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Enhancements to Ensure Accurate Charges
May 17, 2021 Media, PA
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Quadra’s Allocations module is a singular feature that enables users to generate accurate premium charges based on a client's level of risk. Several enhancements for this module are now available as part of release 6.5.8:
The asset change prorate process has been updated to account for future installments. This will ensure that the resulting charges will be properly adjusted when asset changes occur within an allocation period. Additionally, there is now greater accessibility to the ‘Regenerate’ function within the Allocation schedule. If you edit an allocation once it has started, it is necessary to regenerate the amounts. While previously you could only access the 'Regenerate' function from the Allocation Schedule, it is now possible to regenerate amounts from the schedule date detail pages (asset change, allocated amounts, invoices).
New features currently in progress
Exciting details are coming soon regarding some features within the Allocations module that provide even more flexibility with regards to invoice and A/R journal entry creation. In particular, the ability to roll back invoices and journal entries will be available, along with options for generating reports.
Additionally, the current procedure for creating invoices and journal entries resulting from asset changes requires the user to proactively complete the process. However, with the next release, it will be possible to automate this particular step for greater convenience. Stay tuned for more details!
We are continually working to add capabilities to Quadra that ultimately improve our clients’ methods for managing an effective insurance program. If you have any questions or comments, please let us know!
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