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Statute of Limitations For Working an Account

You can presently close accounts by using a smart code series or multiple smart codes, but what was needed was an automated option. We have now provided this.

Options are set up at the state level. When you exit the state options, you are now presented with a sub menu called “State/Area Code Warnings and special Zip Codes”. A new option has been added to this. It is called “Statute for closing accounts”. Select this option to set up the rules for each state. Leave the state code blank to set up default rules for all states. If you do not have rules set up for a specific state, the options in the default will be used. The state you set up must be set up in the state system control file. This means that the “blank” state option must be set up in the state system control file. You were not able to set up a blank state. You now can and will need to set up the blank state code, prior to setting up a default option in the statute feature.

Within the statute controls, you can define :

  • A period for standard accounts, after which accounts should be closed
  • A period for legal accounts (legal not pre-legal). This is optional. If it is notspecified, legal accounts will use the period for standard accounts
  • An option to bypass legal accounts
  • An option to restart the “clock” after a payment transaction. The lasttransaction date is used for calculating the time that has passed. If thisoption is set up, in the case of paying accounts, the start date will be thelast payment date.
  • Description codes can be set up to bypass the account
  • A smart code must be set up for the option to work. This smart code will beused to close individual accounts. Make sure the smart code does notduplicate! You do not want to close every linked account because oneaccount qualifies to be closed.

The process runs during nightly processing. We technically need to look at every open account, but the programs have been efficiently written to run quickly even with very large data bases.

This is an important option. You should first test it! Test it carefully as follows.

1. Set up default rules (blank state option) and other rules. DO NOT ENTER A SMART CODE TO APPLY!

2. Get to a command line and key in
sbmjob cmd(call STATUCLOSR)
Monitor this job and make sure it completes

3. This is a report that will print all the accounts that are selected for the smart code to be applied. We suggest that you put the report on hold, since it could be very large if run for the first time. Check the report carefully. The total number of accounts selected is also printed. This option will run for all companies, regardless of the company the user is signed into.

4. When you are happy that you have the rules set up correctly, you can add the smart code to be applied. This will activate the options in the nightly processing. Make sure your smart code is set up correctly and check that accounts are being closed.

 

 

Keywords : Article Statute Article Close

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  1. Kailer@key2recovery.com

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