If you want to prevent your customers from missing payments, you need to learn how to oversee unapplied cash installment payments. A misapplied payment will harm your customer relationship, so you have to fix the problem. The first step is to determine the source of the error. If the payment was not received on time, you can apply it to the previous invoice. However, you should note that this method requires you to track the unapplied cash account frequently.
You can run this report once a week, or daily if you have a location parameter. Afterward, you can review the receipts that require immediate attention. You can do this through the RF business system. In the Receipt Inquiry menu, choose the Unapplied Cash Inquiry responsibility. Then, click on the payer’s name. If the payment is for an installment, you can view the details by clicking the PDF attachment.
You can also review the unapplied cash receipts by running a report each week without parameters or daily with a location parameter. You can review the unapplied cash receipts that require immediate attention. You can do this through the RF business system. Select the Responsibility field under the Receipt Inquiry menu. When you see an unapplied cash receipt, you’ll find an electronic attachment with the payer’s name, phone number, and email address.