There are three different debt statuses that you can assign to each transaction for your customers who are late with their payments.
The three statuses are automatically created for you when your database is created. You cannot change the description of these records, however you can view them and add more statuses that suit your business.
You can specify a credit controller for each status and when a status is applied to a transaction, the credit controller associated with that status will be automatically applied to the transaction but can be changed manually.
To be able to view and or add new statuses and assign credit controllers to these, you must have permission to the System Module which is security profile permission driven.
Set up new debt statuses:
You must have permission to access to System Module.
Click System then Options and then click Credit Control Options.
Click Edit at the top of the screen.
On the Debt Status section, you can see the three default values:
Current, Due and Overdue
Click + Insert new record, enter the description, and assign a credit controller by clicking on the magnifying glass on the row to open the list of users available within your database.
Highlight the user you wish to add and click Select at the bottom of the screen.
Click Save once you have added all the statuses and credit controllers you want to work with.