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Last updated: | Applies to: | In industries: | Of versions: | Special contents: | ||||
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20120228 (Andy) | Pro, MultiUser, MultiSite, MultiView |
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7.X (and higher) | n/a |
The late cycle is triggered when a Customer is late in making a payment for items on their account and their Agreement passes its due date for payment. Agreements will enter the late cycle automatically, as long as Daily Processing is run
.When an Agreement reaches the end of the Notice Plan, StorMan will prompt the operator (during Daily Processing). At this point, the user can either restart the late cycle for that Agreement or end it completely. For further information, please refer to the section further down below, entitled 'What happens at the end of the Late Cycle?'.
The late cycle for a particular Agreement is defined by the Notice Plan attached to that Agreement
. If you wish to change your late cycle, you will need to edit your notice plans to reflect your policy changes.
If a Customer is overdue in making a payment on a rental fee, this will have triggered the late cycle to start. There are a number of ways to tell how late an Agreement is...
This depends on the configuration of your system. The behaviour of part payments can be configured via the System Setup screens; options include Yes, No, Ask and Disable .
Payments that equal some (but not all) of an Agreement's owing rental charges will update the late cycle start date. For example: If a Customer owes $200 (on 2x $100 monthly rental charges) and this Customer only pays $150, then they will be classed as late as of the due date of the second monthly rental charge. This is because the first monthly charge has been paid, but the second monthly charge was only half-paid... therefore, payment for the second monthly charge is still technically late.
Depending on your setup, Daily Processing will prompt the operator what to do. The operator can then either select to end the late cycle for the Agreement, or have the Agreement re-enter the late cycle from the start (the Customer will receive their first late letter & any relevant late fees again - as if they've just started on the late cycle).
If the operator selects to end the late cycle for the Agreement, the operator will then need to finalise the Agreement, physically remove the goods from the Unit or begin auction procedures. Please refer to your company policy for further information.
You can also configure what you'd like StorMan to do once Customers reach the end of their late cycle, via the system Setup screens.
The only way to get a Customer out of a late cycle would be as follows...
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