The Credit tab holds credit reference information for the customer.
Open: Sales Ledger > Sales Accounts > Enter New Account | Credit.
Open: Sales Ledger > Sales Accounts > Amend Account Details.
Enter the Credit Terms you have agreed with your customer.
Enter the text to describe the terms you have agreed with the customer, e.g. 60 days. This can be printed on your invoices or statements and other stationery if required.
Enter a reference associated with a customer. This is usually obtained from a credit control agency.
Sage 200 Accounts uses this information in conjunction with the credit information you have set up in the Accounting System Manager module to help you check a customer's credit status.
You can use the Finder button to the right of the Credit Ref. box, to open the credit bureau's website in Internet Explorer. You must have entered the website URL in the bureau settings in Accounting System Manager.
Use this to automatically search for a Credit Reference for this customer.
Select the credit reference bureau you use for this customer, from the drop-down list.
The default credit bureau appears here automatically when you create a new customer. You set up the list of bureaus in the Accounting System Manager.
The Average time to pay is calculated automatically. It shows the average time (in days) that a customer needs to pay their invoices.
Note: This only applies to open itemOpen item accounting is probably one of the most widely used methods for computerised accounts. It enables all outstanding transactions to remain visible on the account record, until such time as they are allocated and removed when the period is closed. Transactions, such as invoices, paid when payments are posted to the ledger, can be specifically allocated to the individual transaction to which they relate. Provided the whole outstanding transaction is allocated in this way, the period end routine removes it, freeing disk space for new transactions. However, the details of the transactions remain on file until period end. 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, showing full details, until such time as they are fully allocated, and have exceeded the time limit set in the ledger setting 'Keep transactions for'. accounts.
Select a credit reference status for the customer, from the drop-down list.
You set up the list of Credit Positions in the Accounting System Manager module.
Select this if all the credit terms have been agreed with the customer.
Select this to add interest charges to customers who do not pay their invoices on time. Select the percentage charge you want to apply from the drop-down list.
You set up the available percentage rates in the Sales Ledger settings Processing tab.
To add interest charges to your customer accounts, you generate finance charges.
Enter the Credit review details if applicable.
A/C opened.
Enter the date when the customer's account was first opened.
This helps to evaluate how long the account has been trading which may influence the decisions you make concerning credit terms.
Last credit review.
Enter the date when the customer's credit details were last reviewed.
Next credit review.
Enter the date when the customer's credit details should next be reviewed. For example, you may want to review on a six-monthly basis.
Application date.
Enter the date the customer applied for credit.
Date received.
Enter the date the credit application was received.
Memo.
Enter any additional notes in the Memo area. You can enter up to 1000 characters.