Setting up Collections
Setting up Collections
Once the collections letters are created, the collections are set up:
Select Setup > Collections Setup. If you are using universal navigation, click Accounting > Setup > Collection Setup.
Search for and select the desired association.
Complete the following fields, which apply to all entries within the selected association(s):
Process Collections Day: Choose the day of the month (1-31 or Daily) on which to process collections.
NOTE: CINC recommends running collections daily to avoid delays in processing.
Process on Weekends: Toggle on if desired. If not enabled, the process will run on the next business day.
NOTE: The collections process runs in the evening to make letters available the next morning. If this Process on Weekends option is not enabled, the system will not generate letters on Friday or Saturday evening.
Click Save.
Click New to add the first collection level.
Click the underlined newly added Description labeled No Description.
On the Collections Setup Details screen, complete the following fields:
NOTE: The Escalate From, Balance at Least, and Balance Older Than fields work in combination when the collection process runs to determine whether a homeowner’s collection status should move to the next level.
Description: Enter a description that matches the level of the collection letter; e.g., Friendly Reminder, 30-Day, etc.
This will populate the Collection Status field for this level on the homeowner’s account.
For example, if the description is 30 Days Late, the Collection Status for each homeowner at this level will be 30 Days Late.
Send to Agency: This field is not used at this time.
Duration at This Level: Enter the number of days the account should stay at this level.
And Requires Board Approval to Escalate: Toggle on if board approval is required at this level to be eligible to move to the next level. That is, if Board approval is needed prior to sending a delinquent account to an attorney for collections.
Reprint Letter Every: Enter the number of days in which to reprint the collection letter to send to the homeowner, if applicable. For example:
If the field Duration at This Level is set to 30 but a new letter needs to be generated for the homeowner every 10 days, set the value to 10.
The system will produce the same letter with the current date every 10 days until the value is less than the value in the Collections Reset Balance field (on the Association Information screen) and is removed from the collections process or escalated to the next collection level.
Escalate From: Select the collection status from which the current level should escalate. The first level would not escalate from a status and would remain at the default setting of No Collection Status.
Change Status To: Select the homeowner’s status to which the account should change once it reaches this level.
NOTE: CINC recommends leaving this field as Owner and allowing CINC Accounting to automatically change the collection status as the account moves through the escalation process.
Balance at Least: Enter the minimum amount that the homeowner must owe before being placed in this level.
NOTE: Assessments that should be included in the balance consideration are selected in the Assessments Included in Balance field and not in this field.
Balance Older Than: Enter the number of days the balance must be owed in order to advance the account into this collections level.
If the balance that qualifies the homeowner to move to this collection level includes multiple assessments, each assessments balance must be older than the number of days defined in this field.
Also, the charge must be older than the number of days in this field to escalate to this collection level.
For example, if the charge date for the assessment was the 1st and this field’s value is set to 15, the charge would not be older than 15 days until the 16th.
Due On: When generating a statement with a collection letter, select the day, if applicable. This should be the day of the month the assessment is due.
Homeowner Letter: Select the letter template for the specific level.
Include Delinquency Policy: Select to include a copy of the delinquency policy.
Choose Template Addresses: If the Chosen Name and Address tag was used in the collections template, select the address types that should receive the letter. An individual letter will be generated for each address that exist for the homeowner; i.e., Property Address, Offsite Address, Management Company etc.
Assign Attorney: Optional. Select the attorney to whom the account would be sent, when applicable.
This list is defined by vendors in the system with a vendor type of Attorney.
It can also allow assignment of a login for the attorney to CINC Accounting to provide permissions to only the accounts assigned to them through the collections process.
Attorney Letter: Optional. Select the Attorney Letter template to be used when applicable if one was created. This selection will allow generation of a letter with details for the attorney once the account reaches a level that would be turned over to an attorney.
Assessment Type: If charging a fee for the collection’s process/letter, select an assessment type from the dropdown. The Assessment Type must first be set up on the System > Assessments screen and linked to the appropriate G/L number. If you are using universal navigation, click Accounting > Settings > Assessments.
(Fee) Description: Enter a description for the fee to override the description as listed on the System > Assessments screen. This will be the description used for posting the charge to the homeowner’s ledger. If you are using universal navigation, click Accounting > Settings > Assessments.
Collection Fee: Enter the collection fee amount. Fees entered in this field will create a collection fee batch on the Homeowners > Batch Postingscreen when processed. If you are using universal navigation, click Accounting > Daily > Batch Posting.
Statement Type: Optional. Select the statement type if a statement is included with the letter.
Include: To include a transaction history with the letter, enter the number of Days of History or enable the Since Zero Balance option to have the statement include all history from the last zero balance date to current.
For example, if Days of History is set to 180 and Since Zero Balance is enabled and homeowner had a zero balance 100 days ago, the statement would show 100 days of history.
Days of History is optional but is required if a Statement Type is chosen. See Setting the Include [X] Days of History and Its Impact on Statement Generation.htm
Transaction history will only be included if you enter a number, for example 90, in the Days of History field or enable the Since Zero Balance option.
Statement Code: When generating a PANSY file (.pan) for SouthData, enter the Statement Code here.
This is typically the same as the association code.
Statement Code is optional but required if a Statement Type is chosen and a PANSY file for SouthData is being generated.
Statement Messages: Select the checkbox(es) next to the statement message(s) to include. Enter the order in which it should appear on the statement starting with 1, if applicable.
Transaction Types Included in Balance: All types are selected by default. De-select the types to exclude from the owner’s collections balance.
Assessments Included in Balance: All types are selected by default. De-select the assessments to exclude from the owner’s collections balance.
Click Save.
Repeat steps 5 – 8 until all collection levels are created.
On the Collections Setup screen, select the checkboxes next to the collections level, and enter a Display Order, and click Save.
NOTE: The Display Order does not control escalation order.
As homeowners are automatically moved through the collections process, the Collection Status on the Primary Homeowner Information screen will be updated to reflect the owner’s current level based on the levels that were created on the Collections Setup Details screen.
Collection Status is also shown on the Homeowner Listing screen in red.
