Define collection statuses
Learn how to customize collection statuses to effectively manage customer payment behaviors and interactions within the collections process.
You can customize collection statuses within financial operations to categorize customers based on their payment behaviors and interactions with the collections process. The collection status acts as a tag or label that you assign to each customer and that reflects the customer's current position within the collections lifecycle.
- Navigate to Collections Management > Collection Status.
- To add a new collection status, click New Collection Status.
- Enter the name of the collection status, assign a color tag, and then click Enter to save.
- To change a collection status, click the edit icon next to the collection status you want to change.
- To delete a collection status, click the delete icon next to the collection status you want to delete.