Blog

Product update: Master your AR collections with ezyCollect’s new Invoice Status feature

by | Apr 12, 2023 | 0 comments

Are you tired of chasing down invoices and managing complex rules for your collections process?

We are thrilled to introduce our latest feature – Invoice Status – to help you gain even more control over your collections. It’s one of the simple but powerful ways we make accounts receivable (AR) automation work for your unique business needs. 

What is the Invoice Status feature?

This new feature allows you to create different ‘invoice statuses’ for your synced invoices. Now you can pause or exclude invoices, add additional invoice statuses, and prevent chasing follow-up reminders.

The enhanced system for invoice exclusion, which is a pre-existing feature, offers increased reliability. Furthermore, the new system empowers ezyCollect users to customise statuses for their invoices to accommodate various business process situations.

ezyCollect Invoice Status feature UI screenshot

How it works

As a Manager user, you can set up rules based on different invoice statuses you define and add or remove different invoice statuses, such as Invoice Dispute, Exclude Invoice, Pause Invoice, and Mark on Direct Debit, or even create your custom status.

Functionalities and benefits

  1. Add additional information to the invoice statuses that are visible to your customers, helping to improve transparency and communication. You can show this information in email merge field tables or keep it internal for ezyCollect users.
  2. Set an expiration date for some invoice statuses. Once the expiration date is reached, the system automatically removes the current invoice status, further streamlining your collections process.
  3. Create a customised status name and set it to prevent chasing or make the status visible to your customers.
  4. Easy UI for changing the invoice status. Log in to your ezyCollect file, go to the Customers Page, and select the invoices where you want to apply for the new invoice statuses. Then click on the Invoice Status button, and choose the status you wish to apply. The system will act immediately, and the Invoice Status actions will be visible in the Activity History.

Overall, the Invoice Status feature gives you greater control over your collections, improves transparency and communication with your customers, and simplifies your Accounts Receivable collections process

This feature is now available to ezyCollect users.

Not an ezyCollect user? Book a demo with one of our AR experts and see how you can gain more control over your collections.

Latest Posts

EOFY 2023: Tax return lodgement and tips for SMEs

EOFY 2023: Tax return lodgement and tips for SMEs

As the end of the financial year approaches, small and medium-sized enterprises (SMEs) must prepare themselves for a range of crucial tasks to ensure a smooth transition into the new financial period. Let’s take a look at practical tips to make tax time as efficient and stress-free as possible.
Use cases of AI in the order to cash (O2C) process

Use cases of AI in the order to cash (O2C) process

As your business grows, so does the complexity and demands of the O2C process. This article will explore the real-world and potential uses of AI. It will provide insights on how to empower your AR team to be successful with the order-to-cash process. We’ll look at how AR automation has transformed O2C and how AI can take it further in the foreseeable future.
How to gain certainty, confidence and control in cash flow management

How to gain certainty, confidence and control in cash flow management

Cash flow management is essential for any business seeking long-term success. Mastering cash flow can immensely benefit your business, including improving financial management, enhancing decision-making, and providing better access to funding. Here’s how you could gain certainty, confidence and control in managing cash flow using best practices and trusted tools.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Access the FREE toolkit

Dig into our debtor management resources and build your own toolkit.  Get our most popular ebooks, templates and tips:

  • Telephone collection call scripts
  • Invoice templates for MYOB and Xero
  • Top performing reminder templates for email and SMS

...and so much more...for FREE!