Billing and Accounting

Genoa’s Billing and Accounting module automates the premium billing and accounting Process reducing administrative costs and errors, improving cash flow and providing enterprise-wide transparency for invoicing, payments and receivables.

Highlights

• Genoa supports the automatic generation of invoices in PDF format sent by email to designated individuals within the assured or broker organization.
• Genoa includes a comprehensive accounts receivable tracking and management system with inquiry and drill-down functionality for individual invoices, payments and shipments.

Functionality includes

• Automatic generation of premium invoices in PDF format, Excel or through an internal accounting system which is then delivered by email based on specific client/policy rules and billing dates.
• Automatic calculation of adjustments for storage and shipment declarations.
• Records individual premium bookings and miscellaneous charges.
• Calculation of charges and taxes based on specific countries associated with the risk and the assured.
• The calculation of TRIA premiums and numerous government and internal charges against premiums.
• Billing period reports include commissionsand taxes associated with each policy.
• Links to external credit card and electronic funds transfer payment systems to facilitate payments by users.
• Accounts receivable tracking; management system has the ability to query into individual invoices, payments and shipments.
• Supports Direct Bill and Agency Bill Invoice methods.
• Multiple integration options available with internal accounting systems.
• Monthly, quarterly, semi-annually or annually branded invoices for brokers and underwriters for selected policies and present line item details.
• Payments and invoices may be recorded against these invoices per line item or on complete invoices.