List Bill Payrolls

List bills are for Non-CUNA Mutual and Non-Minnesota Mutual-type insurance processing, such as AD&D, Cancer, Credit Life and Disability, and other types of insurance.

The List Bill group box on the Credit Union Profile – Loans tab contains the credit union’s insurance list bill options.

• Select the Minimum Balance check box to check the minimum share balance during list bill processing. The processing rules for the specific share type contain the minimum balance.
• Select the Partial check box to allow partial payments for list bill premiums. Pledges, check holds, etc. will be ignored. If the Partial check box is not selected, partial payments from the member’s account for the insurance premium will not be allowed.

The 050-059 Insurance List Bills generate a 580 Report on Nautilus Essentials from the posting date cycle. No special set up is necessary for the 580 Report. The report should generate automatically at the time of posting. The Credit Union Profile – Loans tab overrides the Share Balance field in the Payroll Processing Options group box on the Payroll Processing Summary window. This includes options Post to minimum and Post to zero (in order to process the payroll and allow for partial distributions). The Share Balance field cannot be Consider accumulated.

The 075-079 Insurance List Bills contain premiums taken from the member in the form of a loan advance or a loan add-on. The 075-079 Insurance List Bills generate a 581 Report on Nautilus Essentials from the posting date cycle. No special set up is necessary for the 581 Report. The report should generate automatically at the time of posting. The premium is taken in the form of an advance against the member’s loan type specified on the transmission. The Share Balance field cannot be Consider accumulated.

Complete the following steps to post list bill/insurance payroll.

1. Compare the computed amount on the 261 Report to the list bill amount from the insurance company. If the amount is correct, continue with step 2. If the amount is incorrect, contact the insurance company to let them know the tape or transmission file contained a different amount than expected. Determine whether the error occurred on the list bill or on the file sent to File Exchange (XROADS). Request a transmission file with the correct amount if an error occurred on the transmission file. Contact Portico Services to delete the incorrect insurance/list bill data from the 261 Report. Do not update the Payroll Posting Summary window until the correct computed amount appears on the 261 Report. If you have multiple 261 Reports with the same insurance/list bill number, instruct Portico to delete the incorrect report. Proceed with step 2.
2. On the Payroll Posting Summary window, display the payroll information for the 3-digit insurance number listed on the 262 Report, usually 050, 051, 052, 075, or 076.
3. Click the Effective Date down arrow to select the correct effective date from the drop-down list or enter the date in MM/DD/YYYY format.
4. Click the Post down arrow and select Yes.
5. In the Amount to Post field, enter the correct amount.
6. Click Save. The TRANSACTION COMPLETE message will appear.

The 580 Report will contain the posted and exception list bill/insurance payrolls in the 050-059 series. The 581 Report will contain the 075-079 series.