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Run Collection Letters Using Word Templates
In these economic times, Accounts Receivable must be managed
with diligence. The older an
account is, the less recoverable it is.
The
U.S. Department of
Commerce reports:
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At 90 days, 26% are uncollectible
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At 120 days, 35% are uncollectible
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At 6 months,
70% are uncollectible
-
At 1 year,
all the invoices are virtually worthless
BillQuick includes many reports and statement options. Aging
report formats include 90 day, 120 day and 210 day aging
periods. Most reports show the Client, Project, Main Client
Contact, the Phone, great shortcut information when making
collection calls. The Project Journal can also be used to note
collection conversations so project managers and principals can
easily and quickly reference this when talking to a client.
Another tool is collection letter. You can run Word-based
Collection Letters from BillQuick. There are templates for:
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First Notice
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Second Notice
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Final Notice
These templates can be customized using Microsoft Word 2003 or
later. When editing a template, most users change the text. With
a little technical knowledge, you can also customize the amounts
and other information pulled from the BillQuick database. If you
don't have this knowledge, time to customize the information, or
simply prefer not to do it yourself, you can call on the
BillQuick Report Team. Your
Sales Rep will be glad to get you a quote for the work.
How To Run Collection Letters
To run the collection letters, follow the instructions below:
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Select Reports, Company, Collection Letters
from the menu.
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On the Report Filters screen, apply the
desired filters
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Click the Preview button to open the letters
in Word, or click Print button to send them directly to your
printer.
BillQuick selects the correct Notice Template - First, Second,
Final and merges the data from your company database into the
letter. After a quick scan of the letters you can print them
through Word on your letterhead.
Note: You cannot change the
merged amounts or other values pulled from the database. These
values can be deleted and replaced manually, but no changes are
updated in the BillQuick database.
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