The Status of an account reflects the most recent past event or the "state" of the account. For example, the demand letter has been sent, or the account is closed due to full payment.
Status is
set by selecting from a list of codes using the pull down arrow
or by typing the status code number.
Status codes
can be added "on the fly" by selecting the New Code Button 
.
Each Status
Code entry in CollectMax is assigned a date. This date is displayed on
the Summary Screen at the end of the Status field and to the right of
the New Code Button 
.
Caution: Status Codes should not be used as a means of
scheduling future actions. Status codes are used only to describe the
most recent past event or the "state" of a case. Use Action Codes to describe future planned
events.
Status codes greater then or equal to a preset value are to be used for closed files only. When various report options select only "active" cases, the value of the status code is used to identify such cases. The closed file status value is set to 500 as the initial setting by the publisher.