Lesson 6:Memo Status

Closed - by Carrier: The carrier closed the memo by adjusting the balance to zero. Closed - Sign Change Forced: The agent overpaid the memo resulting in a sign change. Closed - Settled in IAR: The memo was paid in Memo Manager via IAR and the payment settled in the agent's last sales report. Inactive - Aging criteria exceeded: The memo has been open in the system longer than the carrier allows a memo to remain active. Inactive - Agent ownership change: When an agency has a state to state ownership change, the carrier will need to issue a new memo with the new ACN number. Open - Agent action required: The Memo has been received and opened by the agent. Open - New Memo: The memo has been entered in the system by the carrier but the agent has not viewed the memo. Open - Dispute Pending: The agent has disputed the memo. The carrier now needs to accept or reject the dispute. Open - Payment Pending: The agent has paid the memo, but it has not settled in IAR. Open - Reactivated: The memo went to inactive status and was reactivated by the carrier.