Suspense payments

A suspense payment is a payment associated with an account or producer that is not yet known to BillingCenter. This can occur in the following circumstances:

• The policy administration system receives payment for a policy for a new account before the policy is bound. The policy administration system sends the payment to BillingCenter. But it has not yet sent any account or policy information.
• The account information for a payment is erroneous.

BillingCenter uses suspense payments to record payments as soon as they are received, even if the payment's account or producer cannot be determined.

BillingCenter manages suspense payments with stand-alone Suspense T-accounts. A stand-alone Suspense T-account is a T-account that stores the funds for a single suspense payment. Stand-alone Suspense T-accounts are not associated with any account, policy, or producer. Sometimes, one may casually state that a payment is "in Suspense" or is being "moved to Suspense". This language implies that "Suspense" is a single T-account. In reality, BillingCenter uses multiple T-accounts to manage suspense payments.