It is essential for every business to collect customer payments when they are overdue. There is some unique and robust ERP software that provides you with the functionality of managing your customer payment follow-ups. This software will help you in identifying payments that are late and enables you to send appropriate reminders to your clients. All things considered, follow-up on invoices enables you to get your due payments faster than ever before. A robust commercial equipment manufacturing and distribution software and its intelligent and smart features enable you to avoid getting paid late.
Manage Customer Payment Follow up
Customer Payment Follow-up Management enables you to collect payments from your clients. Business management software providing this facility also helps you to automate all the follow-up steps and trigger those steps at the right time so that you can get paid faster. You can set steps such as setting follow-up calls, emailing customer statements, sending regular letters. Furthermore, you can create a task and assign a salesperson to perform the follow-up operations manually. A smart ERP system can automate the letters for unpaid invoices that have multi-level recalls. Also, you can create and define multiple levels as per your convenience, you just have to go through the menu. Go to the Accounting module and further click on configuration, then go to the follow-up and then follow-up levels.
Once you have defined levels, you can simply get recalls printed automatically every day only by going to the Sales app>Followup>Send Letters and Emails.
Plan a follow-up process
First of all, you need to plan a follow-up process. To activate customer payment follow up you need to go to Accounting then its configuration settings. Now, you can check the box to activate follow-up Levels feature under the Customer Payments section. Now, you have to enable the payment follow-up option from the settings, enable the option; Enable payment follow-up management.
Easily Define Payment Follow-ups Levels
To automate the follow-ups, first of all, configure the follow-up levels using the Accounting module configuration. In the configuration, you need to go to the Payment Follow-ups, and now you can simply define your follow-up plan. Basically, customer payment follow-up levels depend on the invoice due date. Define days of follow-ups, at the first level you can define follow-up in 3 days after the due date, the second level could be 7 days, third could be 15, and so on. Important to realize, for each level you are creating, you must specify the number of days and you can also add a note at each level.
An important thing to do is, you should reconcile your bank statements before starting the follow-up process. As a result, it will help you to avoid the trouble while sending a statement to your customer that has paid already.