Over the years, we have heard a few complaints from clients that QuickBooks software is not very efficient at helping them track their overdue receivables. In the past, QB users would have to run a few different reports such as their AR Aging, Open Invoices or Customer Balance detail to gain knowledge as to which customers they need to call to collect.
Now in QuickBooks 2011, Intuit has built in a Collections Center that takes these pains away. By going to the Customer center, you can click on the Collections Center button. Once you are in the Collections Center you will notice that there are two tabs. One is for Overdue Invoices and the other is for Almost Due invoices. In either tab, QuickBooks will show the customer name and beneath it, a link to each overdue or almost due invoice. If you double click on the link, QB will open the invoice on the screen. In addition to listing out the invoices, the Collections Center will also display the balance of each overdue invoice as well as the amount of days overdue. Most importantly, this screen includes the customer phone number as well as a button for adding day & time stamped notes for collection calls. Lastly, you can click to send an email to each customer notifying them that they are overdue. QuickBooks software will automatically attach a PDF of each overdue invoice to the email for the customer to refer to.
This new collections center can really help you keep on top of your receivables. If you would like to see how the collections center works in more detail, please view the below video.