DEBT MANAGEMENT AND TRACKING WORKFLOW

Created by ChecklistGuro (https://checklistguro.com)

[ ] Fetch Overdue Debts: Retrieve all entries from the Debts data model where the due date is passed and status is 'unpaid'.
[ ] Calculate Total Outstanding Balance: Sum the 'amount_due' property of all retrieved overdue debt entries.
[ ] Update Debt Status to 'In Dispute': Update the status of a specific debt entry when a dispute is flagged.
[ ] Assign Collection Agent: Create a task for the assigned accounts receivable officer to follow up on the overdue debt.
[ ] Calculate Late Fee: Calculate the penalty amount by applying a percentage (e.g., 5%) to the original debt amount.
[ ] Create Payment Plan Entry: Generate a new entry in the Payment Plans data model linked to the existing debt.
[ ] Send Overdue Notice: Send an automated email to the debtor with the details of the outstanding balance and late fees.
[ ] Send Payment Reminder SMS: Send a short text message reminder to the debtor's registered phone number.
[ ] Update Debt Record with Late Fee: Update the 'total_amount_due' in the debt entry to include the newly calculated late fee.
[ ] Create a task for the finance ...: Create a task for the finance team to verify if the payment has reached the bank account.
[ ] Mark Debt as Settled: Update the debt entry status to 'Paid' once the payment is verified.
[ ] Remove Erroneous Entries: Delete duplicate or incorrect debt entries identified during the audit process.
[ ] Generate Monthly Aging Report: Create a report summarizing total debts, overdue amounts, and collection efficiency for the month.

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