NetSuite offers tools to automate payment reminders, reducing manual work and improving cash flow. Here’s how you can set it up:

• Saved Searches: Identify overdue invoices by setting criteria like status, due date, and amount.
• Workflows: Automate reminder sequences triggered by overdue payments.
• Email Templates: Personalize reminders with invoice details, payment instructions, and support contacts.

Key Features:

• Use dunning management to escalate reminders and apply late fees.
• Integrate with tools like Chaser for multi-channel reminders and a payment portal.
• AI options predict late payments, adjust timing, and track responses.

Automating reminders ensures timely payments, better communication, and fewer errors. Follow these steps to streamline receivables management and improve collections.

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Setting Up NetSuite Payment Reminders

To automate payment reminders in NetSuite, you’ll need to configure three main elements: saved searches, workflows, and email templates. Here’s a breakdown of each step.

Creating Saved Searches

Saved searches help identify overdue invoices. Go to Lists > Search > Saved Searches > New and choose Transaction as the search type. Configure the search criteria to include:

These searches are the backbone of your reminders, allowing you to segment customers based on overdue payments. Once set up, you can use them to trigger workflows.

Building Reminder Workflows

Set up workflows in NetSuite’s workflow manager to automate reminder sequences. Here’s a typical structure:

• Trigger Event: The invoice becomes overdue.
• Condition Check: Ensure the invoice is still unpaid.
• Actions: Send reminders tailored to how long the payment is overdue.

You can create separate workflows for first-time late payments and repeat offenders, ensuring your follow-ups feel relevant and timely.

Creating Email Templates

Design email templates that include dynamic fields to personalize each reminder. Key details to include:

• Invoice number and amount due
• Original due date
• Payment instructions
• Your company’s payment policies
• Contact information for billing support

Tip: Develop a series of templates with increasing urgency as payments become more overdue. Keep the tone professional but firm, making expectations clear without being overly aggressive.

Payment Reminder Schedule Tips

Setting Reminder Timing

Timing plays a big role in getting payments on time. Start by sending a reminder 7 days before the due date. If the payment still hasn’t come through, follow up again on the due date. For overdue payments, use a dunning management system to send follow-ups and adjust notifications based on how the customer responds.

Once you’ve nailed down the timing, shift your attention to writing clear, effective reminder messages.

Writing Effective Reminders

Your reminders should match your timing strategy and clearly communicate urgency and next steps. Use a friendly tone for early reminders, but shift to a firmer tone for overdue invoices.

Each reminder should include:

• Key invoice details (like the amount and due date)
• Simple payment instructions
• Contact information for support

Dunning management tools can help you monitor customer behavior and payment trends. This data lets you tweak your reminder schedule and improve your approach over time.

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NetSuite Advanced Features

NetSuite goes beyond standard email scheduling with advanced tools designed to automate payment reminders. These features allow for more customization and smarter insights.

AI Integration Options

NetSuite connects with AI-powered platforms to manage multi-channel communication, including email, SMS, and automated calls. These tools help personalize how you communicate with customers.

Here’s what the AI system can do:

• Predict late payments based on customer behavior
• Adjust reminder timing to optimize payment chances
• Track response rates for different communication methods
• Provide real-time insights into payment collections

For example, if a customer regularly pays late, the AI can reschedule reminders to go out earlier, increasing the chances of receiving payment on time.

Custom Workflow Creation

Custom workflows let you create specific reminder sequences tailored to different customer needs. While AI handles personalization and adjustments, workflows give you even more control.

Here’s how to set them up:

• Go to the Workflows section in NetSuite.
• Create a new workflow and set up triggers.
• Define logic based on factors like invoice age and payment history.
• Automate actions such as sending reminders or assigning follow-up tasks.

You can design workflows for different customer scenarios, such as:

Track how well your workflows perform using NetSuite’s reporting tools. Measure things like:

• How often reminders lead to payments
• The average time it takes to collect payments
• Changes in collection rates
• Customer feedback and engagement levels

Wrapping Up

This guide outlines strategies to simplify receivables management using automation. Features like automated payment reminders in NetSuite make managing receivables more efficient.

By combining NetSuite’s saved searches, workflows, and email templates with AI tools, you can build smart, personalized reminder systems. This not only saves time but also speeds up payment cycles while improving communication with customers. Leveraging these features ensures consistent customer engagement and reduces manual work.

Real-time AR dashboards offer valuable insights to refine reminder strategies and better manage cash flow. Regularly monitor and adjust these systems with NetSuite’s reporting tools to maximize their effectiveness.

NetSuite provides a scalable solution, whether you’re a small business or a growing enterprise. Its mix of automation tools and AI capabilities creates a reliable system for handling payment reminders.

These practices lay the groundwork for efficient accounts receivable management and prepare you for the scenarios discussed in the FAQ section.

FAQs

How to send emails for past due invoices in NetSuite using a workflow?

To set up an email workflow for past-due invoices in NetSuite, follow these steps:

1. Go to the Workflows menu and select New Workflow.
2. Set the trigger to When record is saved and choose Invoice as the record type.
3. Add a condition to check if the invoice status is past due.
4. Create an action to send an email using your selected template.

This setup ensures that only invoices marked as past due will trigger automated email reminders.

For better results, consider these additional steps:

• Set reminders at different intervals (e.g., 1 day and 7 days after the due date).
• Use dynamic fields to personalize invoice details in the email.
• Define escalation paths for invoices that remain unpaid for an extended period.

With a well-structured workflow, you can streamline accounts receivable management by automating reminders and tracking payment trends through real-time dashboards. This helps you quickly address any payment delays or issues.

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