1. Implementing Receivables Credit to Cash
  2. Define Collections Preferences

Define Collections Preferences

This example demonstrates how to set preferences for Oracle Fusion Advanced Collections.

You have been tasked to set up the two sections for preferences: Global and Preferences. Configure your preferences based on the following requirements:

  • Your company requires collectors to review transaction that are 90 days past due and current ones 30 days into the future.

  • Collectors review customers by account and send out past due notices by E-mail.

  • Notices are sent to the accounts payable manager if no contact information is available.

  • Reviewing a customer's history requires viewing current and closed transactions.

  • Your company allows up to two days for rescheduling work on the dashboard.

  • Adjustments and disputes are handled within 1 business day of being recorded.

  • Credits on an account are summarized.

  • Aging is displayed by a 5 bucket aging method.

  • The conversion rate is based on a rate set by the corporation.

  • The delimiter symbol used to separate data is a pipe.

  • A three-character minimum is required and recommended to perform a search on customer accounts.

  • Allow updating invoice attributes and contacts on the transactions directly in collections.

Use the following tables to define the two sections for preferences:

Configuring Collections Preferences

  1. Defining Global Preferences

    Field

    Value

    Select the default Transaction Type for the Transactions tab

    Select Invoice, other transaction choices are all, credit, or debit memos.

    Automatically display closed transactions on Transaction tab

    Yes is selected to view closed transactions as part of the customers history.

    Automatically display current transactions on Transaction tab

    Yes is selected to view current or open transaction the customer has pending.

    Enter the number of days before the current date the transaction date range should start

    In this example, 90 days gives the collector 3 months of history. 1 to 9999 is the range that can be used.

    Enter the number of days after the current date the transaction date range should end

    30 days of current or open transactions are displayed. 1-9999 is the range that can be used.

    Enter the maximum number of days work can be rescheduled on the dashboard

    Two days is the allowable change in schedule for work. 1-9999 is the range that can be used.

    Enter the number of days after submitting an adjustment or dispute that an activity is generated

    One day generates the disputes and adjustments. 1-9999 is the range that can be used.

    Select the default Aging Method

    5 Bucket Aging, several aging buckets can be defined and may be available.

    Enter the delimiter used to separate customer, account and site on the Collections Dashboard

    The pipe symbol, other available choices are the greater than, dash, and colon symbols.

    Enter the minimum number of characters required to perform a search

    Three characters is the Oracle recommended number for a search. 1-9999 is the range that can be used.

    Enter the sender or return E-mail for dunning correspondence

    The default return E-mail for customers to respond

    Allow collector to update transaction attributes
    Yes is selected to allow updating the below fields on the Collections page:
    • PO Number
    • Bill to Contact
    • Comments
    • Translated Description Field
    • PO Revision
    • PO Date

  2. Defining Preferences

    Preferences Table Column Name

    Field Value

    Collections Preference Set

    Select the value; Common Set.

    Select the Collections Business Level

    Account, other choices are customer and site.

    Select whether open credits should be aged or summarized by default

    Summarized, credits can be displayed as aged.

    Select the conversion rate type for converting multicurrency transactions

    Corporate, several choices can be defined and are displayed.

    Select the default method to send collections notifications

    Select E-mail, other methods are fax or print.

    Enter the default contact for unknown dunning recipients

    Accounts Payable Manager. User defined if no contact is listed.

    Correspondence Table Column Name

    Field Value

    Collections Preference Set

    Select the value; Common Set.

    Send Adjustment Notice

    Select yes to notify the customer of adjustments made to their account.

    Adjustment Template

    Select the delivered template.

    Send Dispute Notice

    Select yes to notify the customer of disputes made to their account.

    Dispute Template

    Select the delivered template.

    Send Payment Notice

    Select yes to notify the customer of payments made to their account.

    Payment Template

    Select the delivered template.

    Send Promise Notice

    Select yes to notify the customer of promises to pay on their account.

    Promise Template

    Select the delivered template.

  3. Save or Save and Close to enable your preferences.

Related Topics