One of the most important tasks while dealing with accounts receivable is collecting the amount due from the customer. Acumatica helps with this process by allowing the user to set credit limits for each customer. For example, you’ve sold a deal to a new customer who is also a brand-new business. You want to limit their credit as well as their allowable days past due. This is how to set up those limits:
In the Receivables module, under the Profiles section, click Customers
Search for the customer in the top right-hand corner with the spyglass or click the + at the top of the page to add a new customer
Under the GENERAL INFO tab within the CREDIT VERIFICATION RULES section, choose from the following:
Days Past Due
Limits days past due only
Credit Limit
Limits credit limit dollar amount only
Limit and Days Past Due
Limits both days and amounts
Disabled
No Limits
Choose the necessary limits based on your company’s policies
These can be edited at any time
Customer Status
Depending on your company’s policy regarding overdue receivables, the customer status can be changed to Credit Hold which will prevent further invoice creation
Another tool to use in Acumatica in order to manage credit hold status includes
In the Receivables module, under Processes, click on Manage Credit Holds
Choose from the following actions:
Apply Credit Hold
Customers who are past their credit limit and/or days (based on your previous choices) will show up on the screen
Either click the box next to the customer you want to apply credit hold to and click PROCESS or click PROCESS ALL to place all listed on credit hold
Release Credit Hold
Customers with Credit Hold as their status appear in this list along with their overdue balance, if applicable
Either click the box next to the customer you want to remove from credit hold and click PROCESS or click PROCESS ALL to remove all customers in the list from credit hold
Credit limits is another easy option within Acumatica to help you track as well as collect overdue customer accounts.
