Deposits and Credit & Collections

The account debt monitor monitors deposit contracts just as it monitors every other contract for overdue debt. If the amount of debt on the deposit contract violates your collection criteria, a collection process will start.

It's important to be aware that deposit debt can be treated differently from other types of debt linked to an account by creating a specific debt class for the deposit contract type.

The collection process associated with a deposit contract is probably rather simple - you probably will want a ToDo entry generated to advise an operator that a customer hasn't paid their deposit.

Please see Deposit Seizures When Other Contracts Are Stopped for a description of how the system seizes an active deposit contract when normal (i.e., non-cash deposit) contracts are stopped.

After a deposit contract is stopped, it will be "final billed" the next time the account is billed. Refer to Refunding Deposits for more information about how deposit refunds are "final billed". If a credit balance remains on the deposit contract after it is final billed, the Write-Off Monitor will process the deposit contract just like it processes all unpaid and final billed contracts. If you set up the deposit contract's write-off controls properly (i.e., you plug in the appropriate refund and write-down algorithms), the write-off monitor will refund / write-down the credit balance (thus causing the deposit contract to close).