Configuring Global Settings for Account Status Debt Bands
After completing this lesson you should be able to:
- Setup 4 levels of debt warnings
A key part of any financial collection system is the ability to categorise debt (i.e. unpaid charges) by how long it remains unpaid. As the debt gets older your collection efforts will be escalated to the point where you may be forced to pass the debt to a professional debt collection agency, or write off the debt as ‘unable to collect’.
Once set up, debt bands will allow you to quickly assess how much debt you have and how long each charge has been outstanding. As the debt ages it will automatically move through each stage which will have a corresponding contact process for trying to get the charge paid off. LeisurePoint allows you to configure 4 levels of debt by age.
Once configured, debt bands are used in the following areas:
Front Desk Checkin - When a member checks in, the system will notify reception if the member has charges that are outstanding and need to be paid. The Front Desk operator can then collect the payment prior to allowing the member into the facility.
Member Finance Screen – The Account Summary screen contains a box showing the total debt in each band for the member, along with total debt.
Aged Debt Report – This report shows which members owe you money and uses the debt bands to categorise the amount of debt in each debt band.
Advanced Find – In the Statements view you can select a debt band as a parameter and search for which contacts have money outstanding in the selected debt band. You can then use an item in the Actions menu on the resulting list of contacts. Available Actions include Export to Excel, send a bulk email, generate a mail merge letter, send bulk SMS, print statements and add results to a list.
To set up debt bands
Click Tools on the Configuration Manager Menu Bar and select Options to display the Options dialog box.
Click the Financial Options tab to display the debt bands setup screen.
Each band already contains default data for code, description and Days after charge date. You can either accept these defaults or enter your own details if you would like to make a change.
Once you have finished editing the debt bands, click the OK button to confirm your changes. You will then be returned to the main Configuration Manager Screen.