Billing

Billing

TIMX SCM: Billing Overview

Billing

Users can view billing details such as the billing schedule, applied payments, and more on the Billing screen.

To view the Billing screen, follow these steps:

1.    From the Menu Options screen, select Billing.

2. The Billing screen will display.


The top half of the Billing screen provides specific details. Below are the descriptions by column:

 

Billing Fields

                                                                                  Column 1

HS Id

The number assigned to the account (contract number).

Ren Num

The number of times the account has been renewed.

Prch Type

Classifies the enrollment conditions based on how the customer was introduced to the warranty.

Eff and Exp Date

The term/timeframe for the product.

Cxl Date

The date the product was canceled.

Column 2

Comp Name

When applicable, displays the corporation the product was enrolled under.

First and Last Name

Displays the primary contract holder.

Address, City, State, Zip

Displays the covered property address.

Column 3

Premium

The annual cost of the product.

Option

Total cost amount of optional/additional coverage.

Tax

Applicable state tax.

Bill Date/Bill Amt

Billed amount and due date.

GAP Amount

The total amount of missed payments.

Column 4

Prior Years Balance

The previous year’s balance.

Balance

Balance due.

Billing Mechanism

The payment structure used to bill the account (e.g., paymentech, mortgage).

Payment Terms

Payment frequency.

Billing History


Billing History fields

Bill Type

The transaction type (Billing/Refund)

Released date

The date when the invoice is sent to the bank for processing.

Bill Amount

The amount billed.

Response

The bank’s response after processing the payment.

Create/Print Ad-Hoc Bill

Allows users to create and print an invoice/bill for customers who are on full payment or a 3-month installment plan, and have a balance past due.

Email Ad-Hoc Bill

Allows users to email an invoice/bill.

Comm Hist Log

Shortcut to the notes.


Billing Detail


                                                Billing Detail Key fields

Ren Nem

Renewal Year.

Bill Amount

Total amount due. Click the $ sign for a breakdown of the bill amount.

Istl

Current installment number in the payment schedule.

Due Date

The date of the payment is due.

Status

Payment Status (current, past due).

Paid Amt

The amount received/refunded.

Paid Date

The date the payment posted.

Description

The product name.

Invoice Type

The purpose of the invoice.


Payment History

The Payment History screen allows users to review transaction history and send a copy to customers. 

To view the Payment History screen, follow these steps:
  1. Click the Payment Screen Tab
  2. Click on the Payment History Tab. 


The Payments View will display


Payment View Key Fields

                                                                       Row 1

Batch Payments Pending

Payment is pending because the batch has not been closed. These are manually processed by associates. Once the batch is closed, payment will post on the Payment History.

Row 2

Payment History

A payment that has been manually processed in a batch, by an associate. It also provides details of the payment, such as dates, incentives, etc.

Row 3

Interface Payments Pending

Pending payments that are sent to a processor (i.e., ACH, DDA). This file is sent by IT to be processed.

Payment Preview

Displays a pop-up that allows the user to view, print, and/or email the payment history to the customer.

Row 4

Interface Transaction Received

The payment is posted after processing and is no longer pending.

Send Payment History Process

A copy of the payment history can be sent to customers from the Payment Preview tab.
  1. Click the Payments Preview tab.
  2. The Payment History pop-up displays all payments received from year 0 to present. 
  3. Users can print or email a copy of the payment history to the customer by using the tabs at the bottom.

The Payment History will be sent to the email address on file. 

General Billing Terms 

Term

Definition

Enrollment Date

The date the contract was sold

Effective Date

The date the contract became effective

Expiration Date

The date the contract expires

Cancellation Date

Prior to the expiration date, the date the coverage is discontinued

Due Date

The date the payment is due

Expected Release Date

The expected date the bill will be printed and sent to clients or charged from the financial institution. Calculated based on billing mechanism and due date

Actual Release Date

The actual date invoice is printed, or file is sent to Credit Card processor (Paymentech) bank or client for processing

Installment Paid Date

The date the full amount billed is posted.

Deferred Billing

Deferred/delayed billing generally occurs for mortgage customers, meaning bills are due after the effective date.

Billing Mechanism

Billing mechanism/structure used to receive payment, e.g., Invoice, Credit Card processor (Paymentech), or mortgage.

Payment Method

Method used to pay for product e.g. credit card or ACH

Payment Schedule/Plan

Describes the frequency for payments e.g. Monthly, 3 installments, full pay and whether fees are included

Past Due

Any outstanding balance from previous bills at the time a bill is processed.

Base Premium

The base cost of the warranty, excluding options, fees and sales tax.

Client Bill Date

Date client is instructed to start billing.


External Client Bill

Each Client has a different schedule to start billing.  The client must have an external reference number.  If the reference number provided is not the number required for billing, then the contract would go through the “bounce” process (decrypting process for clients with strict privacy rules).

Send to Interface

Indicates to send record to the mortgage company to process bill (printed, sent to processor or client).


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