How Are Write-off Events Canceled?

The system removes a contract from a write-off process when its status becomes closed (i.e., when its balance is zero). Be aware that any type of financial event could cause an contract's balance to fall to zero (e.g., the creation of an adjustment, the application or cancellation of a payment, the cancellation of a bill,...). When all contracts are removed, the system cancels all pending write-off events and deactivates the write-off process.

Note: Real time cancellation. Unlike collection processes, the system cancels write-off processes real time when the contract becomes closed (i.e., there is no background process that monitors write-off processes).

Besides the automated cancellation process, an operator may cancel a write-off event at will.

Note: Removing closed contracts from a write-off process. contracts aren't actually removed from the process. Rather, they are inactivated so a proper audit exists.