The Software to write Dunning Letters
Writing dunning letters is certainly not the most pleasant work, nevertheless, sometimes it has to be done. It is therefore all the more important that you can write and send dunning letters as quickly and easily as possible using software.
For this purpose teamspace automatically compiles all invoices for you in the system. You can view the payment status directly. Open receivables can thus be identified and reminded at a glance.
Initiate Dunning Process
Is the invoice due or already overdue? In teamspace, you have all the information at your fingertips and can view the invoice directly if necessary.
If you wish, the software will automatically remind you when it is time to initiate a dunning process and which dunning level is due. The reminder is based on the customer’s payment deadline or the specific invoice.
Automatic Dunning Levels
teamspace has several automatic dunning levels. You can switch from one dunning level to the next at any time or even skip steps:
Each document is generated automatically from the invoice, contact and invoice data are transferred as well. This allows you to write dunning letters conveniently with just one click.
For each dunning level, you store individual templates and thus do not have to worry about anything. The dunning notice is also sent automatically as a mail from the system. The reminder is attached as a PDF file.
Book Incoming Payments
Have you received full or partial payment? Then mark the invoice as paid (in full) or in part. Outstanding receivables remain visible at all times.
Reversal and Credit Note
With teamspace you cancel invoices according to all legal standards. For this purpose, the software maintains a separate history for each invoice.
If you cancel an invoice, you can create a new one based on the previous one and make adjustments. All original data and contents remains preserved.
Simply write Dunning Letters online with teamspace
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General about Dunning Letters
What Dunning Periods do I have to observe?
The question of when a customer is in arrears is often important. You must distinguish between private and business customers.
If no explicit payment deadline is specified in the purchase contract or the GTCs, the statutory payment deadline of 30 days after receipt of the invoice automatically applies. From the 31st day, the customer is therefore officially in default of payment.
For private customers, you must explicitly refer to the statutory (or individually agreed) payment deadline on the invoice. Only then is the customer in default after the deadline. If there is no such reference, you must first send a reminder after the deadline has expired for the customer to be in default.
What Payment Term should I specify in a Dunning Letter?
In principle, the contractor decides on his dunning periods. However, unrealistically short payment periods will not be successful. It is recommended to aim for a payment target of 10 working days in the first dunning notice. For the second dunning letter, the payment deadline can then be reduced to 5 working days in order to increase the pressure on the customer.