Learn here how to set up a debt collection route that suits your business.
Before we get started with setting up the amicable collection process, learn more about the credit cases in Payt in our support article 'How does Payt's amicable collection process work?'
Notifications
Via the 'Notifications' tab in your administration settings (the cogwheel icon in the top right corner of Payt), you can set notifications for completed credit cases, as well as a notification when a case is started automatically. This allows you to contact your customer if necessary before the process is started.
Handling of principal sum paid
When the invoice is paid and registered in your accounts, Payt will mark the principal amount as paid during the next import.
Payt does not communicate the interest and collection costs to your accounting package. Therefore, you can choose to pause the collection case when the principal has been paid, in the 'Invoicing' tab of your administration settings.
Once you have received the interest and/or collection fees, you can enter them manually in the case in Payt.
Tip: If you need to waive collection fees instead of registering them, read the article 'How do I enter or waive collection costs and statutory interest?'. Here, you can also read how you can possibly automate the remission of collection costs.
Legal interest
In addition to collection costs, you may also charge your customer's interest during the collection process. Here you can opt for the legal interest, interest according to rates in your terms and conditions, or no interest.
For legal interest, it is important to know whether your administration includes natural persons. This affects the interest rate you can charge, as this is lower for natural persons than for legal entities.
Judicial collection partners
If the invoice remains unpaid after the collection process, Payt offers the option of handing the file over to a collection partner. Payt cooperates with various parties. You can also opt for your own collection partner, in which case the file will be sent to your own administration after the collection process.