Understanding Credit and Collection Information for Customers

Before the system can generate delinquency fees, delinquency notices, and workflow messages, or update credit information, you must assign various credit and collection information to the customer record. You can do this for an existing customer or when you enter credit and collections information for a new customer.

You can specify this credit and collection information in the customer record:

• A delinquency policy for the customer.

  If you do not manually assign a policy to a customer, the system automatically assigns the default policy (standard) for company 00000.

• Credit limit for the customer.

• Credit and collection manager assigned to that customer account.

• Whether delinquency notices are generated.

• Whether delinquency fees are generated.

• Whether the customer can be placed on the collection report for external collections.

• Whether statements are generated.

After setting up delinquency policies and assigning them to customers, you can review which customers are associated with each policy. For example, you can use the Policy Cross Reference form to review which customers are associated with the standard policy.