Credit terms (sales account)

Open: Sales Ledger > Sales Accounts > Enter New Account | Credit.

Open: Sales Ledger > Sales Accounts > Amend Account Details.

Use the Credit tab to enter credit reference information for the customer.

Credit review

Use this to keep a record of the dates when the customer applies for credit, and when their credit status is reviewed.

These dates are used for your information only.

Check a customer's credit status

You can check the credit status of a customer with a credit bureau (credit reference agency).

Note: Before you do this, you must have already set up Credit Information with the Credit bureau details and the Credit positions you want to use. To do this, see Credit bureaus.

Enter the Credit review details.
Select the Credit bureau for the credit check.
Enter the Credit reference for this customer.
To check the customer on the credit agency's website, click the link next to the Credit reference.
If a customer's credit status has changed, you can set their Credit position.

Trading terms text

If you want to print your terms on invoices, statements and other documents, enter the text for your Trading terms text.

Finance charges

Select a Finance charges rate if you want to add interest charges to customers who do not pay their invoices on time.

You can set up finance charge rates in the Sales Ledger settings Processing tab.

Average time to pay

Average time to pay.This is calculated automatically. It shows the average time (in days) that a customer needs to pay their invoices.

Note: This only applies to open item For open item accounts, all outstanding transactions remain visible on the account record, until they are allocated. When the Account Maintenance option is run, fully allocated transactions are archived or removed. All outstanding amounts, whether they are part allocated payments, disputed transactions or unpaid or part-paid invoices, remain on the ledger from one period to another. accounts.

Terms agreed

Select Terms agreed if all the credit terms have been agreed with the customer.

If it's not selected, then you'll see a message each time you enter a transaction for this customer.

Memo

Use the Memo to add any notes about this customer's credit position.