COLLECTIONS
The best action to take when a client is sure they paid their last invoice.
A) What is "Throw the US Post Office or Credit Card Processing Site under the bus?"
B) What is "Ask the client for specific information such as: The date, amount and method of their payment and if they received a confirmation receipt when paid via PPC's website?"
C) What is "Look for record of the payment through every deposit since the invoice date and call the client back a week later if the payment is found?"
Three-to-five business days and five-to seven business days, respectively.
A) What is "The amount of time it takes to have ill effects from green or red chile, respectively?"
B) What is "The delay in ACH and Credit Card payments getting deposited to our bank?"
C) What is "The expected turn around time on an invoice or estimate request?"
A PPC Annual Invoice Worksheet
A) What is "My worst nightmare?"
B) What is "The most comprehensive tool we have to work as a team to get invoices sent with accurate data?"
C) What is "The best thing since sliced bread?"
How Sage handles WIP that has been used for an invoice.
A) What is "Leaves WIP on the Report but marks it used?"
B) What is "Emails the Used WIP to each Client?"
C) What is "Leaves WIP on the Report without marking it used?"
D) What is "Removes WIP from the Report?"
Repeat invoices sent every three (3) months.
A) What is "Quarterly Billing?"
B) What is "Messed Up Billing?"
C) What is "Installment Billing?"
D) What is "Periodic Billing?"
A client's account has an invoice that is 31 or more days past due.
A) What is "A client account in good standing?"
B) What is "When the first statement goes to a client?"
C) What is "An account that gets placed on hold?"
D) What is "When the first notice of the account being past due gets sent?"
You are no longer on the list of authorized contacts. I cannot give you this information.
Thank you for holding; you have the wrong department. Let me transfer you. (For the 15th time.)
A) What is "Our response to participants calling to initiate a loan or distribution?"
B) What are "Typical responses a platform employee gives, when we call to get more information on money received with no client identifiers?"
C) What is "What a bouncer outside of Voya might say to hopeful club-goers standing in line?"
The most effective way to ensure your clients get billed as quickly and accurately as possible.
A) What is "Ignore phone calls and emails from the billing team?"
B) What is "When specific questions are asked about WIP, only answer the easy questions and leave the time-consuming ones up to your team leader?"
C) What is "Address invoice/billing tickets as soon as they are assigned from a workflow; enter sufficient descriptions in time entries; respond to billing team communications requesting guidance; work with your team lead if you are unsure of how to document or bill a client?"
What the billing team should do with un-billed WIP time with no description.
A) What is "Delete it from the worksheet and call it good?"
B) What is "Try to figure out what work the admin performed based on the date and invoice it out to the best of their ability?"
C) What is "Ignore the WIP and just allow it to result in a write down or decrease a write up?"
D) What is "Call WIP with no description to the admin's attention for guidance so all work is billed accurately?"
Invoicing that captures any un-billed WIP after annual administration work is complete for the plan year. Often includes items not typically covered by the base annual fee.
A) What is "Annual Billing?"
B) What is "Nickle and Dime-ing Billing?"
C) What is "End-of-Year Billing?"
D) What is ""True Up Billing?
This invoice was delayed so I don't have to pay it.
I terminated my plan last year. I don't owe this.
We moved our services to another TPA.
A) What are "Legitimate reasons why clients can disregard invoices?"
B) What are lyrics from "The new hit song by Eddy Money and Taylor Swift?"
C) What are "Common statements made by clients who may or may not owe money for an outstanding invoice and should be immediately researched?"
Services PPC does not offer.
A) What is "Credit Card Processing, ACH Transfers, Wire Transfers, and Check Processing?"
B) What is "Third Party Administration of Pension and Retirement Plan?"
C) What is "Take credit card payments over the phone, Set up automatic/recurring payments, Mail physical invoices?"
I used to have a 401(k) with John Hancock and I have questions.
I need to get a loan from my 401(k) and I don't know who to talk to.
I want my money from my plan and I want it now.
Don't transfer me. I don't like voicemail.
A) What are "Comments one would hear during senior early-bird hour in a restaurant?"
B) What are "Common statements made to PPC team members who answer the main line?"
C) What are "Storylines for the next PPC phone etiquette training session?"
A communication from Navigator that alerts the billing team that an invoice needs to be prepared for a client.
A) What is "A request to roll a plan to the next plan year?"
B) What is "A year-end ticket?"
C) What is "An invoice/billing ticket?"
D) What is "A Lincoln Letter?"
Our best guess of what will be invoiced for a given plan year or special project. Reviewed by the client for approval before the work is performed.
A) What is "A Guesstimate?"
B) What is "A Pre-Bill?"
C) What is "An Estimate?"
D) What is "A Pre-Payment Request?"
The name of the PPC process that is utilized when a client has at least one invoice that is 61+ days overdue.
A) What is "Bankruptcy?"
B) What is "A Payment Plan?"
C) What is "On Hold?"
D) What is "Double Jeopardy?"
My client is getting invoiced when funds are coming from the platform.
My client is receiving net zero invoices when fees are fully paid with basis points.
My client is receiving statements every month with balances owing when money is coming from the platform.
A) What is "Inefficient use of the billing team's time?"
B) What is "Keeping the client fully informed of their account status at all times (Full Transparency)?"
C) What is "PPCs attempt to overwhelm clients with emails so they will get frustrated and leave?"
You can just enter my time for yesterday.
I don't like to track my time every day. Keep reminding me when the last day of the pay period is and I'll get it entered.
What's the big deal...I'm on salary.
A) What are "Frustrating but actual statements made by PPC team members to accounting personnel?"
B) What are "Accounting's favorite things to hear at the end of a pay period?"
C) What are "The last words of terminated employees?"
When a takeover client is billed multiple invoices of equal value at once.
A) What is "A bunch of malarkey and must be stopped?"
B) What is "Catch up installments requiring payment to get a new client on track with the PPC billing schedule?"
C) What is "Quarterly invoices requiring payment before annual admin work can begin?"
An attachment to the email that goes out to clients one time per month, typically on the 15th, listing all outstanding invoices.
A) What is "A Nastygram that threatens a visit to the client's place of residence if money with interest is not received for past due invoices?"
B) What is "A request to pay all outstanding invoices?"
C) What is "A Statement?"
D) What is "An Accounts Receivable Ledger?"