to different companies.

Description of Fields Remit To Your list of “Receipt Companies” is available by clicking on the drop-down box under

the Remit To heading. If the company is not listed, see the section on Adding Receipt Companies.

Reference This field will be filled out for you if you are coming from a new contract or account

inquiry. It represents the reference number needed by the company for processing. Transaction This drop-down list contains most of the commonly used transactions used for

finance agreements and policy payments. See the Adding New Transaction Codes section beginning on Page 9 if you require additional codes not shown in the default listing.

Type This drop-down list contains most of the commonly used payment methods such as

Cash, Check and Check Forward. See the Adding New Payment Type Codes section beginning on Page 9 if you require additional payment methods not shown in the default listing.

Comments Any comments entered will print on the receipt. Amount Received This is a required field used to calculate the Change due amount. The following options are available on the Receipt Entry screen: Print Stores the receipt information and then generates a receipt in PDF format. The

receipt can be printed, saved or just closed (if you do not need a printed copy). After printing, the Cancel option changes to Finished.

Finished Appears in place of Cancel after Print is selected. Exits the Receipt Entry screen. View Comm Ded Displays the Commission Deductions in the Amount column. Where the amounts can

be edited. The caption changes to View Tx Amt to change back to the transaction amount.

Cancel Abandons the receipt entry without storing any of the information.

The Receipt Writer A Web Receipting Feature

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The Receipt Writer Menu The Receipt Writer Menu option is accessible from the Main Menu

Review Receipts

This option presents a listing of receipts that are either Active (not transmitted) or Inactive (transmitted). Changing between the lists is accomplished by using the Viewing drop-down option to select the desired view. Options located at the bottom of the list allow you to page through the receipts and to return to the Receipt Writer Menu.

Editing Receipts Clicking on the Edit option allows you to view the receipt and change any entry on the receipt except the amount. If the amount is wrong, you must void the receipt and generate a new one. While in edit mode, options to Print and Void the receipt are available. Note: The option to Print the receipt must be taken in order to have any changes stored. This will produce the receipt as a PDF for re-printing.

The Receipt Writer A Web Receipting Feature

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Produce Transmittals This option produces a list of any receipt companies for whom you have receipted money, but have not yet closed out. On the Pending Transmittals screen, you can choose companies to generate transmittal reports on and/or close-out receipts. “Close-out” means you are going to reconcile the receipts and remit the money receipted for the company (ies). You can do this at any point in the day and then continue to write new receipts for the same company, if you wish, for a later transmittal.

The following options are available on the Pending Transmittals screen: Cash Drawer Produces a summary report of transaction types for each user. This can be

used for balancing cash drawers. Important: Each user must have their own login ID for this to work.

Receipt Log Produces a report in order by Receipt Number that includes all companies

checked on your list. Totals for each payment method are included at the end of the report.

Transmittals Produces a report for each company checked on your list. Reports are

separated by company and contain total amounts for the different payment methods. Also, if you’re on ACH with the company, an ACH amount will be printed. Note: The ACH amount depends on a payment method being used that has been flagged as an ‘ACH’ method. Please refer to the Payment Type Codes section beginning on Page 9 for more information on how to indicate an ACH flag on a payment method. Reports are generated as a PDF document that can be printed and/or saved.

Note: You should always make it a practice to print and/or save the reports

each day. Close-Out Receipts Flags all receipts for the companies checked on your list as being “transmitted”.

Use this option at the point in the day when you are ready to reconcile receipts and prepare remittances for each company.

Note: For receipts taken on Prime Rate accounts, the close-out procedure also

notifies Prime Rate of the payments. Accounts are updated accordingly. See the Review Prime Rate Transmittals on Page 7 for additional information about this process.

The Receipt Writer A Web Receipting Feature

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Review Transmittals This option generates a list of all transmittals created from the close-out process. As shown below, each item in the list refers to a specific company with the total amount and number of receipts contained on the transmittal.

Sorting The list can be sorted by clicking on the Date, Transmittal# or Remitted To column

heading. Clicking on the same heading a second time will change the order from descending order to ascending order and vice versa.

View Detail Clicking on a transmittal will produce a detail list of receipts included on that transmittal.

Reprint Reprints the transmittal currently being viewed.

The Receipt Writer A Web Receipting Feature

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Review Prime Rate Transmittals As mentioned earlier,receipts taken on Prime Rate accounts are processed during the close-out procedure and the account information is updated immediately. Reviewing the Prime Rate Transmittals will let you verify that payments were processed without error. Closing out Prime Rate receipts is also referred to as a Data Transfer Session.

Description of Fields and Options Date Range By default, the last five transfers are displayed. You can change the date range

by clicking on either date and choosing alternate starting and/or ending dates. Click Search after specifying the starting and ending date range to execute a new search.

Records / Amount The first Amount column and the Records column indicate what was submitted

to Prime Rate for processing. The second Amount column and the Processed column indicate the status of what was received and processed by Prime Rate. When the values shown in Amount/Record matches the values shown in Amount/Processed, all receipts were processed exactly as they were submitted. Different values could indicate that some receipts were not able to be processed or that that there was a discrepancy between the amounts submitted and the amounts posted. This can be checked further by viewing the details of the Data Transfer Session.

Transmittal # Clicking on a link in the Transmittal# column enables you to view a listing of the receipts that were included on that transmittal. See next page for details.

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View Detail The details of the data transfer can be viewed by clicking on the Transmittal# in the list.

The important column to refer to in this list is the Result. The following messages could be displayed:

Result Messages

Payment Processed Typically applies to payments and/or other receipts that are taken on existing accounts. This indicates the account number was verified.

Processed Okay Typically applies to receipts that are taken on new business, such as down payments. This indicates that the receipt itself was processed without errors.

Below minimum amount due, account not brought current

Indicates that a payment was taken on an account that was less than the minimum amount required to bring it current.

Account not be verified Indicates that a receipt was taken that should apply to an existing account such as a payment, but the account number could not be verified.

Below minimum amount due, account still pending cancellation

Indicates that the account was in a cancel pending status and a payment was taken that was less than the minimum amount due to bring it current. As a result, the account will remain in cancel pending status.

Account placed in Paid status, cancellation held 1 cycle

Indicates that the account was in a cancel pending status and the payment being reported was sufficient to hold the cancellation for 1 cycle. The payment must actually post to the account before the next cancellation cycle.

Archived Data View Only applies to agents that have used Prime Rate’s desktop applications and uploaded payments through our website prior to May 17, 2005. This status should never appear on receipts generated through our web receipt feature.

Receipt already posted with same Receipt Number and Amount

Although a rare occurrence, this indicates that a receipt with the same receipt number and amount had already been posted to the account.

The Receipt Writer A Web Receipting Feature

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Receipt Settings

Receipt Transaction Codes The most commonly used transaction codes are already defined; however, you may require additional transaction codes for other types of business you want to receipt. As shown below, two agent defined codes have been added: Condo Rental and Mobile Home Rental. Agent defined codes can also be deleted, but should only be done if no receipts have been generated using that code. Add New To add your own codes, simply type in the description in the edit box beside the Add New button and then click the Add New. Your entry will appear in the list and will be immediately available on the next receipt you enter. Switch to Payment Type Codes Click this button to access the list of your payment type codes.

Payment Type Codes This list refers to the method of payment being received. The most commonly used methods are already defined and each one also has an indication as to whether or not it is a payment method that will be part of an ACH transfer (also referred to as Wire Transfer and Electronic Draft). The ACH indicator is used to produce totals on those items that will be electronically drafted by the company you are remitting to.

Add New To add your own payment methods, type in the description and indicate with a Y or N if it will be a payment method that will be ACH’d. Click on the Add New button to put in the list. You can delete items you create but remember that once you’ve used a code it shouldn’t be deleted. Switch to Transaction Codes Click this button to access the list of your payment transaction codes.

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Manage Receipt Companies If you only use The Receipt Writer to generate receipts for Prime Rate and/or carriers you’ve financed business for, then your list of Receipt Companies is created automatically. However, if you want to be able to enter receipts payable to your agency, or to other companies that are not related to business financed with Prime Rate, then you can manually add them to your list. Your current list of Receipt Companies is displayed with an option to Edit or Delete. Note: You should not delete a company once you’ve entered receipts for them.

Edit/Delete

Description of Fields Prime# Refers to the number Prime Rate uses to identify a carrier. When entering a new

company yourself, you should use the “lookup” feature to have the information for the carrier filled out automatically:

Important: The record for Prime Rate will be added for you when the first receipt is

entered for Prime Rate. The number for Prime Rate must be 13353 and should not be changed.

Agent# This is entered by you and refers to the number the company uses to identify your

agency. The rest of the information is general address data.

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Add New This option is located at the bottom of the list and is used to manually enter a new receipt company to your list. This same screen is displayed when you choose to Edit a company.

Description of Fields and Options Lookup Click on this option to access the master list of Prime Rate’s carriers. You can search

the list based on the company being a Carrier or an MGA. Once located, click on the Select option to add the data that Prime Rate has on file for the Carrier or MGA to this screen. This will save you data entry time and ensure that the Prime# (Prime Rate PFC#) that Prime Rate uses to identify the carrier is correctly entered.

If the company you’re entering does not pertain to business you have with Prime Rate

then simply fill out the form. On ACH? Enter a ‘Y’ here if you are on ACH (wire transfer) with that company. Finished Click this option to save or update the record. Cancel Click this option to exit without storing any information and return to the Receipt

Company listing.