12.6. Entry Code Transformation Terms

Entry Code Transformation Terms icon

When you click the Entry Code Transformation Terms icon in the Reference Items folder on the SICS desktop, you see the Entry Code Transformation Terms window where you can define entry code information for retrocession accounting. Entry codes booked on the Business Ledger for the Assumed Business can be converted to another entry code to be used for the Outward Cedent’s Contract and the Retrocessionaires.

The terms you define here can be selected from the Administrative Conditions, Currencies/Entry Code tab for an Outward Cedent’s Contract. You can use the same terms for all the Outward Cedent’s Contracts, or define special terms for all or some Outward Cedent’s Contracts.

This window lets you create and define entry codes that are not the same for the original booking (from the Assumed business) as for the outward booking. In the left column (Original), you can enter all original entry codes to be transferred to the outward entry code (Booking). For example: Both overriding commission and commission from the Assumed business can be booked as commission on Outward Cedent’s Contract/Retrocessionaires.

You see the name of the term at the top of the window. When you click an item in the list and click the right mouse button, you can select Edit to make changes to the term, Copy to make a copy of it, or Delete to delete it.

Create New Entry Code Terms #

To create a new term, click in the Name of Term display list and select New from the pop-up menu. You see the New Entry Code Term window, where you can type in the name of the new term.

Define Entry Code Terms #

After you create an entry code term, you must then define it. To do so, click the Definition of Terms display list and select New from the pop-up menu. You see the Edit Entry Term Detail window.

Here you can specify entry codes to be converted, and what they should be converted to.