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Term Effective Date

The Term Effective Date marks the beginning of a policy term. It is used to calculate the expected commission schedule and drive the Accounts Receivable report.

💡 Why Use This

The Term Effective Date is a required field on every policy. Set it correctly when:

  • Creating a new policy — This date defines when the first payment is expected and anchors the entire billing schedule.
  • Renewing a policy — Update this date each renewal so the new term's payment schedule is calculated correctly.
  • Investigating A/R discrepancies — An incorrect Effective Date is a common cause of false positives or missing entries in the Accounts Receivable report.

🗺️ How to Access

The Term Effective Date is a field on the Policy screen within the Policy Information section. Open any policy and locate the Term Effective Date field.

Key Concepts

Term Effective Date

  • Billing vs. Received — The Effective Date is the "Billing Date." It represents when the money is earned, regardless of when the check physically arrives.
  • Payment Expectations — Combined with the # Of Payments Per Term field, this date defines the window of time Commission Tracker expects to see revenue for this policy.

🔧 Troubleshooting

Payments are appearing on the wrong dates in the Accounts Receivable report. Verify the Term Effective Date matches the carrier's billing start date exactly. A one-day discrepancy shifts the entire expected payment schedule.

I need to change the Effective Date on a policy that already has payment history. Use caution — changing this date on a policy with existing payments can cause those payments to appear orphaned or misaligned. Contact support before modifying the date on a policy with a long payment history.

Need help? Contact support@commission-tracker.com