DOC: Payment Arrangement Reporting log | Scribe

    DOC: Payment Arrangement Reporting log

    • NICOLE HONE |
    • 12 steps |
    • 30 seconds
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      Alert! All payment arrangements must receive approval from the Credit Department manager

      Recording Payment Arrangement Status

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      The report is designed with various columns for entry of specific data. These columns include: - Customer account number - Company name - Warehouse number associated with each account - The initial amount of debt owed by the customer - The remaining debt balance at the time of entry - Status of the payment arrangement - Comments to summarize specific arrangements and other relevant notes - and there is a section for dated report was last reviewed Sample image reflects a completed log
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      This information is retrieved from customer accounts in our PDS system.
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      **Customer account number** is always the Master account, never the sub-account numbers
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      **Company name r**eflects the name name on the Master account, never the sub-accounts.
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      **Warehouse number** associated with each account is also from the Master account, never the sub-accounts.
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      The **initial amount** of debt owed by the customer is the amount the payment arrangements are for.
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      The remaining debt **balance** at the time of entry reflects the amount due at the time of reporting status.
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      **Status** of the payment arrangement have dropdowns titled: - Paying as agreed - Pay delays or NOT paying as agreed - Pending, for account that still are in negotiation
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      **Comments** field is to summarize specific arrangements and other relevant notes
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      **Last Reviewed** date is the date log was last updated

      Report Weekly

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      In order to maintain accurate report, it is important to add any newly established payment arrangements to the log, while also deleting accounts that have completed their arrangements and are paid in full.
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      It is important to submit these reports on a weekly basis to the reporting supervisor. This regular reporting schedule enables the manager to stay well-informed regarding the status of payment arrangements, ensuring effective oversight and informed decision-making. Department manager updates the status in our PDS system to "GOOD" or "BAD" as reflected on these sample images:
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      Final view