Set Up Reminders

Management of receivables includes checking whether amounts due are paid on time. If customers have overdue payments, you must decide when and how to send them a reminder. In addition, you may want to debit their accounts for interest or fees.

You can define an unlimited number of reminder terms to accommodate different reminding procedures. After setting up the reminder terms, you assign a set of terms to each customer. Later, you can create, issue and track reminders.

Note

If you want to calculate interest on overdue payments, you can do so when you create reminders. If, however, you just want to calculate interest and inform your customers about this without sending reminders, you should use finance charge memos. (See the Finance Charge Terms.)

You can set up an unlimited number of reminder terms. Each set of terms is identified by a code.

For each reminder terms code, you can define an unlimited number of reminder levels. For each reminder level, you can specify individual conditions, which can include additional fees in both LCY and in foreign currency. (See the Currency for Reminder Level table.)

For each reminder level, you can specify text that will be printed before ( Beginning Text) or after ( Ending Text) the entries on the reminder.

After you have set up the reminder terms (with additional levels and text), enter one of the codes on each of the customer cards.

The following table describes a sequence of tasks, with links to the topics that describe them. These tasks are listed in the order in which they are generally performed.

To See

Set up codes for sets of reminder terms that you can assign to customers.

How to: Set Up Reminder Terms

Set up reminder levels that reflect how long payments are overdue.

How to: Set Up Reminder Levels

Set up text to be printed on reminder documents, with the possibility of a different beginning and ending text for each reminder level.

How to: Set Up Reminder Text

See Also

Reference

Finance Charge Terms

Concepts

Prepare Reminders
Collect Outstanding Balances