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Oracle® Insurance Rules Palette 9.4.1.0 E23637_01

# Suspense Overview

Suspense and accounting functionality (Chart of Accounts in Admin Explorer) can work in tandem or separately. Best practice is to implement both and have them work together to provide information on financial activities related to a company.

Note: The Prototype Company provides an example of enhanced suspense processing. View the prototype example for additional information.

## How Suspense Works

Money can be posted directly to a policy or entered into a suspense record. Part of the suspense record or the entire record can be attached to a policy.

If money cannot be applied directly to a policy, it is usually entered as a suspense record at the company level through the Suspense screen, which may also invoke account processing.

Accounting will process based on criteria indicators set on the Chart of Accounts and the optional ChartOfAccountsCriteria rule. The ChartOfAccountsCriteria rule allows for the use of indicator values on the suspense record that will control which suspense account(s) the money will apply to.

## Suspense Accounts

A suspense account is an account that is used to temporarily store money until a decision is made about where the money will be allocated. It identifies where the money came from and allows the money to be used as payment to one or more policies. Suspense accounts are set-up in the Rules Palette from the Admin Explorer tab in the Chart of Accounts folder.

## Suspense Records

Suspense records can be created from the Suspense Screen in OIPA or they can be generated by the GenerateSuspense business rule when it is attached to an activity that is processed in OIPA. Suspense records are used to track and hold money in a suspense account. A unique suspense number is generated with each suspense record for identification purposes. Suspense records are written to the suspense account(s) for a company's general ledger. These records temporarily hold money until an activity generates a process to disperse or apply the money. Suspense records are created in OIPA and are associated with existing suspense accounts.

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