Documenting Collection Calls in QAD's Enterprise Applications

Posted on: January 27, 2010 | By: SuperUser Account | QAD Financials

Accounts Receivable collections are a process fraught with telephone conversations and follow-up activities. An effective collector makes timely calls, sends timely emails and sends statements of accounts to customers where accounts are past due. This chronological communication string must be documented. This documentation set will provide the following:
· Progress on the collection of the account.
· Primary and Secondary contact for customer in collections.
· Documentation of; when collection calls were made, the customer contact on the collection call, and a documented promise to pay from the customer.
· Evidence that the collector is actively making their calls to the past due accounts.
· The ability for another collector to pick up the process if a primary collector leaves the organization.
In QAD’s Enterprise Applications, within the Customer Credit Review/Update program, your collectors can document their collections calls. The functionality assumes the AR Aging report is the primary collection report used by your collectors. The collector assembles the list of past due invoices from the aging. The collector conducts the collection call and should documents the following ( in a standard format) :
· Date and time of call.
· Customer contact name.
· General notes from the call.
· The promise to pay date.
· A determination to factor the account.
In Customer Credit Review/Update, the collector enters their notes against the first invoice associate with the group of invoices in the collection call. When the Aging is printed, the collection notes are displayed on the aging. When the invoice is paid, the invoice will fall off the aging along with the associated collection notes.
For more information regarding setup of this functionality, you can contact:
Andrew Vitullo, CPA
Principal, Logan Consulting
312-345-8834



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