Discover the best solution for efficiently managing complex customer payment schedules in Microsoft Dynamics 365 Finance. Learn how to automate tracking and improve financial forecasting with installment plans linked to customer accounts.
Table of Contents
Question
A financial services firm is using Microsoft Dynamics 365 Finance. Theyneed to manage complex customer payment schedules involving multiple installments and varying due dates. You need to devise a solution that manages these payment schedules efficiently while providing accurate financial forecasting. What should you do?
A. Assign a dedicated team member to call customers for each installment due date to ensure payment.
B. Create payment schedules with installment plans and link them to customer accounts for automated tracking and forecasting.
C. Require customers to pay the full amount upfront to avoid managing complex payment schedules.
D. Track payment schedules using a spreadsheet and manually update the system based on received payments.
Answer
B. Create payment schedules with installment plans and link them to customer accounts for automated tracking and forecasting.
Explanation
Creating payment schedules with installment plans and linking them to customer accounts allows for automated tracking and accurate financial forecasting. Tracking payment schedules using a spreadsheet is error-prone and inefficient. Requiring full payment upfront may not be feasible for all customers and could limit business opportunities. Assigning a team member to call customers is not scalable and does not provide an efficient or reliable forecasting method.
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