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also:
AR
Features
Feature Guide -
Clients & Billing (49.9 mb PDF) |
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The
Collection Manager is a terrific tool for improving
how you get paid. It’s like a Daily Job
Status report for your unpaid invoices, listing
everything owed to you by your clients.
When the Collection Manager window
is opened, it lists every posted, unpaid invoice
from Accounts Receivable. Every invoice for every
account executive or account team is included.
Receivables are color-coded by age, highlighting
the problem invoices so that they can get the top
priority by the billing department.
Use the collection status to track what you’ve done to get an invoice
paid, similar to the billing work flow for unbilled jobs. The different
statuses methodically walk through the collection process until the invoice
is paid—or written off as uncollectable.
Only users with access privileges to
the Collection Manager can open this window.
To use the Collection Manager
1 Choose Accounting > Collection Manager.
The Collection Manager window opens, displaying the shop's unpaid invoices
(which may take a few moments if you have a large number receivables).
Invoices are grouped together by client then sorted by invoice number.
For each invoice you’ll see its billing date, due date, total billed,
balance due, and payment status. Clicking on an invoice displays its
billing, payment, and collection status in the tab area at the bottom
of the window.
To see unpaid invoices for a specific client, choose the client name
from the pop-up menu.
Clicking on an invoice in the Collection Manager displays billing and
payment details. Clicking on a tab displays the invoice description,
payment status, past collection actions, and the next collection action.
To change an invoice's payment status
1 Click on an invoice in the collection
manager list.
2 Click on a tab to see or edit an invoice's
payment status.
The payment status classifies each invoice by the last collection follow-up.
Newly posted A/R
invoices automatically get the invoice sent payment status. When an invoice
is paid, it stops appearing on the Collection Manager. Color coding identifies
each invoice’s age. Invoices less than 60 days past due appear
in green, while invoices less than 90 days old appear in yellow. Invoices
past due 90 days or more appear in red. In addition, an optional payment
status note can be included to better explain the invoice’s payment
status.
About This Invoice shows the invoice’s
billing type (e.g., progress/final billing, estimate
billing, advance billing, etc.), the client contact
to whom the invoice was billed, the invoice’s
job number, the invoice description, who added
the invoice, and the invoice’s days until
due (or past due).
Payment Status displays
the invoice’s current status, which you can
change by selecting a status from the pop-up menu.
In addition, you can enter an optional note to
document more about the invoice’s payment
status. To change an invoice’s collection
status, enter your changes then click on another
tab or click on a different invoice in the list,
which will prompt you to save the changes.
Collection Actions lists prior phone calls,
letters, and meeting notes from the client diary
that were added with an invoice number.
Next Action lets you schedule
a follow-up phone call, letter, or e-mail for the
selected invoice. You can assign an upcoming collection
action to any staff number (for example, the client’s
account executive) by entering their initials in
the “by” field. These collection actions
will appear on the Accounting Calendar and in the
staff member’s personal calendar. To change
an invoice’s next action, add your changes
then click on another tab or click on a different
invoice in the list, which will prompt you to save
the changes.
To change the payment status for several invoices at once
Clicking the change status button will update the payment status on one
or more selected invoices. The payment statuses documents what has last
happened to get the bill paid. They are preset in Clients & Profits
X (they can’t be customized) and are arranged in roughly the order
they should be performed.
The standard payment statuse include: Invoice sent, courtesy
call, resent invoice + reminder, sent statement, follow-up
call, account on credit hold, sent demand letter, last
chance call, sent FINAL NOTICE, payment doubtful, sent
to collections, write-off, and disputed billing. These
statuses can't be changed and new statuses can't be added.
To print the Collection Manager report
The hard-copy report of the Collection Manager window subtotals all unpaid
receivables by client.
1 From the Collection Manager window,
click on the Print button or choose File > Print
Collection Report.
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