Understanding Microsoft Dynamics 365 Finance Collections Coordinator Workspace

Posted on: September 14, 2023 | By: Fred Liu | Microsoft Dynamics AX/365, Microsoft Dynamics Manufacturing

In the intricate world of finance, collections coordinators, also known as collections agents, are pivotal. These professionals spend their days engaging with customers who have pending balances. Their roles necessitate a clear understanding of numerous customer data points like aged balances, recent payments, outstanding invoice amounts, etc.

Collections agents no longer have to switch between multiple pages and lookup menus to collect all this information. Microsoft Dynamics 365 Finance Collections Coordinator workspace facilitates this process.

Enable the Collections Coordinator Workspace

Setting up is straightforward:

  • Navigate to the Feature Management Workspace.
  • Search and pick (Preview) Collections Coordinator Workspace.
  • Click on Enable.

A Deep Dive into the Collections Coordinator Workspace

Once inside, collections coordinators are presented with a detailed overview of relevant collection data for their assigned customers. For those set up with a default collection pool, the system auto-fills the ‘Pool’ field, simplifying the process.

The workspace tailors the customer account list based on the collections agent’s assigned pool. However, in the absence of pool utilization, all customers become selectable from the list.

When a customer is selected, their name appears alongside a credit rating. This header also provides a snapshot of their payment history and overdue balance up to 60 days prior.

Key Tabs and Features:

  1. Overview Tab:
    • Provides detailed insights into the customer account, including aged balances and other essential customer data from Finance.
    • The chart here displays aging bucket summaries for both current and overdue amounts.
  2. Data Points:
    • Active contracts, outstanding invoices, the tenure of the customer, credit limits, remaining credit, and account status are all meticulously laid out for the selected customer.
  3. Open Transactions Tab:
    • View unresolved customer transactions.
    • Collections options here include Change Status, NSF Payment, Write-off, Settle, Reprint, and View Collections History, mirroring the options available on the View Customer Collections Details page.
    • The Due Date column has been introduced for transactions for added clarity.

Customer Timeline: An Invaluable Tool

The Customer Timeline section is a chronological treasure trove of all customer-related transactions from the last year. From posted invoices and received payments to collection letters and other activities, everything is captured here. Here’s a brief on what you can expect:

  • Invoices: You can see details like the posted date, invoice number, transaction amount in the currency, and the due date. Pro tip: Hovering allows a deep dive into the invoice journal.
  • Payments: Lists posted date, voucher number, and transaction currency amount, with a hover feature taking you straight to customer transactions.
  • Collection Letters: Display the posted date, collection letter number, sequence, and amount with currency. Hovering over it gives access to the collection letter journal, shedding light on the fee amount.
  • Activities: All tasks, appointments, events, and actions get listed here. Each entry is detailed, and the hover feature offers an in-depth look, linking back to the original activity.

Next Steps:

If you want to learn more about Microsoft Dynamics 365 Finance collections coordinator workspace, contact us here to learn how we can help you grow your business. You can also email us at info@loganconsulting.com or call (312) 345-8817.

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