Advantage Financial supplies a wide range of functionality to address the area of collections. Remedies range in order of degree of severity from automatically issuing dunning messages and collections letters, to imposing intercepts on payments to a customer to cover any accounts from that client that are in arrears. The collections area also supports the ability to refer past due receivables to collection agencies, and to write off amounts that are potentially uncollectible.
After you have set up the collections functionality, most collections activity and record keeping is handled automatically by Advantage Financial. The collections process area consists of the following functionality:
Past-due billing - Generating dunning messages and collection letters
Handling intercepts of payments to a customer whose own payments are in arrears