Delinquency Control: Discussion

Transcription

1 Delinquency

2 Delinquency Control: Discussion Process The Delinquency process manages accounts going through a delinquency cycle Letters and / or Charges are processed at the same time Information tracked at the owner account

3 Delinquency Control: Cycle Delinquency (Setup Property Setup Delinquency) Main Terms Cycle: a reoccurring process Sequence: letter and / or charge to process from the last within a cycle Global Settings Days to avoid on New Accounts: Skip resident account based on Escrow Date and calculate Late Date Post Late Fee to Lien: Used to determine if system should post late fees calculated using the Community Late Fee Billing records Default Analysis: Current Month Only, Exclude Current Month, Open Charges Distribution: Always Print, and Print, / Otherwise Print

4 Delinquency Control: Cycle Delinquency (Setup Property Setup Delinquency) Cycle Name: enter the collection sequence name Process: Account Balance, Collection, Tier 1 / 2 Late fee balance Account: Account Type to process Inactive: VMS will no longer use this sequence Last Process: when cycle last processed Period: the time frame for the late fees: Daily, Monthly, Quarterly, etc.. Day: the late fee is incurred by this date Community: Allows for specific communities, excluded communities Collection Vendor: default collection vendor to manage this cycle Begin Amount: fixed about to analyze to account balance % of Assessment: calculate begin amount based on assessment charged

5 Delinquency: Cycle Delinquency (Setup Property Setup Delinquency) Cycle Continued % Factor: % of assessment multiplied by this amount to determine begin amount Ending Amount of threshold Auto Close: closes a delinquency cycle once a resident balance is within the range Use Late Date: Reviews all current delinquencies based on the current cycle instead of the Next Process date Balance Analysis: Current Month, Exclude Month

6 Delinquency Control: Sequence Delinquency Sequences Collection Letter: Letter to print for this sequence Repeat: How many times does this sequence repeat Hold: hold the cycle until next sequence if manually selected Lien: client on lien, validation file is marked No Web: resident cannot log into the web portal Collections: account is in collections Sync: synchronizes the account with a collection vendor Certified: Print certified card Statement: Sets flag to print statement through Report Generator Label: Sets flag to print labels through Report Generator edistribution: Upload created PDF letters to vendor - Export / Print, Export Only

7 Delinquency Control: Sequence Delinquency Sequences Status: delinquency status Days: Days until next letter Begin Amount: fixed about to analyze to account balance % of Assessment: calculate begin amount based on assessment charged % Factor: % of assessment multiplied by this amount to determine begin amount Inactive: sequence is not longer used

8 Delinquency Control: Charges Delinquency Charges Posting Code: late fee A/R codes Type: Fixed Amount, % of Late Fee Balance, Inclusive, % of Account Balance Amount: amount to charge or calculation factor Minimum: If % based charge < minimum, charge minimum Maximum: Do not exceed Balance Analysis: Current Month, Exclude Month

9 Delinquency Control: Community Billing Community Billing: Setup late fee charges that do not require a letter Terms Name: enter the late fee billing name Posting Code: select the charge code Type: Fixed, % of Account Balance, % of Late Fee Balance, Inclusive Inclusive: Used to subtract from all late fee charges, then post as separate charge to avoid exceeding a late fee maximum allowed charge Late Posting: last time the billing was process (can be used to set back a process) Period: the time frame for the late fees Day: the late fee is incurred by this date Amount: amount to process Begin / End Date Range: date range the fee is applicable Minimum: If % based charge < minimum, charge minimum Maximum: Do not exceed Begin / End Range: balance to analyze

10 Delinquency Control: Usage Account Information Delinquency Process Analyzes owner accounts based on open LF include charges to determine status of account If no open cycle exists Add new cycle based on first sequence If open cycle exists Set next sequence If Held cycle exists Account is displayed, but set to skip

11 Delinquency Control: Usage Review / Post Account Information Delinquency Options Select how to review the information to be processed Billing: Residents / Developer / Builder Process: All, Account Balance, Collection, Late Fee Balance Tier 1 / 2 Grace Days: How far back to review properties Select property(s) Review Press the Review tool to locate all delinquent accounts Analyze the accounts, change sequence, skip accounts, change charges, skip charges Select the Properties to process, press Post Process Posts charges Creates letters and adds to account s delinquency process Based on Distribution Method Letters are ed Letters are printed / ixpert Letters are upload to edistribution vendor

12 Delinquency Control: Usage - Maintenance Allows for the maintenance of the delinquency records for each property Two areas for managing delinquent accounts Resident Maintenance Delinquency: Maintenance Enter additional notes, generate letters, attach digital data

13 Delinquency Control: Usage - Maintenance Information allows for the maintenance auction, bankruptcy, NOD, NOS data entry

14 Delinquency Control Maintenance: Usage Schedule tracks payment plans Automatically set to paid date with memo if payment posted through lockbox Unpaid payment records can be viewed through Task Management user panel or a report