Summary
You can define several procedures for collections letters and interest calculation, including:
- Applying the same setup for all customers.
- Having different options for different groups of customers.
- Allocating a specific setup to each customer.
- Combining all of the three levels noted above.
Because Finance is a multi-language application, all external documents can be stored in the language that is defined for a particular customer, such as the following:
- Account statements
- Interest notes
- Collection letters
Collection management processes are simplified to help streamline work, and to make the processes more understandable. Some of the features in collections management include:
- Collection agents and customer pools.
- Aging period definitions and aging snapshots.
- Forms for managing collections.
- Integration with Sales and Marketing for tracking activities.
- Ability to write off transactions and process Not sufficient fund (NSF) checks.