If you are in the credit and collection financial department, the accuracy of information regarding the billing and other accounting activities is very crucial. Facilitate credit and collections management by using any of our 100% customizable, easily editable, and high-quality Credit & Collection Templates that are downloadable in Google Docs. We have lots of choices that you can choose depending on your needs such as credit card billing authorization form, collection referral, credit memo, and more. All files are easy to use and filed with professionally written suggested contents that you can use. Ensure accurate credit and collection when you choose from any of our Credit & Collection Templates! What are you waiting for? Press that huge download button and get one today!
How to Make a Credit and Collection in Google Docs
According to a trusted source, credit and collections management is associated with accounting systems that accelerate the following debt, credits, disputes, collections, and other financial business processes. In addition, it also stated that it focuses the accounts receivable, collecting accounts, and aid in the collections process. Credit and collections are done by a collections analyst who acts on the lender’s behalf in exchange for an interest. A debt recovery agency would send the clients some collection letters, dispute letters, demands, and other processes for them to be notified with the payments.
Dealing with debts, bills, and other accounting systems is a very important job to be focused on. To secure an organized money distribution, on-time collection, and positive relationships, here are the following steps on how to make credit and collection by using Google Docs.
1. Choosing One of the Credit and Collection Templates
Making a credit and collection document in a blank canvass may take time. It is best to choose one of the credit and collection templates online for you to finish the document quickly. Choose a specific template that would highlight your main purpose in a specific financial business process.
2. Customizing the Chosen Template
If you are able to choose the specific credit and collection template, it is time for you to customize the template yourself. Start customizing the format of the template according to your choice and make the fonts visible enough for the readers. If the template is already filled with suggestive contents that best suit your purpose already, you can simply save the template as it is.
3. Securing the Necessary Details
Open your Google Docs application and secure the necessary details in the credit and collection document. Provide the name of the client, the address, and the contact information. Do not forget to provide other important details such as the bill, amount due, order information, and due dates. According to a reliable source, 61% fall delinquent on the payment is mostly due to invoice errors, incomplete details, and other errors.
4. Providing Credit and Collection Policies
Provide credit and collection policies that are based on the company's law. In this part, you will also be providing the following terms and conditions with regard to the different financial business processes. You can also mention the instructions on how and where the clients can pay. For you to save time, you can also download a credit and collection policy template.
5. Notifying and Confirming the Payments
If the credit and collection document is all set, you can now inform the client with their debt through a collection letter or an invoice. Make sure they are sent ahead of the due date and all of the necessary information is being included to avoid confusing the client. The consumer needs to pay as soon as possible so make sure that it was successfully delivered to them or you can call the client for a follow-up after a few days of sending the payment notification.
