Creating a collections milestone

Like delinquency milestones, collections milestones define specific actions to be taken for accounts in collections, such as sending notices or shutting off services. Each milestone also defines how and when accounts can move to other milestones, and indicates whether accounts that enter the milestone are eligible for liens.

Select Billing > Setup > Delinquency > Collections Setup.
In the Collections Setup tree, browse to the collections Milestones node under the collections scheme you're adding the milestone to.
Right-click the collections Milestones node and select Create Milestone.
Type an identification code for the milestone in the Milestone Code field.
In the Level field, enter the level of collections represented by the milestone.
The level is a code that you can use to indicate that milestones within different collections schemes are at about the same level of severity. For example, if you have one scheme for commercial accounts and another for residential accounts, each might include a milestone where the only action is to send the customer a notice. You could assign the same level, such as 1, to each of these milestones. Infor Operations and Regulations shows each milestone's level in parentheses after its name in the collections Setup tree.
Specify the advancement rules for the milestone.
The advancement rules define how Infor Operations and Regulations will handle accounts at this milestone during a collections run. You use the Duration, Next Milestone, Decrement Milestone, Auto Decrement, Resolve, Resolution Code, and Payment Reversal Milestone fields to define these rules. In each case you can enter either a formula or a value. For example, if you always want accounts to move to the same next milestone from the current one, you can select Value from the Next Milestone list and then specify the desired milestone. The duration is the number of calendar or business days an account must remain at the current milestone before it is eligible to advance. The decrement milestone is the milestone that an account will move to if it meets the auto decrement conditions, such as applying a payment that brings the delinquent balance below a certain amount. The resolution code will be used to resolve collections for accounts that meet the resolve conditions. Finally, the payment reversal milestone is the milestone an account will move to if a payment is reversed.
Select the Lien check box if accounts that enter this milestone are eligible for liens.
You can use the Lien Eligible Accounts item in My Infor to review these accounts and add liens as appropriate.
Type a number indicating the order in which Infor Operations and Regulations will show the milestone in the Display Order field.
Click Save.