Insurance Claim Compensation

To reflect the process of an insurance claim compensation, you must manually post the corresponding accounting documents in:

Accounting >> Accounting Documents >> Add

🧾 Accounting Entries

1 – Compensation received from the insurance company for the condominium

  • Debit: Bank account (starting with 121…)
  • Credit: Income account Insurance Compensation (78889)
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2 – Refund of the amount as credit to the owner

  • Debit: Insurance account
    or
    Debit: Income account Insurance Compensation (same used in entry 1)
  • Credit: Owner (2111)

    ⚠️ Don’t forget to identify the owner in the Owner Account Statement tab.

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3 – Only if the owner prefers to receive the amount instead of keeping it as credit

  • Debit: Owner (2111)

    ⚠️ Identify the owner in the Client Account Statement tab

  • Credit: Bank account (starting with 121…)
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🔁 Final Step

Finally, create a zero-value receipt to reconcile the two entries related to the owner.