Learn the top 3 actions to streamline overdue payment tracking and minimize effort using the Credit and Collections module in Dynamics 365 Finance. Boost efficiency today!
Table of Contents
Question
Your company has recently implemented the Credit and Collections module in Dynamics 365 Finance. They have many customers and often face issues with overdue payments. You need to set up a system that allows for efficient tracking and management of overdue payments. You must also minimize the effort required to manage delinquent customers. What three actions should you perform? Each correct answer presents part of the solution. Choose three.
A. Create collection letters for the transaction types for which you will collect letters.
B. Manually track and manage each overdue payment on a regular basis.
C. Send collection letters to all customers regardless of their payment history.
D. Set up a collection letter sequence on the customer posting profile.
E. Set up the customer to control collection letters at the customer level.
Answer
A. Create collection letters for the transaction types for which you will collect letters.
D. Set up a collection letter sequence on the customer posting profile.
E. Set up the customer to control collection letters at the customer level.
Explanation
Setting up a collection letter sequence on the customer posting profile allows for efficient tracking and management of overdue payments. Creating collection letters for the transaction types for which you will collect letters ensures that all overdue transactions are included in the calculation. Setting up the customer to control collection letters at the customer level reduces the number of collection letters sent to each customer. Sending collection letters to all customers regardless of their payment history is not efficient and can lead to unnecessary communication. Manually tracking and managing each overdue payment on a regular basis is time-consuming and not efficient.
Microsoft Dynamics 365 Finance Functional Consultant MB-310 certification exam assessment practice question and answer (Q&A) dump including multiple choice questions (MCQ) and objective type questions, with detail explanation and reference available free, helpful to pass the Microsoft Dynamics 365 Finance Functional Consultant MB-310 exam and earn Microsoft Dynamics 365 Finance Functional Consultant MB-310 certification.