Credit Info Tab

Use the Credit Info tab on the Manage Customers screen to apply finance charges and set credit limits for customer accounts. You can also review a customer's account receivable information to determine a customer's available credit and other balance information.

You must set up the Configure Accounts Receivable Settings screen to allow for finance charges to be accrued before you can apply finance charges to a customer's account.

Credit Information

Field	Description
Apply Finance Charges	Select this check box to apply finance charges to this customer. You cannot select this check box if you have not selected the Automatically Apply Finance Charges on Accounts check box on the Configure Accounts Receivable Settings screen. The system calculates finance charges by multiplying the number of days outstanding by the annual rate; this figure is then divided by 360 times the amount outstanding. In general, governmental agencies should not select this check box.
Number of Grace Days	This field automatically displays the Number of Grace Days field from the Configure Accounts Receivable Settings screen, but it can be changed. The number of grace days is the number of extra days, past the due date, that a customer can pay an account before finance charges accrue. You must select the Apply Finance Charges check box to enable this field. Note: If you select the Apply Finance Charges check box, you must enter a value in the Number of Grace Days field. If you leave this field blank, you cannot exit or save.
Annual Percent	This field displays the value entered in the Annual field on the Configure Accounts Receivable Settings screen. Change this field only if you want to apply a different rate to this customer. The rate is divided by 360 to determine a daily rate. You must select the Apply Finance Charges check box to enable this field. Note: If you select the Apply Finance Charges check box, you must enter a value in the Number of Grace Days field. If you leave this field blank, you cannot exit or to save.
Credit Limit	Enter, or click to select, a credit limit for this customer that reflects your company policy and procedures. If the available credit limits do not meet this criterion, you can set up additional credit limits on the Manage Customer Credit Limits screen. When you print customer statements, any amount over the credit limit will be included in the minimum monthly payment due
Credit Number	If you use a credit rating service, enter the number that relates to this customer for that service. This field is optional and is not validated against other database information.
Credit Rating Code	Use this drop-down box to select a credit rating code for this customer. The credit rating codes are set up on the Manage Customer Credit Ratings screen. You may want to use the same rating codes that your rating service uses.
Rating Date	Enter the date on which the credit rating code took effect.

A/R Balance Information

The fields in this group are non-editable.

Field	Description
Outstanding A/R Balance	This balance is increased when accounts receivable are posted, and is decreased when cash receipts are posted.
Approved Order Balance	This balance is increased when Sales Orders are approved and is decreased when invoices are posted. Note: This field displays only if you are licensed for Sales Order Entry.
Credit Remaining	The system derives this figure by adding the Outstanding A/R Balance to the Approved Order Balance and subtracting that total from the Credit Limit Balance. Note: This field displays only if you are licensed for Sales Order Entry.

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Credit Info Tab

Use the Credit Info tab on the Manage Customers screen to apply finance charges and set credit limits for customer accounts. You can also review a customer's account receivable information to determine a customer's available credit and other balance information.

You must set up the Configure Accounts Receivable Settings screen to allow for finance charges to be accrued before you can apply finance charges to a customer's account.

Credit Information

Field	Description
Apply Finance Charges	Select this check box to apply finance charges to this customer. You cannot select this check box if you have not selected the Automatically Apply Finance Charges on Accounts check box on the Configure Accounts Receivable Settings screen. The system calculates finance charges by multiplying the number of days outstanding by the annual rate; this figure is then divided by 360 times the amount outstanding. In general, governmental agencies should not select this check box.
Number of Grace Days	This field automatically displays the Number of Grace Days field from the Configure Accounts Receivable Settings screen, but it can be changed. The number of grace days is the number of extra days, past the due date, that a customer can pay an account before finance charges accrue. You must select the Apply Finance Charges check box to enable this field. Note: If you select the Apply Finance Charges check box, you must enter a value in the Number of Grace Days field. If you leave this field blank, you cannot exit or save.
Annual Percent	This field displays the value entered in the Annual field on the Configure Accounts Receivable Settings screen. Change this field only if you want to apply a different rate to this customer. The rate is divided by 360 to determine a daily rate. You must select the Apply Finance Charges check box to enable this field. Note: If you select the Apply Finance Charges check box, you must enter a value in the Number of Grace Days field. If you leave this field blank, you cannot exit or to save.
Credit Limit	Enter, or click to select, a credit limit for this customer that reflects your company policy and procedures. If the available credit limits do not meet this criterion, you can set up additional credit limits on the Manage Customer Credit Limits screen. When you print customer statements, any amount over the credit limit will be included in the minimum monthly payment due
Credit Number	If you use a credit rating service, enter the number that relates to this customer for that service. This field is optional and is not validated against other database information.
Credit Rating Code	Use this drop-down box to select a credit rating code for this customer. The credit rating codes are set up on the Manage Customer Credit Ratings screen. You may want to use the same rating codes that your rating service uses.
Rating Date	Enter the date on which the credit rating code took effect.

A/R Balance Information

The fields in this group are non-editable.

Field	Description
Outstanding A/R Balance	This balance is increased when accounts receivable are posted, and is decreased when cash receipts are posted.
Approved Order Balance	This balance is increased when Sales Orders are approved and is decreased when invoices are posted. Note: This field displays only if you are licensed for Sales Order Entry.
Credit Remaining	The system derives this figure by adding the Outstanding A/R Balance to the Approved Order Balance and subtracting that total from the Credit Limit Balance. Note: This field displays only if you are licensed for Sales Order Entry.