Common challenge: “The payment you receive from your customer is off by an insignificant amount…”

Solution:
In ADVANTAGE you can automatically have an under or over payment of an invoice written off to a specified Payment Tolerance account.

There are two options for setting up Payment Tolerances that will result in an automatic write-off:

Customer balances are easily managed with automatic payment tolerances.

Customer balances are easily managed with automatic payment tolerances.

1.) Percentage: The percentage by which the payment can be higher or
lower than the Invoice.

How it works:  The Payment Tolerance Percentage is set to 1%.  The invoice is for $100.00.  The customer can pay between $99.00 and $101.00 to consider the invoice fully paid.

2.) Maximum: The maximum allowed amount that the payment can differ from the amount on the invoice.

How it Works: The Maximum Payment Tolerance Amount is set to $2.00.  The invoice is for $100.00.  The customer can pay between $98.00 and $102.00 to consider the invoice fully paid.

Benefit:

  • You no longer have to deal with insignificant customer balances
  • You will be notified when an payment is made within the Payment Tolerance parameters
  • Customer Statistics include totals of Payment Tolerance adjustments
  • The use of Payment Tolerances can be set on a customer-by-customer basis

For more information, Contact us at Sales@rmiusa.com or 800-252-5011 for additional details.

Current ADVANTAGE users can learn more about using these features by logging into our RMI Client Support Site with over 2000 pieces of knowledge.

With over 30 years’ experience serving the rental, sales and services industries, we have helped many businesses solve common challenges. Learn how RMI and ADVANTAGE can help you. 

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