Steps to setup dunning reminders in netsuite using saved search

Introduction:

Dunning emails are important to ensure timely payments. The platform allows you to setup dunning reminders in netsuite using their saved search functionality.  Below we have given an overview of key steps as well as the actual step by step tutorial to setup dunning reminders in netsuite.

Overview of steps to setup dunning reminders in netsuite

1: Define Dunning Criteria

The first step is to identify the criteria that will determine when a customer should receive a dunning reminder. This depends on your business and could involve criteria such as due dates, credit limits, invoice posting date, specific payment terms, or other relevant factors. NetSuite’s saved search can be used to help filter and target the right customers for your dunning process.

3: Create a Saved Search (Steps 4 to 18 in the tutorial below)

Within NetSuite, the saved search feature allows you to filter invoices based on various criteria. In the below step-by-step tutorial, we have considered the criteria: invoices overdue by 10 days and invoice outstanding amount greater than 0.

4: Set up how the dunning result will appear for each customer (Steps 19 to 22 in the tutorial below)

In these steps, you can define how the filter results appear in your dunning emails. This section can also be used to define what column names will appear in the email the customer receives (e.g., usual dunning emails have the column names – Invoice No, Invoice due date, Amount remaining, etc.).

5: Design Dunning Email Templates (Steps 23 to 29 in the tutorial below)

In this step, you can provide a subject as well as body to the email. You can also set how the result of the saved search appears in the email (should it be a CSV file or a PDF file? Should it be in the body of the email, etc.). You can also select how you want the emails to be sent. Should NetSuite send all invoices in one mail to the same customer, or should it be separate invoices?

6: Set Up the Schedule for Dunning Emails (Steps 30 to 31 in the tutorial below)

In this step, you can set up on which days you would like the emails to be sent. Should they be sent every Monday of the week or the first day of the month? Would you want to avoid sending on weekends, etc.?

7: Save, Monitor, and Adjust (Steps 31 to 33 in the tutorial below)

Provide an easy-to-understand name for the saved search and click on save. It would be a good idea to monitor dunning emails. One way you could do this is by creating a dummy customer with your email address and adding a $1 invoice with various due dates. Every time the dunning emails are triggered, you should also be getting a dunning reminder.

Step by step tutorial showing how dunning emails are setup

 

If you would like to know more about how PayorCRM can help you manage your Accounts receivables better, Check out Payorcrm.com