The principal sum of the debt collection case is the total amount of invoices in a debt collection case, excluding collection costs and statutory interest. Payment of the principal sum is taken over by Payt from accounting when payments are recorded in the underlying invoices of the debt collection case.
The default setting here is to pause a debt collection case when the principal sum is paid. After, the payment of collection costs and statutory interest should be manually registered in the debt collection case so that the case can be closed.
Complete debt collection cases automatically when the principal sum has been paid
You can also choose to adjust this setting so that the debt collection case is automatically completed when the principal of the case is paid. You can change this yourself.
- Go to the cogwheel icon in the top right of your administration to open your administration settings.
- In the left-hand column, click on 'Invoicing'.
- Under 'Cases', choose 'Complete case' instead of the default 'Pause case'.
Afterwards, the case will be completed automatically once the pirincipal sum has been paid.
To whom do debt collection costs and legal interest go?
Payments from the customer go directly to the client. Payt is not involved in this.