How To Setup Debtors
Many aspects of accounts management in Collect! are directly
dependent upon the Debtor form.
This document deals with setting up all of the areas related to
the Debtor form. Several of these topics are covered in-depth in
other Help documents. We will list all of them here, however,
and point you in the right direction to get the details.
Properly setting up the areas related to the Debtor form greatly
speeds up data entry for your operators. The information in
many fields can be entered automatically when the operator
opens the Debtor form.
Overview
You and your collectors will spend a great deal of your time on
the Debtor form, or performing tasks that are directly related to
the information stored in this form.
New users of Collect! are anxious to get right to work and often,
want to start at the Debtor form. You may be surprised to realize
that this is not the most efficient place to start. What settings does
Collect! need, first, and where are they entered?
To use the advice offered here, you must have full access
rights to Collect! so that you can set up all the areas mentioned.
AND you must be willing to take the time to set up Collect!
correctly, right from the start. You will be pleased to see what
Collect! can do for you when it has all the information it needs
in each of the areas related to the Debtor form.
What Needs To Be Set Up?
Many areas are related to the Debtor record. If your needs
are simple, you may be able to use the default settings
provided for many of the areas. For instance, user levels,
status codes, contact plans, transaction types and letters
are shipped with Collect!. These may all be modified as
needed, or you may be able to start right away using them
as is, modifying later as the need arises.
You will want to have all these settings in place before
you begin to enter your accounts in Collect!. That way, you will
be able to make the correct choices, run the correct plans,
assign operators to accounts and post financials.
Company Details
The Company Details form stores important company
information that may be printed in reports and letters.
Tax number, and other company level details are stored
in this form.
Select System from the top menu bar and then select
Company Details to access this form. Press F1 for
details about the fields on this form.
- How to Setup Company Details
Client Settings
Clients are set up through the Client and Client Settings forms.
You can print this information in reports, and also use it for
calculating fees and charges. Also, switches are set in the
Client Settings for reporting Client accounts to credit bureaus.
Whenever you enter a new Debtor for a Client, that Client's
settings are automatically loaded into the Debtor form. Settings
like Commission Rate and Tax Rate can then be applied
automatically to each transaction that is entered for the account.
This is why it is so useful to enter your Clients BEFORE you
enter your Debtors.
Select Browse from the top menu bar and then select
Clients from the drop-down choices to view the list of Clients
or enter a new one.
- How To Enter A New Client
Select the ADVANCED button on the Client form to open
the Client Settings. Press F1 for details about the fields
on this form.
- How To Setup Client Settings
Operators
In Collect!, Debtors are assigned to a collector, or Operator
who "owns" the account. This means that this is the person
who usually works the account. Operators must be set up so
that you can assign Debtor accounts to your collectors.
Then you can assign a work load by creating contacts that
the Operator must work in their To Do List.
Select System from the top menu bar and then select
Rights, Operators from the drop-down choices to view the list
of Operators or enter a new one.
- How To Setup Operators
Status Codes
The Debtor Status list contains various Debtor Status Codes.
These codes assist you to sort, process and categorize your
debtors. The Debtor Status is your way of knowing the current
state of the account, such as NEW, ACT, NSF, SKP, or PIF.
Use Status Codes to filter data for reports and batch
processes.
Select System from the top menu bar and then select
Contact Management Settings, Status Codes from the drop-down
choices to view the list of Status Codes or enter a new one.
- How To Setup Debtor Status Codes
Contacts Scheduled
The Contact is the interaction that you have with your Debtor
account. In order to be an active part of your daily business
processes, Debtors must have contacts scheduled for them.
When a Debtor is first entered into your database, you must
also enter an initial contact. These include letters, phone calls,
and file reviews, for instance. Each contact has a date when it
is to be performed.
Contacts are always assigned to an Operator. This is the
way that Collect! manages your day to day business and
the scheduling of collector work loads. Each contact is assigned
to an Operator and appears in that Operator's Work In Progress
To Do List ( WIP list) when the Operator signs on to Collect!.
Select the Contact tab on the Debtor form and then select NEW
to create a new Contact.
- How To Schedule Contacts
Contact Plans
Contact Plans are powerful and excellent for automating
numerous aspects of your operations, such as scheduling
letter series, file reviews, phone calls, status changes,
writing notes and many other actions.
You can set a contact plan to run automatically on each new
account entered in your system. You can also run a plan
as needed on one or several accounts depending on criteria
that you set.
Collect! ships with many samples and you can create your
own plans.
Select System from the top menu bar and then select
Contact Management Settings, Contact Plans, View.
- How To Use Contact Plans
Transaction Types
Transaction types are used to categorize the Debtor transactions
that you post, such as payments to the agency, precollect charges,
and NSF fees. Several types are already set up for you. Each
one has different settings appropriate to the type of transaction
it describes. You can use the default types or create your own
custom settings for the types of transaction that you need.
Select System from the top menu bar and then select
Financial Settings, Transaction Types to view the list of
available types in the system.
- How To Setup Transaction Types
Financial Transactions
There are many kinds of financial transactions. These are
categorized by transaction types. Before you post transactions,
you will want to have a plan in mind for the transaction types that
you will use. Keep it simple, to start. Transaction types have
many options that can be set up to automatically load into the
transaction that you are posting. For instance, some transactions
must be included in the Client statement. Others are to be omitted.
Select the Transaction tab on the Debtor form to view Transactions
already posted on the account. Press NEW to post a new one.
- How To Post A Transaction
Mode
This is a very important field. The setting you choose here affects
contact management and financial calculations. Click the field
or select the arrow to choose one of the following modes.
Active - activates the account.
Closed - closes the account and deletes all pending Contacts,
UNLESS a Contact has the switch "Do not autodelete" set.
However, Promises and Transactions will be marked completed
when an account is closed, regardless of the "Do not autodelete"
setting.
Precollect - treats the debtor as 'Closed' but does not
delete Contacts.
Suspend - treats the debtor as 'Closed' but does not
delete Contacts.
Mode And WIP List
Only ACTIVE accounts appear in WIP lists.
CLOSED or SUSPENDED accounts do not show even
if they have contacts scheduled for the day.
Mode And Recalc
RECALC is not done on CLOSED accounts, but accounts
with other modes are recalculated. The only exception is
when a payment is posted - if the account is closed then
the total is still recalculated.
Basically, if you close an account, its financial figures
are frozen where they are at the time you closed the
account, unless a payment is posted, at which time,
and only then, a Recalc actually alters the Owing.
Closed Mode And Interest
When you close an account with interest, Collect!
posts a Total Accrued Interest transaction, Type 499,
for all interest that has accrued over the time that you
have been calculating interest on the account. If you
should re-open the account at a future date, this
record can be used to start up interest calculations
again.
Collect! needs Transaction Type 499, with
the correct settings, to perform the calculations. If you do
not have Transaction Type 499, you can copy it from your
Demonstration database or request it from Collect!
Technical Services.
Debtor Details
The Debtor Detail form allows you to store additional information
about this Debtor. It is a good idea to plan in advance how you
will use this form. That way you can be consistent in your record
keeping. One common use is for bank account information,
especially when using Check Taken By Phone.
Select the Detail tab in the Debtor form to view Debtor Details.
Fees And Commissions
Many aspects of fees, charges and commissions can be
set up before you begin to post payments and other
financial transactions. There are several places where this
type of information can be entered and used as default values
when new accounts are entered.
- Company Details
- Client Settings
- Financial Detail
Please refer to each of those topics for details.
Commission Rate Plans
Commission Rate Plans allow you to define a variable sliding
commission rate for accounts, based on account age, owing,
paid or payment amount. Several Commission Rate Plans have
been set up for you already. You can also create your own.
Commission Rate Plans in the Demonstration database can
be copied to the Masterdb database.
- How To Create A New Commission Rate Plan
Tax Rate
Tax rate is calculated using the percentage in the Financial Detail
form available when you click in the Rate field on the Debtor
form. This field must have a value in it if you wish to
calculate tax on your transactions for the debtor.
New debtors will have this field filled automatically from the
value set in the Client Settings form.
Select the Principal field in the Debtor form to open the
Financial Detail form. Select the Tax tab.
Interest
If you want interest to be calculated for a given Debtor, you
must enter an interest rate for the account.
Select the Principal field in the Debtor form to open the
Financial Detail form. Select the Interest tab.
Account Matching
There are several reasons to group accounts:
* You might attempt to list a new debtor for a particular client.
This debtor may also have accounts that are in arrears with
several of your other clients. By setting defaults for
account matching, Collect! can automatically detect your attempt
to enter, as a new account, information that is already in
the system.
* You may realize that several of your accounts are related and
you may wish to view them together. For instance, you may
discover several debtors who have the same cosigner. You can
manually group these accounts together.
* You may have one outstanding debt, such as a funeral home
bill, with several debtors who could be responsible to settle
the account. You can manually group these accounts together.
* You may want to run a batch processing routine to look for
matching accounts after importing a group of accounts.
These examples indicate three ways of grouping accounts:
1. Automatically through settings and applied whenever new
accounts are entered
2. Manually on an individual basis
3. Through settings in batch processing routines
Debtor Cosigner
The Debtor Cosigner form shows the Cosigner's name
SSN number, home phone, work phone, address, and
two flags indicating if the Cosigner has the same
address as the Debtor and is the Cosigner's address
valid. This form can be used for many other purposes.
Examine the Class and Type fields, and be aware that
you can define your own types and classes of Cosigners.
Select the Cosigners tab on the Debtor form to view
Cosigners or enter a new one.
- Debtor Cosigner
Attachments
The Attachment form may be used to record other
information about a debt or Debtor. This feature lets you
attach any kind of information or even different files to
your accounts in Collect!. Several of the fields are indexed
for fast retrieval when reporting or calculating.
- How To Use The Attachment Form
Credit Report Settings
When you select the CBR tab on the Debtor form, the
Credit Report Details form is displayed. You can switch
on ' Report to Credit Bureaus' for this Debtor.
However, it is necessary to setup your Credit Bureau
reporting before you use this switch.
- Credit Bureau Setup
Reports And Letters
When you schedule letters with a letter contact, you are offered
a list to choose from. These are all the letters that exist in
your database.
In the Demonstration database, there is a variety of letters
and reports that you may be able to use without modification
in the initial stages of your contact management. There are
also additional letters available in the Member Center.
- How To Copy Reports To Master Database
- How to Print A Sample Report Or Letter
Pick Lists
If you would like to ensure that your operators enter information
correctly in particular fields on the Debtor form, consider attaching
a pick list to these fields. You can easily define valid values and
formats. Your operators need only pick from the list.
- How To Use Pick Lists
Advanced Topics
Other settings that can be defined before you start
entering information include the following.
- Payment Posting Options
- Payment Plans
- Batch Processing Routines
- Control Files
- Field Aliases
Please refer to Help topics for more information
about these features of Collect!.
Summary
This topic introduced you to many areas where you can customize
Collect! to use your particular settings when you enter new accounts
in your database. We recommend that you start simply, using the
defaults provided to get started and modifying as the need arises.
See Also
- How To Start Using Collect!
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