EZLynx

Mortgage/Title Company Invoice

    In EZLynx we treat mortgage companies the same as Finance companies.

Quick Workflow

1. Add the Mortgage Company
2. Create the Invoice
3. Apply the Receipts when the money is received from the customer or the mortgage company

Add the Mortgage Company

1. Click on the Accounting Icon > Select Configuration
2. Click the blue Add Payee button on the far right
3. On the Payee Information Screen
   1. Enter the name of the Mortgage Company
   2. Set the Payment Term
   3. Set the Type as ‘Finance Company’
   4. Click the blue Add Address button to add the address – for the Type set as ‘Mailing’
4. Click Save

Create the Invoice

1. Locate the Customer you are creating the Invoice for
2. On the Overview screen, click – Create Invoice and select the policy from the drop down
   • Note: If the policy you need does not appear in the drop down, locate the policy and click Actions> Edit, verify that the policy is set to Agency Bill and the Billing Company is selected, click Save.
3. On the Create Invoice Screen, Click the blue ‘Add Line Item’ button on the far right then add any line items required by the carrier or your agency
4. Change the Invoice Type to Premium Finance- On the right set the Invoice Type to ‘Premium Finance’
5. At the Premium Finance Company field- select the mortgage company
6. Set the Paid to Field as ‘Agency’ or ‘Billing Company’ – depending on what you chose follow the steps below to select and create the receipt

Paid to Billing Company

    When the escrow amount is sent directly to the Billing Company, the agency collects any remaining premium, associated fees and retained commissions.

1. Select Paid to Billing Company.
2. Enter Amount in Escrow per your agreement.
3. Click Create Invoice.
4. Now, to record the deposit payment, find the invoice, click Select under the Actions column.
5. Click Pay, and the New Receipt tab.
6. At Comment, enter carrier name and last four digits of policy #.
7. At Deposit, select the appropriate day’s deposit reference # or leave it set to None.
8. Click Save.
9. Payment is received, applied and ready for deposit - to pay the carrier.

Paid to Agency

    When the escrow amount is sent directly to the agency, the agency is responsible for paying the Billing Company the entire premium plus any associated fees.

1. Select Paid to Agency.
2. Enter Amount in Escrow per your agreement. (If you are not collecting a down payment this will be the Invoice Total)
3. Click Create Invoice - 2 invoices are created; one each for the customer and Mortgage Company.
   1. An invoice # that ends with “F” is for the Mortgage Company.
   2. Each invoice is paid separately.
   3. To view collected payment information for both invoices, simply click the Finance invoice. 
4. Enter the Mortgage company receipt in the Accounting portal.
   1. Go to the Receivables page, click Add Receipt.
   2. At Payer, select the finance company.
   3. Enter required data, and Save.
   4. Click Actions, then select Apply by Invoice.
   5. Choose the invoice line items and click Save.