Credit days Check and new Credit Rules: Useful feature for Wholesalers
Wholesalers and distributors raise a sale invoice for the retailers with a certain credit amount and credit days limit. With a large customer base, it becomes important to track violations of this limit and in some cases restrict further invoicing to a customer. Ginesys has introduced 3 credit rules which can be configured for the customer invoicing:
1 Check only credit amount/credit limit
2 Check only overdue bills
3 Check both limit and overdue bills
4 No checks
Rule 1 was the default configuration where further invoicing could be blocked or a warning displayed if the total balance amount was exceeding the limit defined for the customer.
In Rule 2 if the wholesaler configures N days as overdue limit then the software will check if there are bills more than N days old which are not fully paid before allowing further invoicing/ dispatch.
For Rule 3 both limit and overdue days of the customer will be tested before allowing further billing.
Another great point is that we have added a tolerance to the amount which is configurable per customer. So if the limit is exceeded by only an insignificant amount then you can still allow billing to proceed. This is relevant for rule 1 and 3.
Wait there is more, you can import this configuration from an Excel file for your entire list of customers in one-shot! Isn’t that awesome?