Q&A from Delinquency Notice webcast - difference between a tiered and aging/severity notice

We recently held an AR Delinquency Notice Overview advisor webcast - see knowledge document Note 1450327.1 for further information.

During the webcast we received a number of questions which we would like to share here:

Question 1:  What is the difference between the Tiered notices and the aging/severity level notices?

Answer 1: If you set up aging/severity buckets 1, 3, 5 and 7 on your policy and you have an invoice in bucket 4, for where there is no notification rules set up there would be no notice created if you have selected to use a Tiered Notification policy. For aging severity, with an invoice in bucket 4 it would create a notice for the highest bucket up to 4, which would be bucket 3 in this case. For severity level, most customers do not combine this with tiered notices and it creates a letter based on the number of