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AR Collections Process

  • 1.  AR Collections Process

    GOLD CONTRIBUTOR
    Posted 16 days ago
    ​​Hello,

    We are working on creating an AR collections process for our company. Is there any functionality in GP that would help notify us if an invoice is past due? How do others use GP to help manage this? Thanks!

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    Amber Schmoll
    Accounting Supervisor
    Milk Source LLC
    Kaukauna WI
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  • 2.  RE: AR Collections Process

    SILVER CONTRIBUTOR
    Posted 16 days ago
    ​Professional Advantage Collection Management module. You may already own the tool. Have system admin check your Dynamics Registration keys.

    Collections Management for Microsoft Dynamics GP
    Profad remove preview
    Collections Management for Microsoft Dynamics GP
    Improve efficiency by centralizing contact and collection information in Microsoft Dynamics® GP and automating the collections process with Professional Advantage.
    View this on Profad >




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    Anthony Pearson
    Application Systems Administrator
    WellDyneRx Inc
    Tampa FL
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  • 3.  RE: AR Collections Process

    TOP CONTRIBUTOR
    Posted 13 days ago
    Hi Amber,

    Anthony has a point, you may own the Collections Management module but it also may be overkill depending on what you want to achieve.

    Part 1 - Collections Mgmt. module.
    When did your company start using Dynamics GP? If you're not a recent new customer, chances are pretty good that you may own CM. This article has some of that history but long story short for a lot of years CM was part of GP and then in 2013 it was sent back to Professional Advantage to once again sell & maintain it.

    https://blogs.msdn.microsoft.com/gp/2013/02/08/collections-management-for-microsoft-dynamics-gp-transitions-back-to-the-original-independent-software-vendor-isv/

    That module is has pretty complete collections functionality, particularly around recording collections activities (when you sent emails, phoned them, what invoices you referenced when you did that etc.).

    Part 2 - identifying an overdue invoice
    From a super basic point of view, what you are asking is out of the box with Dynamics GP and smartlist reminders. In fact this is one of the "pre-built" tasks you can enable because it's such a common request.

    From your home page, go to Customize This Page > click the blue arrow beside To Do > click the blue arrow beside Microsoft Dynamics GP Reminders. In here on the top section are canned reminder options for users (and each user who wants them needs to enable them under their own login). For this "Overdue Invoices" is what you are likely looking for, you can choose when you're reminded (based on 0 or more days after the due date) and whether you want the reminder displayed with a visual cue or not (an icon representing how many items are overdue - varying sizes of stacks of paper!).

    I hope this helps.

    Jen

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    Jen Kuntz, CPA, CGA, Microsoft MVP (Business Applications)
    Manager, Business Solutions
    Energy+ Inc.
    Cambridge, ON, Canada
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  • 4.  RE: AR Collections Process

    TOP CONTRIBUTOR
    Posted 13 days ago
    Another popular solution is by Dynavistics called Collect-IT.   Check it out:  Collect-IT: Accounts Receivable Management & Collections Software
    Dynavistics remove preview
    Collect-IT: Accounts Receivable Management & Collections Software
    Well that will probably never happen, but collect-IT can help make it closer to a reality. The collect-IT accounts receivable and credit collections management software lets you know the answer to "where's my money?" With collect-IT, all the accounts receivable information that could fall through the cracks is kept front and center, where you can act on it.
    View this on Dynavistics >


    The team at Dynavistics can help explain about best practices and why a solution will help you stick to the processes.

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    Kim Peterson
    218-862-5002
    Kim@DynamicsConnections.com
    #KimPetersonGP
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  • 5.  RE: AR Collections Process

    TOP CONTRIBUTOR
    Posted 13 days ago
    @Amber Schmoll - if you are looking for something already inherent in GP, you could use Business Alerts. If you aren't familiar, Business Alerts allows you to give GP specific criteria and it will alert one or more users when the criteria are met. One of the pre-defined alerts in GP is RM ​PAST DUE.

    You'll need to be logged in as the sa user, and then navigate to Tools/Settings/System/Business Alerts and you'll see the following screen (after choosing to modify existing alerts):


    Highlight the RM Past Due and click Next to see more detail. For the most part, I'd leave as is until you get to the Alert Notification screen:


    Here, you can determine if how you want to be notified. Email, will email a (very unpretty) txt report to whoever you'd like, with info on the alert (you can determine the fields included in the report). User ID simply puts the notification on the users homepage as shown below. You can also do a combination of both methods. Hope this helps!



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    Tiffany Ziegler
    Vice President & Controller
    Velcor Leasing Corporation
    Madison WI
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  • 6.  RE: AR Collections Process

    Posted 12 days ago
    Hi Amber,

    I am the Channel Product Manager at Professional Advantage for the aforementioned product, Collections Management (CM). CM is a Microsoft Dynamics GP add-on that is designed to reduce your Days Sales Outstanding and help collect on your past due and upcoming receivables.

    If you're interested, I'd be happy to show you a demonstration of the product - I'd need about 45 minutes to show you the functionality. I'd be happy to answer any questions you may have regarding the product. Please feel free to reach out at any time! (griffin.swanson@profad.com)

    Thank you, Anthony & Jen, for mentioning Collections Management, we greatly appreciate it!

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    Griffin Swanson
    Channel Product Manager
    Professional Advantage
    Greenwood Village CO
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  • 7.  RE: AR Collections Process

    Posted 10 days ago
    ​Hi,

    We use Collections Management.  I love this tool.  I am able to create different 'Letters' for different criteria based on the amount of money due, the date due, …  I am also able to restrict certain invoices which are in dispute.  For us, this tool has saved us time and made us money.

    Good luck,

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    Kathleen Bauer
    Ohio Shared Information Systems
    Cincinnati OH
    ------------------------------