Accounting terms

Accounting terms specify the rules that determine when an account is considered overdue or delinquent and the actions taken. Different terms can be applied to different accounts.
Account terms
Specifies when a invoice is due, for example, 20 days from issue date.
Treatment level actions
Specifies actions that can be taken, for example, issuing a reminder message or barring services. Treatment level actions are associated with treatment levels, for example:
Treatment level
Treatment level action
No action
1 Reminder (+1)
Issue reminder email (a gentle reminder)
2 Reminder (+14)
Print reminder letter for post (a more formal and firmer reminder)
3 Call/Warn (+21)
Smile ticket created for an operator to contact the account holder
4 Final (+28)
Email and print a final reminder statement threatening suspension of service
Barring of service

Email and printed letter confirming suspension of service and warning of debt collection service

Treatment level rules
Rules associate actions with treatment levels, for example, when an invoice is 14 days overdue and is for at least $10 then take actions A, B and C.
Specifies when automated payments will be scheduled. The following two conditions must also be in place for a given account for this to be effective:
  • Payment details defined
  • An associated payment gateway or payment handler must be configured for offline processing mode (batch mode) or online processing mode (real time). No manual processing.
This aspect of credit control is not demonstrated in this guide.
Late fees
Specifies when fees should be applied based on days overdue. Contact Inomial for advice on introducing late fees.