This instruction explains how you use the transactions and supporting documentation created in 'Credit Monitoring. Create Transactions' (RMS410) to follow payment trends and credit for selected payers.
If you are a credit manager, you probably use it on a daily basis.
The payer's current credit status is analyzed, based on the displayed reasons for including the payer in the credit monitoring routine. Actions are registered for each reason according to the company's credit policy.
Reconsider the credit policy applied to the customer based on the result of the analysis. When necessary, you redefine the credit policy in 'Customer. Open' (CRS610), panels J and K.
Define information to be displayed on the panel
The panel displays the columns for last run date, payer, name, and amount overdue from the accounts receivable balance file in the local currency, active tickler notes (marked as an asterisk), and ten status fields used to indicate which criteria have been used for selecting transactions, as defined in 'Settings – Credit Monitoring' (RMS905). An additional status column indicates if action already has been taken for all records selected for a payer.
Check information on payer level in other programs
To review further financial information for credit monitoring purposes, select any of these options on the B panel to access the desired program:
Review reasons for credit monitoring and the transactions and values on which reasons are based
Value 1 and Value 2 (The information in columns Value 1 and Value 2 depends on the reasons displayed – see Configure Credit Monitoring
If the selected payer is connected to a credit group in 'Customer Credit Group. Connect' (CRS316), the field ‘Credit group12’ is displayed on (RMS421/B) to indicate that the payer is connected to a credit group. In that case, Value 1 and Value 2 for credit limits 1, 2, and 3 are retrieved from the credit group, not from the payer. Payers that are connected to a credit group are only selected for monitoring of the credit limits in (RMS420) and (RMS421), if the credit limits defined for the credit group have been exceeded.
Register action for reason
11='Invoices': This option is valid for reasons Due date passed, Follow-up date passed, and Stop date passed.
If option Invoices is selected, 'Credit Monitoring. Display Invoices' (RMS422/B) is activated. The following columns are displayed, depending on the reason selected: Due date/Follow-up date/Stop date, invoice number, number of days passed, invoice amount, currency, outstanding amount. If reason Stop date is selected, columns Stopped by and Payment reminder stop are displayed as well.
The other options are the same as displayed in panel (RMS420/B).
To review invoice details, select option 11='Display invoices' for an invoice to access 'Customer Invoice. Display Separate' (ARS215/B).
To add or change the follow-up date or stop date, select option 20='Change date' to access 'Credit Monitoring. Display Invoices' (RMS422/E).
Action codes are defined by the user in 'Credit Monitoring Action. Open' (RMS010).
Tip: To connect an optional comment to the payer, press F6=Freetext on panel (RMS421/B). Type your comment on the text panel and press Enter to return to the previous panel.
If an action code is set for all reasons for a payer, the action status is automatically set from 0 to 9.
Since this affects previously selected transactions, see Select Transactions for Credit Monitoring and Payment Reminders before proceeding.