When are debit memos settled and closed in ARC Memo Manager (AMM)?

When are debit memos settled and closed in ARC Memo Manager (AMM)?

• A. When the carrier approves the memo.
• B. Upon automatic monthly close.
• C. When the ARC accredited agent submits their IAR sales report.
• D. After a 30-day reconciliation period.

Answer: (C)

Debit memos in ARC Memo Manager are settled and closed when the ARC accredited agent submits their IAR sales report. The IAR report provides the verified sales data ARC uses to reconcile the memo; once that report is submitted and processed, the memo is cleared and marked as settled. This ensures closure reflects actual sales activity rather than waiting for carrier approval or a fixed monthly window. If the IAR report isn’t submitted, the memo stays open for reconciliation.

Debit memos in ARC Memo Manager are settled and closed when the ARC accredited agent submits their IAR sales report. The IAR report provides the verified sales data ARC uses to reconcile the memo; once that report is submitted and processed, the memo is cleared and marked as settled. This ensures closure reflects actual sales activity rather than waiting for carrier approval or a fixed monthly window. If the IAR report isn’t submitted, the memo stays open for reconciliation.