If your Binder Post Method in Agency Setup is set to 'Post Expense After Replaced on Later of Effective or Replace Date,' the offsetting entries post to a 'deferred binder' account until such time as the binder transaction is replaced: If your Binder Post Method in Agency Setup is set to 'Post Expense on Effective Date,' the offsetting entries post to the appropriate payables, income and expenses on the invoice effective date.
Binder invoices post to an accounts receivable account to allow for timely collection or return of premiums:
