New Credit Management – Dunning module
We are pleased to announce the availability of the new Credit Management – Dunning module.
This module supports the creation of Dunning letters; reminder letters that are sent to customers that have sales invoices overdue for settlement.
The Credit Management – Dunning module allows you to create a sequence of dunning letters. Each sequence can be customer specific, so that you send reminder letters that are appropriate for that particular customer, taking into consideration any grace period that you may wish to allow certain customers.
Additionally, the module allows you to automatically charge
- Dunning Fees,
- Fines for Late Payment and
- Interest on Arrears,
on those overdue invoices based on a number of flexible parameters. The fees and interest that you charge can be specific to certain types of customer, resulting an an extremely flexible solution.
The module keeps a full Dunning history, allowing you to quickly and easily establish what reminders have been sent to a particular customer for a particular invoice. It is also possible for a Credit Manager to quickly and easily mark an invoice as deferred if a deferral agreement has been reached with a customer
The Credit Management – Dunning module is fully compatible with Advanced Payables and Receivables. More information on the Credit Management – Dunning module can be found here.
The Credit Management – Dunning module was made Generally Available on 18 October 2010 and is a commercial module available exclusively to Professional Edition subscribers.