Payment reminders and automatic debt collection

NoCFO sends payment reminders to your customer automatically when an invoice remains unpaid after its due date. If the invoice is still open after the reminders, Kravia can handle debt collection on your behalf. This way you don't have to track due dates manually.

Your own payment reminders are free. Automatic debt collection requires that the Kravia debt collection service has been activated. → See guide: Debt collection (Kravia)

Finding the settings

Go to Settings → Invoicing and collection → Payment reminders and collection. At the top of the page there is a timeline that starts from the invoice due date. Both reminders and debt collection are scheduled counting from the due date.

New invoices follow this schedule. Invoices that have already been created keep their earlier setting.

Your own payment reminders

You can schedule from one to five payment reminders. Each reminder is its own card. Add cards with Add reminder and remove them with Remove.

For each reminder you can set:

• Days after the due date sets how long after the due date the reminder is sent. The default for the first reminder is 3 days.

• Subject is the email subject line. By default it follows the pattern "Company name - Payment reminder for invoice [invoice number]".

• Message appears in the reminder email above the payment details. You can edit the default text to suit your tone. The invoice number, amount and due date are added to the message automatically.

• Language: you write the message in Finnish first. With + Add translation you can add the same message in another language. The reminder is sent in the customer's invoicing language.

Click Preview email on a reminder card to see the finished message as your customer receives it. The preview shows the message, the invoice number, amount and due date, and the attached invoice. Finish by clicking Save changes.

Reminders are sent by email from your company's own invoicing address. The original invoice PDF is always attached to the message. When you turn reminders on, NoCFO suggests the timing and text for the first reminder.

Note: For NoCFO to notice that an invoice has been paid and not send a reminder unnecessarily, your company must have a bank or Holvi connection in use.

Automatic debt collection with Kravia

At the bottom of the page there is a Collection section. If Kravia is not yet in use, it says "Setup in progress". Start the activation with Activate collection services. The Pricing and terms button takes you to Kravia's price list and terms.

Once the collection service is active, you can switch automatic debt collection on. Kravia takes over the invoice and collects the payment on your behalf. Collection aimed at voluntary payment is free of charge for you, and the costs are charged to the debtor. Set two times counting from the due date:

• for businesses: default 7 days after the due date

• for private individuals: default 14 days after the due date

Schedule collection at least one day after the last reminder. Otherwise your customer receives messages from both you and Kravia at the same time.

Note: Automatic debt collection is not in use for an invoice if the invoice is recurring and uses the same reference number when a new recurring invoice is created.

Removing automatic debt collection from a single invoice

Even if automatic debt collection is enabled generally, you can remove it from a single invoice when creating that invoice:

1. Open the invoice creation view

2. Click More

3. Uncheck the Automatic debt collection box