Understanding the Link References

To meet the Pay as Paid requirements of a Broker ledger, the system must be able to tie the releasing of funds on one side of a transaction (premium or claim), to the receipt of funds on the other. Link references are used to group ledger transactions for this purpose.

Financials uses three different types of link reference to group related ledger transactions:

  • Billing Link

    This is used to link related business transactions and thereby allow for consolidation and net settlement. For example, it is used to group the transactions for a claim and any related re-instatement premiums to ensure that only the net of these transactions is settled. Billing link information must be imported from an external system using Ledger Import (LIM) as it cannot be entered or maintained directly through SunSystems.

    This is maintained in Link Reference 1 on a ledger transaction.

  • Intra Transaction Link

    This is used to link the journal lines within a 'business transaction' to allow for the association between the client and underwriter lines in a journal. For example, when funds are received and matched on one side of a business transaction, the intra-transaction link is used to identify the transactions that should be released on the other side.

    The intra-transaction link information must be imported from an external system using Ledger Import (LIM) as it cannot be entered or maintained directly through SunSystems.

    This is maintained in Link Reference 2 on a ledger transaction.

  • Accounting Link

    This is used to manually link transactions and is also used for consolidation and net settlement. For example, it is used to group transactions together for payment or statements. Accounting Link information can be imported and entered directly into SunSystems. Accounting link information is entered and maintained within SunSystems using the Accounting Link Function.

    This is maintained in Link Reference 3 on a ledger transaction.

The link references are available on many of the standard reports and inquiries.