Types Of Collection Events
Type Of Collection Event | What Happens In The System |
---|---|
Send Letter |
A customer contact is created for every financially responsible person linked to the account. The customer contact causes a letter to be produced. The type of letter is defined on the customer contact's contact type. The recipient of each letter is defined on Account / Person (those persons marked as Receiving Notifications). |
Create To Do Entry | A To Do entry is created. Refer to The Big Picture of To Do Entries for more information about To Do entries. |
Affect Credit Rating/Cash-Only | An account credit rating demerit record is created. The number of demerits is defined on the collection event type. |
Cancel Budget | Every contract linked to the account that is on a budget is "removed" from the budget (i.e., the recurring charge amount for the contract is set to zero). In addition, a syncing adjustment is issued to cause each contract's current balance to be set equal to their payoff balance (the adjustment type is defined on the contract's contract type). |
Generic Algorithm | The algorithm defined on the event's event type is executed. |
Fastpath: Refer to Setting Up Collection Event Types for more information.