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Insurance
Generate Billing Schedules

Generate Billing Schedules

This task describes how billing schedules and billing schedule groups are generated for a policy using milestone (hybrid) billing during policy issuance.

Required Editions

Available in: Lightning Experience
Available in: Professional, Enterprise, and Unlimited Editions where Insurance Brokerage is enabled
  1. Issue the insurance policy.
    When the policy is issued, policy lifecycle services automatically perform proration and premium calculations, create insurance policy transactions, and transaction details for premiums, fees, tax, and commissions.
  2. From the Insurance Policy Transactions related list, select Send to Billing.
    This action:
    • Triggers the billing service
    • Creates billing schedule groups
    • Creates billing schedules and billing schedule groups for each premium, fee, and commission item

    Billing schedules are created based on the Billing Treatment (including milestone configuration) associated with the policy or coverage.

 
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