The ability to determine how much outstanding money is owed to your company is vital to the ongoing management and sometimes survival of a business . As such, it’s important that relationship managers have the ability to examine which accounts are overdue or have a credit freeze on them so they can work with finance and customers to rectify the situation.
In this video tutorial, we’ll show you how to determine which customers owe you money.
After opening your accounts receivable database click the ‘ageing’ function then select the ‘91-120’ and ‘120+’ ageing values. Next, click the ‘Focus’ button and ‘account’ dimension tab to see a list of accounts that are more than 90-days past due.
In our example’ we have a list of 436 customers with overdue accounts. From here, you can see the names of the account owners by selecting the ‘owners’ dimension. Now you can easily examine how outstanding money is broken down by account owner. From here you can export the report into an Excel spreadsheet or click the star button to save it as a favorite. Print or share this report with your customer care representatives so they know which overdue customer accounts to prioritize.
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Katrina researches, writes and edits the Phocas blog. She explains how data can work for business people without all the tech jargon. She is always on the hunt for great customer data stories.
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