Creating Collection, Severance & Write-Off Procedures
Your collection procedures define how your organization collects overdue debt. Your severance procedures define how your organization severs service agreements when collection attempts fail. Your write-off procedures define how your organization writes off finaled debt. In this section, we describe how to set up the data that controls these procedures.
For more information about collection, severance and write-off procedures, see The Big Picture Of Credit & Collections (C&C).
There are innumerable ways to design your collection, severance and write-off procedures. Some designs will result in easy long-term maintenance, others will result in maintenance headaches. In this section, we provide information to help you understand the ramifications of the various options. Before you set up your production collection, severance and write-off procedures, we encourage you to gain an intuitive understanding of these options by using the system to prototype the alternatives.