User created who can login to the software with his username and password.
The aging balance helps to monitor the situation of accounts receivable based on their seniority compared to their due date. It is divided into several tranches. For example, non-overdue receivables and receivables due between 1 and 30 days and between 31 and 60 days ... etc. It can be applied to the entire accounts receivable or can be set by customer or group of customers.
Average payment duration recorded on the customer. It is calculated based on the effective date of payment of invoices by the customer compared to their issuance date. It differs from the DSO (days of sales invoiced and not yet paid) which is calculated with outstanding invoices.
Average payment delay of the client. It is calculated based on the effective date of payment of invoices by the customer compared to their due date.
Dunning actions done by a creditor (the seller) in order to get his invoices paid by a debtor (the client)
List of dunning actions triggered based on due date of the oldest invoice non excluded of the customer account.
Person in charge of collection for this customer
The contractual DSO represents the share of the DSO corresponding to current receivable (not yet overdue).
Annual cost of a day of DSO calculated with the internal interest rate (the cost of money) for your business.
The credit available corresponds to the credit limit minus the total amount of receivable. It therefore represents the unused outstanding credit.
The cost of credit is the cost for the seller of the credit granted to a client. It is different for each company and depends on the structure of the company's liabilities and costs of each item (equity, debt ... etc.). It is necessary to know this cost for his company to set up the payment terms and the rate of late payment penalties to use.
Amount of the guarantee granted by the credit insurer on the client.
The credit limit is the maximum level of outstandings to be granted to a client. Its aim is to limit the risk of non-payment to an acceptable level given the company's financial capacities.
The credit notation is a scoring tool of companies that is based on several criteria. It gives a qualitative rating of the creditworthiness of its clients.
When a company makes a sale by granting a delay of payment to the buyer, she is not certain to be paid while she has already delivered the equipment ordered or performed the service. Credit risk represents the sum of receivables issued and not yet paid less those secured (credit insurance, bank guarantees ... etc.)
Receivable amount not yet due
Person in charge of the customer in the customer service department
It is possible in My DSO Manager to create groups of customers based on desired criteria (customer type, by country, by amount of AR, by risk ... etc.). Groups allow you to assign a specific collection scenario and to obtain dedicated reports (DSO, litigation, risk ... etc.).
A dispute is a reason given by the customer to justify the non-payment of an invoice. It may be of several kinds: commercial (pricing error on the bill), quality (the delivered material does not work properly) or administrative (error in the invoice wording ...).
Each item (invoice, credit note, payment unaffected, debit note ...) uploaded in My DSO Manager
must be associated with an internal item type of My DSO Manager
. This type depends on the accounting nature of the item.
There are 6 item types in My DSO Manager
- FAC / Invoice : invoices. Debit items only
- AVO / Credit note : credit notes. Credit items only
- RGL / Payment : unallocated payments. Credit items only
- ODI / Miscellaneous transaction : miscellaneous operations(OD). Debit or credit items
- TRT / Draft : items in transit (drafts, bill of exchange). Debit only
- DPA / Downpayment request : payment requests. These are memorandum items (for information) without accounting value. Debit items only
Days Sales Outstanding: number of days of sales in the accounts receivable. The DSO is a key indicator in credit management and should be as low as possible. It varies depending on the payment terms granted to customers and bills collection performance.
The due date is the date on which an invoice must be paid by the client. It is calculated on the issuance of the invoice based on the payment term defined during the trade negotiations. It is important that it is correct to avoid any dispute justifying the non-payment of the invoice.
Amount of receivables corresponding to a day of DSO
Item type of your ERP or accounting system.
Vendor internal reference of the purchase order of the client.
User created who cannot login to the software with its own identifiers.
Interactive email intended for the internal actors of your company allowing them to interact in My DSO Manager about actions requests or disputes follow-up
This is the cost of money in your business. It depends on the cost of bank financing and shareholder remuneration
Date of issuance of the item
Allows to insert late payment penalties in collection documents and account statements.
Oldest item not excluded by a specific action which triggers the collection scenario actions
Minimum amount below which no collection scenario action is generated by My DSO Manager.
The open items are all the receivable accounting documents (invoices, credit notes, payments not allocated yet...) issued but not cleared yet (for example invoices issued but not paid yet).
Amount of sales orders recorded and not yet invoiced. This amount is taken into account in the calculation of the risk
Other guarantees such as bank guarantee, standby letter of credit, parent company guarantee ... etc.
Receivable amount which is overdue
Part of outstanding receivables that are overdue.
The overdue DSO represents the portion of the DSO corresponding to overdue receivable.
Amount of late payments for which the forecasted payment date (based on date of promise to pay or the average delay in payment of the customer) has not been respected.
Accounts Payable (customer side) centralizing payments of several customer accounts
Date the item was paid and cleared.
Payment behavior of your customers defined according to the average payment delay calculated over six rolling months, configurable according to your criteria
Recovery flat cost applied to overdue invoices. It is cumulated to late payment penalties if activated on customer account.
There are several roles in My DSO Manager
.Each have specific rights:
- Administrator: access to all the features present in the application including setting the platform.
- Credit manager: access to all features except « my account » and « security settings ».
- Collector: accesses to recovery features and reports. He can also manage customer groups.
- Sales administration: visualization access to clients, items with their statutes and comments and reports.
- Commercial: access for consultation only on clients and on reports. However, it is possible to associate a status and a comment on the invoices but it is not possible to access to the settings.
- Financial controller: access for consultation only on clients and their accounts situations as well as on the reports.
- Executive officer: access for consultation only on clients and their accounts situations as well as on the reports.
- Guest : access only to the reports.
A specific action allows you to exclude the selected bills from the collection scenario and to perform another action. For example, if the customer agrees to pay a bill at a time D, it is useful to set a specific action « promise to pay follow up » on this bill at D + 2 days. When an invoice is qualified in dispute, a specific action « dispute tracking » is automatically programmed by My DSO Manager to take this bill out of collection until dispute is resolved.
A statement of account is a summary document of all accounting records of a customer account. It contains all invoices, credit notes and other items not settled yet. This document informs the client of the bills he has to pay.
The status allows to qualify items and assign them temporarily in a category. For example, if a customer confirms a payment, the relevant invoices will be qualified with a status of « Promise to pay ».
The To do list is a central tool in My DSO Manager. It contains all the collection actions to be made. There can be several sorts of actions: scenario actions, specific actions or automatic actions. The To do list allows the collector to organize its priorities and its activity into My DSO Manager.
Sum of all receivable items including invoices, credit notes and debit notes, unallocated payments, miscellaneous transactions et items in transit