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

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
Default Receipt Method from Transaction	Enable to determine the receipt method based on a transaction.
Email open transaction copy	Select the appropriate option to resend, or resend and regenerate.
Send or return email address for dunning correspondence	Allows you to specify the email address that will be used as the return address for dunning letters sent to customers.
Maximum number of transactions to send with dunning letters	Controls the maximum number of individual transactions that will be included and printed on a single dunning letter.
Number of grace days before a promise is broken	Defines the number of extra days allowed after the promised payment date before the system considers a promise to pay as broken.
Maximum number of days to make a promise	Controls the latest possible date that a collector can set as the due date for a promise to pay.
Common currency for metric calculations	Specifies the base currency used to standardize all financial metrics.
Past date to be used for metric calculations	Determines the effective date the system uses to calculate collection metrics such as total overdue amount, delinquency status, and aging buckets.
Enable bankruptcy	Allows to record bankruptcy details so that system disables dunning for that customer and collection actions are stalled.
Number of parallel processors	Controls how many parallel processing threads or jobs can run simultaneously for background processing tasks. Typically set to 1, meaning processes run sequentially.
Batch size	Specifies how many customer records (or related entities) are grouped and processed at a time within each thread when executing background collection processes. This setting helps manage memory and processing efficiency by controlling the size of data chunks handled in each processing cycle.

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.

Save or Save and Close to enable your preferences.