Activant Prelude. Collecting on Past Due Invoices

Transcription

1 Activant Prelude Collecting on Past Due Invoices

2 This class is designed for Financial managers Accounts receivable personnel Anyone who follows up with customers on past due invoices

3 Objectives Set up credit collections System level requirements Customer level requirements Include/exclude from collections Credit Collections Type (e.g., good, slow paying) Credit collection activities and schedules Generate collection activities and letters based on Credit Collections Type Enter/view collection notes Use the Credit Collection Activity Report

4 This course will NOT cover Cash receipts Setting up customers Entering sales orders Printing invoices Custom modifications User-specific topics or scenarios

5 Setting Up Credit Collections Accounts Receivable Parameters Additional Option Parameters Customer Maintenance Credit Collection Types Credit Collection Activity Codes Follow-Up Collection Activities

6 Accounts Receivable Parameters Indicates if security codes are required when scheduling collections Customers whose balances are below this amount are excluded from collections. Systems Menu > Option Parameters > Accounts Receivable Parameters

7 Additional Option Parameters Determines if disputed invoices are included in collections. Number of days before collection comments expire. Determines if credits are included in collections. Additional Option Parameters > F5-Addit Info

8 Customer Maintenance Groups customers for collections. Customer Maintenance > F6-A/R > F5-Add Info

9 Customer Maintenance N - Include in collections Y - Do not include in collections D - Exclude from collections if A/R balance is below Credit Collections Min $ Minimum balance to include in collections Customer Maintenance > F6-A/R > F5-Add Info

10 Customer Maintenance B - Mail and fax E - F - Fax M - Mail S - Mail and Customer Maintenance > F6-A/R > F5-Add Info

11 Credit Collections Types Accounts Receivable > Collections Subsystem > Maintenance > Credit Collections Type Maintenance

12 Credit Collections Activity Codes Determines if the activity generates a letter. Accounts Receivable > Collections Subsystem > Maintenance > Credit Collections Activity Maintenance

13 Credit Collection Activity Codes Enter the text to appear in the collection letter. You can also include a list of past due invoices. Accounts Receivable > Collections Subsystem > Maintenance > Credit Collections Activity Maintenance > F5-Document Text

14 Follow-Up Collection Activities Type code created in Credit Collections Type Maintenance and assigned to customers. Accounts Receivable > Collections Subsystem > Maintenance > Credit Collections Follow-Up Maintenance

15 Follow-Up Collection Activities The number of days past the customer s oldest invoice date that collections begin Activity codes created in Credit Collections Activity Maintenance Accounts Receivable > Collections Subsystem > Maintenance > Credit Collections Follow-Up Maintenance

16 Follow-Up Collection Activities Number of days after the last follow-up activity that you will take final action. The final action that you will take. Accounts Receivable > Collections Subsystem > Maintenance > Credit Collections Follow-Up Maintenance

17 Follow-Up Collection Activities The override number of days if the customer s balance is greater than the Maximum Delinquent Amount. Past due balance that activates the override number of days. Accounts Receivable > Collections Subsystem > Maintenance > Credit Collections Follow-Up Maintenance

18 Generating Credit Collections Activities Run Credit Collections Nightly Processing Enter notes for scheduled credit collections activities Generate scheduled collection letters

19 Credit Collections Nightly Processing Determines which customers to include and which activity to perform by evaluating: Customer and system options Customer balances The date of the last scheduled activity

20 Credit Collections Nightly Processing Accounts Receivable > Collections Subsystem > Processes > Credit Collections Nightly Processing

21 Credit Collections Nightly Processing Scheduled activities are either: Placed in Credit Collections Schedule Entry Queued for Credit Collections Letter Generation

22 Credit Collection Schedule Entry Lists all customers that have this activity code as their next scheduled activity. Accounts Receivable > Collections Subsystem > Credit Collections Schedule Entry

23 Credit Collection Schedule Entry The customer s account balance information. Accounts Receivable > Collections Subsystem > Credit Collections Schedule Entry > F5-Review

24 Credit Collection Schedule Entry Past due invoices and amounts. Accounts Receivable > Collections Subsystem > Credit Collections Schedule Entry > F5-Review

25 Credit Collection Schedule Entry Any notes that were previously entered for the past due account. Accounts Receivable > Collections Subsystem > Credit Collections Schedule Entry > F5-Review

26 Credit Collection Schedule Entry Notes Type: P - Permanent G - General T - Temporary Accounts Receivable > Collections Subsystem > Credit Collections Schedule Entry > F5-Review

27 Credit Collection Schedule Entry Reviewed: Y Removed from queue N Stays in queue Accounts Receivable > Collections Subsystem > Credit Collections Schedule Entry > F5-Review

28 Credit Collection Schedule Entry Accept the default or assign a new activity and a new date. Accounts Receivable > Collections Subsystem > Credit Collections Schedule Entry > F5-Review

29 Credit Collection Schedule Entry Accounts Receivable > Collections Subsystem > Credit Collections Schedule Entry > F5-Review

30 Credit Collections Letter Generation Sends a letter to all customers assigned to this Credit Collections Type that have a letter scheduled for their next collection activity Accounts Receivable > Collections Subsystem > Processes > Credit Collections Letter Generation

31 Credit Collection Letter on Demand Select the types of invoices to include: All overdue invoices All undisputed invoices Days overdue (enter number of days) No invoices Select invoices Complete list Accounts Receivable > Collections Subsystem > Processes > Credit Collections Letter on Demand

32 Entering/Viewing Collection Notes Enter credit collection notes View, edit, or delete credit collection notes Use the Credit Collections History Inquiry

33 Credit Collection Notes Maintenance P - Permanent G - General (enter the Expiration Days) T - Temporary (enter the Invoice Number) Accounts Receivable > Collections Subsystem > Maintenance > Credit Collections Notes Maintenance

34 Credit Collection Notes Maintenance Accounts Receivable > Collections Subsystem > Maintenance > Credit Collections Notes Maintenance > F5-Notes

35 Credit Collections Historical Notes Maintenance Accounts Receivable > Collections Subsystem > Maintenance > Credit Collections Historical Notes Maintenance

36 Credit Collections History Inquiry Accounts Receivable > Collections Subsystem > Inquiries > Credit Collections History Inquiry

37 Credit Collections Activity Report Accounts Receivable > Collections Subsystem > Reports > Credit Collections Activity Report

38 Credit Collections Activity Report Accounts Receivable > Collections Subsystem > Reports > Credit Collections Activity Report

39 Summary Set up Credit Collections System options Customer maintenance settings Credit collection types Credit collection activity codes Follow up collection activities Generate Collection Activities Run Credit Collections Nightly Processing Record scheduled credit collections activities Generate collection letters

40 Summary Collection Notes Credit Collection Notes Maintenance Credit Collection Historical Notes Maintenance Credit Collections History Inquiry Credit Collections Activity Report

41 For More Information Action Bar Help keys from the Collections Subsystem menu screens Visit Activant on the web: View Educational Services course offerings Browse Documentation Accounts Receivable Manual Search the Solutions database Submit a Support case Professional Services Sales pss@activant.com