Introduction
Although most customers pay their invoices on time, you need to be able to process invoices that are not paid by their due date.
This topic explains how to manage delinquent customers by configuring the Credit and collections module in Dynamics 365 Finance. To use the Credit and collections module, you should already have completed the configuration of accounts receivable module.
In this module, you will learn how to:
- Configure credit and collections components.
- Configure aging reports, customer pools, collection agents, and aging period definitions.
- Set up and manage interests.
- Set up and manage collection letters.
Terminology
The following list introduces several terms and concepts that are included in the credit and collections management process.
- Collection agent – A person who works with customers to make sure that payments are collected in a timely manner.
- Activity – Activities represent actions that a collection agent may take. These activities are the same types that are used in the Sales and Marketing module.
- Task – An action that must be done in the future.
- Action – An action that was completed.
- Appointment – An appointment in the future that is not completed.
- Event – An event that has already occurred.
- Customer pool – A query that defines a group of customers who will be displayed and managed.
- Aging snapshot – A calculation of the aged balances for a group of customers at a point in time.
- Aging period definition – Open customer transactions are typically aged based on the number of days that they are overdue. A range of aging days represents a period. Several aging periods can be used to better understand the distribution of overdue transactions.