Every company needs to manage their Cash Flows and Accounts Receivable (AR) balances effectively. Microsoft Dynamics 365 for Finance and Operations (F&O) credit and collections management functionality offers a feature-rich workspace to facilitate views into – and follow-ups required on – customer balances, as well as access to related customer transaction processes. Good news: when you’re working in D365 F&O – you already have full access to Customer Credit and Collection functionality! Here’s what you may be missing…
What can you do within the Customer Credit and Collections Workspace?
Lots! This really is one of the most fully-developed out-of-the-box one-stop-shop workspaces in D365 F&O. Like all workspaces, you can personalize it to include only the information you need available to you. The available functionality of Customer Credit and Collection includes:
- Customer aging analysis
- Customer statements and fees
- Collection letters
- Credit and collection activity creation and tracking
- Credit and collection notes
- Customer credit limit analysis
- Collection cases used to track activities and follow-ups required for a specific collection effort
Here is just a quick view of the functionality on the workspace and few “did you know?” tips around what you can do on the Customer Credit and Collections workspace.
How do I access the Customer Credit and Collections Workspace?
Within Dynamics 365, select Workspaces > Customer credit and collections.
A comprehensive workspace will appear with all things related to AR credit and collections! We’ll explore it in more detail below.
Let’s start with the My work tab. Select the Company for which you want to review customer credit and collections information. You don’t have to log into the account of the company you want to review – you can select any company right from the workspace in the company you are currently logged into! Note that instead of selecting a Company to view, you could select a Customer account.
Use the Summary count tiles to see a quick count of open tasks and transactions. Clicking an individual tile accesses specific windows within D365 from which you can review or complete required tasks or transaction processing. Select the information icon to see the last time the count tile was refreshed. Click Begin update now to immediately refresh the count tiles on the workspace.
In the Balances area of the workspace, use the Aging period definition field to select the specific aging period you’re interested in viewing. Note than in D365 F&O, you can define as many aging periods as you need to analyze your company’s customer information.
On any of the graphics displayed, hover over a bucket to see additional information about the aging or drill down to the underlying data. Note that you can also check or uncheck individual aging buckets within the view so that you’re only focusing on the desired data subset.
Use the Collections area of your workspace to review specific detailed lists of information about your customers. Within Aged balances, you can define visual indicators, as shown below, that help you quickly zero in on specific details, such as Balance due. Also, you can perform various actions related to those records – like Email statement to contact – directly from the list view.
When you click on Email statement to contact, which you can do from many of the Collections views, it creates a customer statement in Excel. As shown below, this template includes a Balance summary tab and a Detailed transactions tab.
To ensure the email is sent properly, either:
- Under Contact information, ensure a primary Email address is identified
- Under Credit and collections, create a specific Collections contact with an associated email address
Finally, use Links to quickly access lists, transaction windows, reports, and setups that you find necessary to manage your customer credit and collections.
Are you missing information or find there is more information on the workspace than you need? Click OPTIONS > PERSONALIZE > Personalize this form to personalize your workspace view in such a way that it provides exactly the information you need. This will allow you to effectively manage your customer Accounts Receivable balances – with no development required!
Are Analytics and/or KPIs Available for the Workspace?
You bet! Microsoft has provided some terrific analytics via Power BI that you can add to your workspace to gain powerful insights into your customer account balances. Below are views of the various analytics and KPIs available for managing Customer credit and collections.
Credit Limit Overview
Amount over credit limit Overview
Balance Due Overview
Aged balances Overview
Expected payment Overview
Collection letter Overview
That’s it for our tour. As you can see, the Microsoft D365 F&O Credit and Collections workspace can help you effectively manage your customer collections and ultimately improve your cashflows! Check out the workspace and related analytics and personalize it to work best with how you need to analyze and review your customer account balances.
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Happy Dynamics 365'ing!