Chapter 103 Customer Credit

Big Business lets you set Terms and Credit Limits to help you control customer credit.

Big Business manages Customer Balances and Due Dates and includes:
• Warning or Preventing new entries for Credit Hold
• Generating Statements, Finance Charges, Discounts
• Reporting Accounts Receivable and Customer Agings

This Chapter will provide detail for each feature to help keep your receivables on time.


  Customer Terms

Customer Terms let you set how long a customer has to pay, whether they receive an early payment discount, whether they are assessed a finance charge for late payment.

Terms can be edited if you have, in your Employee card, All Access or Terms Access. Ask a system administrator for Terms Access or an account manager to make changes.

To create or define Terms, choose Show List in any Terms dropdown and Add or Edit.


  Customer Credit Settings

Big Business lets you Warn or Prevent Save of Orders and Invoices upon Credit Hold.

Credit Hold can occur when the customer is over their limit or a group limit, has Credit Hold checked, or exceeds Credit Hold Days setting by having unpaid invoice past due.

In Customer Prefs, in the Order Prefs, choose a setting for Credit Verification, such as Warn and in Invoices Prefs choose Prevent Save if needed to block over limit invoicing.


  Customer Credit Limits

Credit Limits work in conjuntion with Credit Verification settings to Warn or Prevent Save of Orders and Invoices that would put the customer or group over their set limit.

When you create a new customer the Default Credit Limit from Customer Prefs is set. If you have All Access or Terms Access you can change the Credit Limits if you need.

Orders are not due until invoiced, so if orders Warn, you may still have time to correct.


  Customer Credit Hold Days

Credit Hold Days let you set a number of days for past due invoices to get credit hold.

Credit Hold Days work in conjunction with Credit Verification for Orders or Invoices.

Set Credit Hold Days on a Customer card, History tab or in a Group using Show List.


  Credit Hold

Credit Hold is triggered by limits you set on Customers so you may pause to evaluate.

Credit Limits can be set on Customers and Groups.
Credit Hold can be set on Customers and Groups.
Credit Hold Days can be set on Customers and Groups.

Each setting can trigger credit hold to Warn or Prevent Save of new Orders or Invoices. Please check with someone who manages Customer Terms to evaluate and take action.


  Customer Payment Discounts

Big Business helps you offer early payment discounts for your customers with terms.

With Terms Access or All Access, you can Show List in Terms to Add or Edit entries. Set a Name, such as "2% 10, Net 30", and set Discount Days (10) and Discount % (2).

On Payments, after entering the Amount, click Auto-Apply to fill in the Discount due. See Discounts Allowed Category, and check Auto-Apply Discount in Customer Prefs.


  Customer Finance Charges

Big Business helps you assess finance charges for your past due customers with terms.

With Terms Access or All Access, you can Show List in Terms to Add or Edit entries. Enter Name (Net 30, 18% FC), check Assess, set Assess From, and Annual Rate (18).

Periodically, use the Finance Charge tool to create new Finance Charges as Misc. Sales. Issue Statements to show customers their Balance Forward or Open Items and charges.

See Finance Charge Category and Default Minimum Finance Charge in Customer Prefs.


  Customer Statements

Big Business helps you notify customers of aging balances by generating Statements.



  Terms Access

Big Business will only let you edit Terms if you have Terms Access or All Access set.

On Employee card, on the Access tab, are Access Privileges including Terms and more. If you have All Access, they are all turned on. Otherwise, click Terms to allow access.

See Access Privileges for additional information about setting specific access privileges.


  Inactive Access

Big Business will only let you edit Inactive if you have Inactive Access or All Access.

On Employee card, on the Access tab, are Access Privileges including Inactive Access. If you have All Access, they are already on. Otherwise, click Inactive to allow access.

See Access Privileges for additional information about setting specific access privileges.