Legal Claims and Payment Plans for Receivables and Advanced Collections Part 2
CONCEPTS
The starting point is that a customer has overdue invoices.
The DCO creates a claim which is associated with the customer and the invoices. The claim contains details of any legal proceedings or payment plan.
The DCO may remove invoices from the claim or add them to it. A customer may have more than one claim active at any time although this will not often be the case..
When payments are received they are applied to invoices by the receipting process.
The Claims Processor then checks if a claim is fully paid or if a payment plan is in default.
If a claim is fully paid it is flagged as Completed. If there is a payment plan and the instalments are not up to date the claim is flagged as being ‘In Default’.
Please see part 3 for the implementation. Please note the full series is available via our White Paper Library on http://www.oraclecontractors.com/whitepapers.php