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Using Credit Limits, Credit Holds and Days Overdue

There are three factors that will determine whether an invoice can be committed against a particular organisation:

  1. Are they on credit hold?

  2. Including this invoice, will they reach or exceed their preset credit limit?

  3. Do they have unpaid invoices greater than a specified number of days overdue?

These factors can be used individually or in combination.

1. Credit Hold

Under Accounts Receivable, Organisations, Other Info you can place an organisation on Credit Hold, so that no invoices can be committed for this organisation, although they may still be saved as drafts.

To print a list of organisations on credit hold go to Accounts Receivable, Other Reports, Organisations on Credit Hold.

2. Credit Limits

When invoicing, you will be warned if this organisation exceeds its credit limit. This can be set globally for all organisations and customised for individual organisations.

Global Credit Limit

Under Accounts Receivable, Miscellaneous Settings, Invoices you can set a Global Credit Limit that will apply to all organisations that do not have their own credit limit. However, for the global limit to apply, you must enable Show Outstanding Amounts under Accounts Receivable, Miscellaneous Settings, Invoices.

If you do not want a global credit limit, enter zero.

Organisation's Credit Limit

An organisation's credit limit may be set up under Accounts Receivable, Organisations, Other Info. The global credit limit is then ignored for this organisation. If you want the global credit limit to apply, set its credit limit to zero.

When invoicing, if this account exceeds its credit limit or is about to exceed its credit limit you will be warned:

You can print a list of organisations that have been given a specified credit limit under Accounts Receivable, Other Reports, Organisations with a Credit Limit.

Hint: If you use a generic cash sale account for Point of Sale invoicing, credit limits and account balances are not as relevant. This may be bypassed by enabling Don't show account balance box automatically for your designated cash sale account.

3. Too many days overdue

Under Accounts Receivable, Miscellaneous Settings, Invoices you can specify a warning to appear when an organisation has an amount overdue more than x days. This is a global setting that will apply to all organisations. For example, if your trading terms are 30 days and the warning is set to 15 days, the warning message appears for any organisations with unpaid invoices older than 45 days.

For methods (2) and (3) you can specify which users are allowed to override the warnings (and commit the invoice) under under Accounts Receivable, Users, Permissions.

NB. Some features require version 11.01.019 or later.

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