Purchase Information for Insurance Policy Purchase

You can view and edit the purchase information of an insurance policy under the "Purchase" tab.

Maturity Date

The system calculates the due date according to the Collection - Payment Schedule , which is linked to the supplier account information.

Collection - Payment Plan Selection

If the " Collection - Payment Schedule " is not defined in the supplier master data, you can select a predefined schedule from the " Collection - Payment Schedules" window under the " Purchasing" tab.

Immediately after selecting the plan, the system displays " Maturity - Cash Flow" Information.

Then you should save the document.

Calculating Maturity Dates and Possible Amounts for Different Purchase Amount Rates

There may be different maturities for different rates of the policy amount.

In this case, you can define this new status by pressing the " New Maturity Line" button.

For example, you and your insurance agent agree on a payment plan where 50% of the total insurance amount will be paid on the insurance payment date and the rest will be paid one week later. You can add a new due date line with Day = 0 and Rate = 50, and then add another line with Day = 7 and Rate = 50 and save. The system will automatically calculate the dates and amounts.

Note: If you want to change the maturity - cash flow information that is automatically displayed according to your "Collection - Payment Schedule" selection, you must first delete the "Collection - Payment Schedule" information.