Payment reminders, Projected schedule, Aged stats

After a customer invoice has been issued, the company sends a payment reminder if payment is not made on time. The due date allows you to anticipate future payments. At the same time, a forecast allows you to estimate future cash inflows, and an aged stats allows you to analyze the age of receivables and prioritize collection actions.

Payment reminder

A payment reminder is an action consisting of reminding a customer that a scheduled payment has not yet been made, with the aim of obtaining payment of the amount due. It can generally be sent by various means (mail, email, telephone).

One of MASOCIETE, AMB & ST's clients has a few invoices that appear to be overdue, so the Invoicing manager decides to create a payment reminder to remind them of all their invoices.

Implementation

To create a payment reminder in SIMAX, go to Cash Flow > Payment Reminders, then click on [[New]].

Indicate which Customer* to send the reminder to, and you will see a list of unpaid invoices.

There is a template for each reminder level. Reminder 1 will be a simple reminder letter, level 2 will be a reminder letter with a request for prompt payment, and level 3 will be a formal notice.

Projected schedule

The projected schedule allows you to view customer and supplier payments on a monthly basis, giving you an overview of cash flow projections and enabling you to anticipate future receipts and disbursements.

Since January 2025, MASOCIETE has already signed several contracts with its customers. To anticipate its incoming payments, the accounting department draws up a provisional schedule. Using their management software, the accounting staff simply export the CSV file containing the entire list of upcoming payments.

Implementation

To enable your accountants to export a projected schedule, simply go to Cash Flow > Projected Schedule.

Once there, don't forget to select the Third Party Type*, you can also filter entries by Paid or Unpaid, specify the Start Date, select the Payment Method, and the Third Party.

Then click [[Export]] and choose between Copy to Clipboard, Export to Excel XLSX format, Export to CSV format, and Create export.

The projected schedule will then display the balance, monthly cash flow projections, and the total balance for customers, according to the selected third-party type.

Aged stats

Aged balance statistics allow you to view, on the one hand, customers or suppliers who are late in paying via the aged balance of delays, and on the other hand, projected customer or supplier payments expected over a given period.

MASOCIETE's accounting department was instructed to generate an aged balance sheet of customer arrears to identify overdue receivables. They found that there were receivables that had been unpaid for more than 180 days. To avoid errors, one of the accounting clerks also checked the suppliers' accounts.

Implementation

To view the aged customer balance for late payments, click Cash Flow > Aged Stats > Aged Customer Balance.

First, select As of:

This will allow you to view the outstanding balances by customer auxiliary accounts that you can [[Export]].

Now, to view the aged supplier balance, click Cash Flow > Aged Stats > Aged Supplier Balance.

This will allow you to view outstanding balances by auxiliary accounts for suppliers, which you can also export.