Each time you create a new customer or supplier record, you can enter details such as the credit limit, trading terms and discount available for that account.
If you give most of your customers similar terms and conditions, or receive similar terms from many of your suppliers, you can use the Configuration Editor to set up defaults.
This saves you time as you do not need to enter the same information each time you create a new record.
In addition, if your company applies credit charges to customers who do not pay on time, you can set up your finance rates here.
Your software uses the rates you set up here in the Credit Charges wizard, when you apply charges to late-paying customers.
The following options are available:
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Credit Limit |
Enter the standard credit limit that you give your customers. If you are using the Foreign Trader module, enter the credit limit in your base currency. On your foreign currency customer accounts the same amount appears but in the currency of that account. |
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Payment Due Days |
Enter your usual credit terms - that is, the number of days that you usually give your customers to pay. |
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Sett. Discount |
If you want to offer early settlement discount, enter the default percentage in this box. |
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Sett. Discount Due Days |
You can give your customers a discount for early payment. If payment is received within the days you enter here, your customer can qualify for the discount you enter in Sett. Discount. |
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Terms |
Enter up to 30 characters of text, such as 30 Days. If required, you can print this on your invoices or statements. |
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Credit Limit |
Enter the standard credit limit given by your suppliers. If you are using the Foreign Trader module, enter the credit limit in your base currency. On your foreign currency supplier accounts the same amount appears but in the currency of that account. |
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Payment Due Days |
Enter your usual credit terms - that is, the number of days that your suppliers normally give you. |
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Sett. Discount |
If you are offered early settlement discount, enter the default percentage in this box. |
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Sett. Discount Due Days |
Your suppliers can offer a discount for early payment. If payment is made within the days you enter here, you can qualify for the discount entered in Sett. Discount. |
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Terms |
Enter up to 30 characters of text, such as 30 Days. |
To amend an existing finance rate, in the Customer Finance Rate section > Edit
To delete a finance rate > Delete.
To update your company > Save.
The following options area available:
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Date From |
Enter the date you want the new interest rate to apply from. |
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Base Rate % |
Enter the current base rate here. |
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Additional % |
If you want to charge interest above the current base rate, enter the additional percentage here. |
To save your changes
Save - to apply changes to the company and the template (.xml file) listed in the Filename box.
Save As - to apply changes to the company and save changes to the template in a different location on your computer; perhaps to create a template.
Apply - to apply changes to the company but not change the template.
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