PAC - Overdue Arrangements
Overdue Arrangements Overview
This program is used to add, view and edit any overdue payment arrangements against parent accounts. It is a simple extension to the parent accounts database that would typically be used for considerably overdue accounts.
An example might be that a parent has an account balance of $7,000 of which (in negotiation with the parent) it is agreed that $5,000 is considerably overdue. The parent agrees to make monthly payments of $1,000, the first being due at the end of this month.
Using the search engine, the overdue arrangements officer can then run a weekly list of arrangements that should have been honoured during the period. The officer can drill down on the arrangement and see if a receipt has been received during the period. If not it can be followed up. If it has been received then the officer can manually adjust the next due date or the overdue amount.
Adding an Overdue Arrangement
To add an overdue arrangement against a parent account, select the 'New' icon at the top of the screen to display a blank 'Overdue Arrangement Details' screen, into which you are required to enter a parent code or surname.
Select the 'Lookup' (Binoculars) icon to search for a valid parent account code in the database.
Once the required parent account has been selected, click the 'Next' button.
The 'Overdue Arrangements' screen will display any existing overdue arrangements already in place against the nominated parent account.
This screen will also display the 'Account Status' and 'Account Diary' tabs that are available in Finance > Parent Accounts > Account Information > Parent Account Inquiry.
| Fields that require further explanation | |
|---|---|
Overdue Amount | This is a figure that you must insert manually and maintain as required. Important! It is not system generated. |
Next Due Date | This field needs to be manually entered and then altered after each payment has been received. |
Next Due Amount | The amount of the next instalment to be paid on the next due date. |
Frequency | The frequency with which payments must be made if the parent account is overdue. This field is defined in Finance > Parent Account > Setup Information > Parent Accounts Setup on the 'Arrangement Frequencies' tab. |
Arrangement Categories | The overdue category or categories attached to this parent account. Examples might be Committed, Doubtful, High Risk. Because this becomes a searchable field when looking for parent overdue arrangements it becomes important. For example, there is a need to review all 'High Risk' overdue arrangements. You may select to add or delete an existing category against the parent account 'on the fly'. To do so select the 'Add Category' button or 'Delete' link. This field is defined in Finance > Parent Accounts > Setup Information > Parent Accounts Setup on the 'Arrangement Categories' tab. |
Select the 'Save' button to commit your changes to the database.
Viewing and Editing Overdue Arrangements
To 'View' or 'Edit' an overdue arrangement, use the search screen to search for records in the database.
This search screen provides the facility to search for existing overdue arrangements in the database using various search fields.
Searchable areas include 'Search Criteria', 'Segment Filters', 'Accounts Selections' and 'Ledger Search'.
Certain search fields enable multiple selections of criterion. Holding down the 'Shift' key while clicking on your options permits a range selection; holding down the 'Ctrl' key enables selection of discrete (individual) criterion.
Click the 'GO' button (or press 'Enter') to execute the search and display the 'Overdue Arrangements' screen with the matching records.
'View' and 'Edit' functions are available to alter previously made entries.
Printing a list of Overdue Arrangements
Use the 'Overdue Arrangements' screen to select the records to include in your list.
From the generated 'Overdue Arrangements List' screen select the 'Print' button.
Various sorting and formatting options are displayed and you can select the type of file and layout you wish to use.
Click on 'Run' to create the file.