Quotes and Invoices: Creating the Invoice with Finance Connect

The Quotes and Invoices feature allows you to streamline your billing process by creating professional payment requests and tracking them in real-time.

To enhance the checkout experience, Finance Connect is integrated, allowing you to offer premium financing through your existing partners directly at the point of payment. This eliminates the need for paper PFAs, improves conversion rates, and helps you get paid faster with upfront terms and automated e-signatures.

If you don't have Finance Connect set up yet, there is no additional monthly fee to use it. You can learn more or contact the team to connect your preferred Premium Finance Company (PFC).

Accessing the Feature

1. 1.Log into the ePayPolicy Dashboard at http://app.epaypolicy.com/
2. 2.From the left-hand navigation menu, click on Quotes & Invoices.

Creating a New Quote or Invoice

1. 1.Click the Create New button in the top right corner.
2. 2.Select whether you want to create a Quote (for approval) or an Invoice (for immediate payment).
3. 3.Enter Invoice Details

Required Fields:

• ​Payer Name: Name of the payer, also appears on the email.
• ​Email Address: The email the invoice will be sent to.
• ​Customer Name: Customer listed on the policy; may be the same as the Payer Name.
• ​Invoice Number: A unique identifier for your own tracking; does not impact the invoice.
• ​Due Date: Date payment must be made by; this will impact customers' reminder emails.
• ​Line Item Description: The purpose of this invoice, e.g., a description of the policy type.
• ​Amount: Total amount to be paid.

Optional Fields:

• ​Invoice Expiration Date: If not paid, this is the date the invoice and the payment link sent will expire.
• ​Policy Number: The unique identifier assigned to a specific insurance policy for tracking and reference.
• ​Effective Date: The specific date on which the insurance coverage officially begins.
• ​Policy Expiration Date: The date the current policy term ends and coverage ceases.
• ​Additional Line Items: Extra fields (up to 5) to list and price specific services or charges beyond the primary invoice item.
• ​Taxes: Applicable state or local government levies calculated and added to the total premium.
• ​Fees: Standard administrative or processing charges applied to the invoice.
• ​Custom Fields: Tailored data points available upon request to automate syncing with your specific management system.

Keep in Mind:

• ​Custom fields are available upon request and allow you to pull information from and write back to your management system automatically.
• ​Custom Fields are configured at the account level to ensure consistency across your team.
• ​To add or edit custom fields, contact your Account Manager or email support@epaypolicy.com.

Allow Finance Eligible Invoice

1. 1.Click Yes for "Allow Finance Eligible Invoice".
2. 2.Enter applicable Finance Details:
   • ​Line of Business: Select the specific category of insurance for correct categorization in reporting.
   • ​Business Type: Specify the nature of the payer’s operations or the market segment.
   • ​Minimum Earned % (Optional): Enter the percentage of the premium that is non-refundable if the policy is cancelled early.
   • ​Number of Days to Cancel (Optional): Indicate the required notice period or timeframe before a policy is terminated due to non-payment or request.
   • ​Auditable (Optional): Flag whether the final premium is subject to adjustment based on an end-of-term review.
3. 3.Enter Customer Details:
   • ​Customer Name: Pulled from the Invoice details.
   • ​Address: Address to be listed for the customer.
4. 4.In the Insurance Carrier / Writing Company Details section, either complete a Carrier Search or manually enter company information.
5. 5.If applicable, complete the "Is there a General Agent / MGA / Wholesaler on the policy?" section.
6. 6.Click Check Finance Eligibility.

Keep in Mind:

• ​If a required field for financing is missing, a red text will appear in the field for you to complete.

1. 1.The finance estimate will appear.
2. 2.Options available:
   • ​Update Financing Eligibility: Click this when a change is made to the details and you want to view the new finance estimate.
   • ​Decline Financing: Select this option if you decline providing the finance option.
   • ​Save: Store all entered information and updates.
   • ​Copy Invoice: Create a duplicate of the current invoice for quick entry.
3. 3.Click Save.

Managing and Sending

Once saved, you will see several management options:

• ​Edit: Update amounts, add line items, or adjust policy information.
• ​Create Email: Send a customized message with the invoice link and any relevant attachments.
• ​View Payment Page: Preview what your insured will see before sending.
• ​Copy URL: Copy the direct link to use in your own email service or to combine multiple invoices for one payer.
• ​Void: Invalidate the invoice to prevent future payments.
• ​Paid Offline: Mark the invoice as paid if you receive a physical check or external payment.
• ​Copy Invoice: Create a duplicate of the current invoice for quick entry.
• ​Add Policy/Invoice: Send payment links that allow payers to view and pay multiple invoices simultaneously by selecting the data to carry over, adjusting, and saving.

Paid Invoice

• ​Once a payment is processed, the invoice status will automatically update to "Payment on MM/DD/YYYY" with a direct link to the transaction details.
• ​If marked manually, it will show as "Paid offline on MM/DD/YYYY."