Reminder statements are a great way for chapters to have continuous statements for any outstanding balances held by members. Rather than allowing a gap of time with no statements, this will send only to those who still owe a balance to the chapter. This helps with collection rates, as well as to age accounts more appropriately. You can also use these reminders to add any miscellaneous charges that occurred after Spring billing statements have gone out i.e. t-shirts, event tickets, or fines. This will ensure they receive any additional charges on a statement to show as 'due' on the account.
To set up reminder statements watch this video on How to Set Up Billing Cycles in Vault.
*Note: Reminder statements will not have charges in the cycles. Only dates will be established. Also, if you do not see this option in your Vault account you will need to reach out to operationssupport@omegafi.com for more information.