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s2 Accounting (Account Maintenance
(broker, professional service,
…
s2 Accounting
Account Maintenance
(broker, professional service,
business partner,
impersonal).
- Profit centre ("Actual Unit") configured accounts for Bad Debt Write-Off, Bank Account, Generic Broker, Generic Business Partner, Clearing Account, Exchange Gain/Loss, Generic Professional Services, Write-Off)
inward premiums balance due goes to the generic broker account (despite direct dealing with the fronting insurers).
Inward claim settlements goes to the selected party and the relevant account for the balance due i.e. select broker generic broker account or select 'Company' then the generic business partner account.
Reinsurance transactions balance due goes to the generic broker account for both premiums + recoveries.
Individual transaction’s amount goes to the transaction_01 table in Synergy and the balance goes to the ledger.
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-
Account
Types
.
-
Professional Services Accounts: (‘PSD’) manage payments by /to e.g. solicitors, loss adjusters, claims assessors, etc.
Business Partner Accounts: (‘BPT’) manage direct payments by /to insurance and reinsurance companies
Impersonal (including bank) accounts e.g. ‘Deduction’ requiring accounting entries for control purposes.
e.g. ‘additions’ for Insurance Premium Tax, Value Added Tax), statutory charges (e.g. Fire Brigade Charges), and subsidies)
-
Booking
Period
..
- ‘Close Current Period’ is achieved
if the following
validation is satisfied:
-
-
-
- 'Reopen Last Period' applies to the prevous closed month (except December impacts year-end processing).
- 'Stats Build' does not have to be run prior to a period being closed.