In OIPA, the payment is first entered in the suspense account and a suspense record is generated. Then a CSR would process an InitialPremium or AdditionalPayment activity for that policy. The activity would then apply the money from the suspense account to the client's respective account. ...
1) If you are making it the Main bank Account, then it should not be open Item managed. 2) Secondly, if it has balances already then either make postings and make it Zero, else the balance will not tally with the Bank Statement balance. Technically, it is not an issue at all.. Reg...