Practical guide
From overdue balances to action: a collections routine with Totum
Knowing what is overdue is the start. The useful next step is deciding who needs a follow-up, what information is missing, and whether a payment has already arrived.
Here is a practical routine for using Totum to move from a balance to the next accounting task.
Start with the right company
Choose the company whose collections you are reviewing. Ask Totum for overdue customers and check the relevant period. If you manage several entities, repeat the review in each company’s context.
A customer name can appear in more than one set of books. Keep the company, invoice, and balance together as you work.
Give every follow-up a next step
Review the overdue list and decide what each item needs. That may be a reminder, a copy of an invoice, clarification from the team, or investigation of a payment the customer says they have made.
Use tasks and reminders to keep track of the work. Where a connected communication workflow is configured, use it to move the request forward with the relevant details.
Check the bank before closing the task
A customer saying they paid is useful information. Match it against bank activity and the accounting records before treating the invoice as settled.
Totum’s reconciliation workflow helps identify matches and differences. If an accounting entry is missing, prepare and review the appropriate write action. Check that it has completed in the accounting system.
Keep the routine short and repeatable
Review the balances, assign the next action, and revisit unresolved items. This gives the team a concrete queue of work and the owner a clearer view of what is holding collections up.
Use the overdue-payment guide for the follow-up routine and reconciliation guide to investigate receipts.
Get started
Automate your accounting with Totum AI
Entries, invoices, reconciliation, and reports. One workspace for your accounting team.
Start for freeKeep reading
