How do you calculate debtor days
The Debtor form stores all information that you need to work and manage your accounts. Personal, financial and in-house management information is displayed on the form. Tabs enable you to open subforms to access various types of related information, such as contact s scheduled for the debtor, financial transactions posted, bank information and other debtor detail s, cosigner s and attachment s. When you select financial fields on the Debtor form, additional financial detail s are displayed in summary screens.
Please refer to Debtor Basics for steps to access this form.
Collect! uses the information entered in the Debtor form to:
- Help you manage your collector s' workloads
- Perform financial calculations
- Print a broad array of reports
- Keep track of all activity on each account
Information on the Debtor form can be loaded automatically for each new Debtor that you create. This speeds up data entry and minimizes errors. First. the settings and details are entered into the other areas of Collect. Then they are readily available when each new Debtor is entered. For details, please see
- How To Setup Debtors (Administrative concerns)
The Name of the debtor entered as ' Last. First / Middle initial'. Please ensure your spelling is correct. This field is INDEXED.
If you type a comma in the name, Collect! will split first and last names automatically and put the result into the Contact field below. For example, JONES, SAM = Sam Jones. If you do not place a comma between the last and first name, Collect! will assume the name is a business name.
FOR CBR: Hyphenate multiple last names, e.g. 'Van-Deusen, Jack'.
FOR CBR: Please put ONE Debtor name ONLY in this field. If you have a Cosigner, use the Cosigner form.
FOR CBR: Don't include Generation titles in the name here. Use the Generation field.
FOR CBR: When reporting Commercial accounts, Collect! can detect a business name as long as there is no comma in the Name. If there are commas in the business name, please ensure that you switch ON "Business/Commercial" in the ECOA designation when setting up this account for reporting.
Press F2 or select the arrow to pick the Legal Entity title of the Debtor. For example, Jr, Sr, II, III, Ltd. or Inc. This field is optional.
FOR CBR: If there is a Legal Entity title for this Debtor, it MUST go here, NOT in the Name field.
The File Number of this account is automatically created by Collect. It looks at the highest numbered debtor and adds 1 for numbering a new debtor. File Number is a UNIQUE identifier for each account, up to 9 digits in length. You must not have duplicate File Numbers in your database.
Collect! uses this File Number for several functions, such as storing Attachment and Data records attached to the account. It is also sent as the UNIQUE identifier when processing accounts for credit bureau s, letter service and eBureau.
This field is INDEXED.
FOR CBR: the File Number must not change while the account is being reported.
Collect! does allow you to modify the File Number, if needed. Remember that you can use up to 9 digits here. Each account must have a UNIQUE File Number.
This is the name of the Contact person at the address or phone number. This field is INDEXED. Unless you enter a different name manually, Collect! uses the information in the Debtor Name field to construct the Contact name.
Press F2 or select the arrow to pick the Generation of the contact person. (Jr, Sr, II, III etc.) This field is optional.
This is the Address of the debtor, if it is known. Two lines are available. If you enter text into the first line, the Print switch (Address OK ) will be set automatically. This will enable printing notices to this debtor using contact plan s and action codes. When you change an existing debtor Address line, the old address line will be written automatically to the debtor's Notes.
*** IMPORTANT *** If you ever intend to report to Credit Bureau s, you must use one of the following address formats or an error will result.
FOR CBR: There are two acceptable formats:Source: www.collect.org