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Summary

This article describes the configuration and actions that Credit Ratings perform on accounts. Credit Ratings and their sub component of 'Payment Terms' define the rules with which accounts are processed and assessed penalties for overdue invoices. These include sending of emails, late fee charges on customer accounts, the creation of notification tickets and other actions.

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The default credit rating exists after install and you can create extra credit ratings as required.

1. Click the Setup tab

2. Select the Credit Ratings option

3. Click the Add button in the lower right

4. Enter the following information in to the fields provided:

   • Name - a descriptive name for the credit rating which will be applied to accounts

   • Terms - this sets the due date on invoices. The due date is determined on the date it is closed and based off that date. The term can either be a fixed day, or a time period. A term of +30 will set the due date 30 days from invoice date (not close, or sent or created dates). A term of 10 will set the due date on the 10th day of the month (e.g. if the invoice close date is Jan 1st, the Due Date will be Jan 10th, if the invoice is closed on Jan 11th, the Due Date will be Feb 10th). Entering +0 in this field will set the invoice as Due On Receipt (due on the invoice date)

   • Sort Order - represents the order in which items will be displayed in their respected drop down menus through out the application. This is an optional field where the lowest number will display its value at the top of the list

5. Click Save to save the credit rating, or Save/New to save and create additional credit ratings

6. Next to setup Payment Terms, click on the name of the credit rating you created:

   1. Under Payment Terms click Add (Payment Terms are the rules that will fire in sequence as added)

   2. Enter a number in the Days Overdue field

   3. Select the Action to take place (Charge Late Fee, etc.)

   4. Select whether this item is Active or not

   5. Click Save

   6. If prompted with a profile question enter the proper information and click Save (see 'Adding Action Scripts' below for more information)

   7. Click Add again under payment terms to add a new one to build up your list of terms

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Actions are scripts in the system that perform various tasks. The default system actions can be found by going to the Setup tab -> page / Actions link

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1. Charge Late Fee - Applies a late fee (example below, a 5% late charge of the invoice balance). GL codes can be applied as well to late fee charges by editing the 'Charge Late Fee' action script, see the Action Scripts Listing article for details

   

2. Open Ticket - Configures EngageIP to automatically create and assign a ticket. If for example, you would like someone in a specific department to follow up with the customer

   

3. Send Email - Sends an email to the users billing contact following the format of the email you select
   Note: email messages are setup in the Setup tab -> page / Communication Services -> / Email Messages section
   

4. Set User Status - Automatically sets the user status to a status you choose. When the user status is changed the system will not add a transaction, the balance will be left as is (assuming there was no late fee applied as part of previous action that was triggered)

   

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1. Search for and load the appropriate account

2. Click on the Tools tab

3. Under the Account Settings section click on Credit Rating

4. Select the appropriate Credit Rating for the account from the drop down menu

5. Click the Save button

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The refund under the Account's Transactions tab > page / Credits would appear as shown below:

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Tracking Credit Rating Activity

1. Click on the on Reports tab

2. Under the Owner Reports heading click the Event Log

3. On the Event Log table that loads click on the heading 'Action' and enter a Filter of 'ProcessPaymentTerms' (this will return all the payment terms being executed on and which user they are associated with)

4. To find more detail relating to actions, e.g. to see a snippet of the email that gets sent when the 'Send Email' action fires, you can then filter the report by date range using the first and last date you see in the event log after filtering. This way you can get a full list of actions that have processed that may or may not be related to payment terms

5. Finally, to confirm what has happened on specific accounts:

   1. Click on the account link

   2. Once on that customerthe account is loaded, click the Reports tab

   3. Under the Account Reports heading click the Event Log

   4. Scroll through to see all the actions taken directly on that customer account

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