Setting Up Collection Classes

Every account has a collection class. This class is one of several fields that control the collection method applied to the account's debt. Open Admin Menu, Collection Class to define your collection classes.

Description of Page

Enter a unique Collection Class code and Description for each collection class.

The following three collection methods indicate the method used for monitoring the unpaid debt of the member accounts.

• Collection and Write-Off - Used when you practice balance-forward accounting for accounts that belong to this particular collection class.

  Note: The Collection and Write-Off method is described throughout this chapter.

• Overdue - Used when you practice open-item accounting for accounts that belong to this particular collection class.

  Note: The Overdue method is described under Defining Overdue Processing Options.

• Not Eligible For Collection - Used when accounts belonging to this collection class are not subject to either of the above collection methods.

  Note: Such accounts are not reviewed for overdue debt.