As per the Directorate instructions, PLI/RPLi premium is segregated in First Year Premium and Renewal Premium.
This segregation happens on the basis of Date of Acceptance of the policy.
In the CashAccount also, the separate account heads are created by Treasury for First Year Premium and Renewal Premium. Simultaneously, the separate account heads are created for Other Than Premium, Rebate.
All these account heads get created during the upgradation of Treasury Database
The Other Than Premium head contains the amount for following items:
Medical Fees, Fines (Surcharge), Duplicate Fees, Miscellaneous Receipts.
Schedule is also modified to create separate Schedule for First Year Premium, Renewal Premium on Receipts side and Rebate schedule on Payment side.
At Point of Sale, on the basis of Date of Acceptance, the premium will be segregated in First Year Premium and Renewal Premium.
Coming to Schedule Part, the HO PLI/RPLI Premium data will be fetched from Tools->Fetch from Counter and Treasury. This data will already be segregated in first year premium and renewal premium.
Regarding SO , the segregation will happen if Date of acceptance for the policy is provided. Otherwise, the transaction will be treated as Renewal Premium transaction.
Coming to Report part of Schedule, in Receipt side, there are three schedules which are as follows:
First Year Premium, Renewal Premium and Other Than Premium
When you are going to Report->Receipts-> PLI/RPLI Premium, you will find First Year and Renewal option button. Now, if you want first year premium, then you will have to select the corresponding first year premium account head from the combo box. If account head is not there, it means that treasury has not created the account head.
Same thing holds good for Renewal Premium. Select the Renewal Premium option, select the corresponding account head. If any difference is there, set it right and u can see the report.
For generating Rebate Schedule Report, you don’t have to make any data entry. The data will come from the transactions which you have entered in PLI/RPLi premium receipts. In those transactions, if any rebate is given to customer, then that rebate will appear in Rebate Schedule.
For Other Than Premium Schedule, you will make data entry for following items in Receipts-> Unclassified Receipts:
Medical Fees, Duplicate Fees, Miscellaneous Receipts.
Fines (i.e default fees) item will come in Other Than Premium Schedule from the transaction which you entered in PLI/RPLI premium receipts
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