Customer Financial Tab
For the Other Action Menu options (press or ) see Customer Other Actions Menu.
[ Customer | Detail | Financial ] screen contains the financial information for a customer or supplier. In addition to having this screen enabled in your user profile, you will also need to have HQ permission enabled on your user permissions to allow you to edit the
[ Supplier | Financial ] or
[ Customer | Financial ] screens.
[ Customer | Detail | Financial ] screen is divided into six areas:
Note: Some of the options are only available on the customer screen (Cu) and some only on the supplier screen (Su).
- Disc/Ovr: percentage discount (to put on sales order by default) and overrider discount (used to allow a sales invoice's value to be included when calculating the amount of discount allowed to the customer), see How To: Apply Customer Discounts. This is for customers only and does not affect Suppliers and Purchase Orders.
Note: the discount will be applied in addition to any other discounts the customer may be entitled to from price lists, special offers, etc., regardless of any system values settings.
- Pay Type: this is used to set the payment type on sales orders created for the customer. The customer will initially inherit he payment type from the customer classification they were assigned, although this can be changed manually and will override that payment type set against the customer classification set in
[ System Data | Accounts | System Payment Types ](e.g. cash, cheque, credit card, account, voucher, credit note), see How To: Change a Customer's Default Payment Type.
Note: changing a customer's payment type will not retrospectively change the type against any outstanding sales orders.
- Terms: payment terms for account customers (e.g. number of days from Invoice Date or Month End. Terms can also be configured as a number of months). The payment terms are reflected in the "due" message, which appears on the Sales Invoice report, for example "Terms: 30 days from invoice. Due date: 24/02/2011".
Note: Setting terms to zero will result in a "Payment on Delivery" message being printed on Sales Invoice reports, unless the Sales Order is fully paid.
- Credit Limit: credit limit set for this customer in their currency. Customers are not put onto credit stop when they exceed this limit but their outstanding balance will show in red (a warning is displayed when attempting to create an order for a customer whose account balance exceeds their credit limit), see How To: Change a Customer's Credit Limit.
- Credit Code: a free text field. You can use this field to record a credit code that means something to your business, for example, a code of '999' could mean 'account written off'. It is also used to prevent sales orders being created for customers with a warning stating that the customer is on 'Credit Stop', see How To: Prevent Sales Orders being Created for Customers. You could also use the customer status instead, or you may find another use for this field. Apart from Credit Stop, both customer status and credit code do not affect the behaviour of the system and are used for information only.
- Inv Copies (Cu): when a sales invoice has been generated for a customer it goes into the Sales Invoice Manager. From there it is possible to specify the number of copies that need to be printed for each invoice. This value specified here will set the default number of copies to print for the customer. Therefore, a customer that requires a copy for signing and a copy for sending to location 'x' can have the correct number of copies printed automatically.
Credit Review (Sales Ledger)
- Credit Controller: loads the list of Khaos Control users, based on
[ System Data | Users ]so users responsible for the account can be linked to the company.
- Reviewed: records the date on which the Customer's credit status was last reviewed.
- Method: how credit was reviewed (e.g. bank and trade references, turnover analysis, average days to pay). Pressing the adjacent icon opens the Credit Review dialog, which provides information concerning earlier reviews. The opens the Credit Review Dialog.
- Credit Ref: reference/codes identifying when/how customer's credit limit was checked. This first option is usually used to record the any reference number that has been provided based on the Method by which the credit was checked. e.g. if the company's credit was checked via Equifax, this field can be used to record Equifax's reference number.
- Credit Ref: an additional field that can be used to record any other reference number associated with checking the company's credit. This may be an internal reference number, or the name and reference number of another credit reference agency.
- Debt Stage: indicates action for recovery of outstanding balances (e.g. none, initiate debt action, debt action stage 2, debt action stage 3, hold action). The system can process items through debt chasing stages automatically. The opens the Debt Chase Stages Dialog used to manage the debt stages of customers who owe money.
- Terms: the payment terms (in days) are used in conjunction with the terms period (the drop-down list next to it) to calculate when an invoice is due for payment. This calculation is used on the customer's invoice, the customer's statement and in the debtors section of the accounts form. The terms period indicates whether the payment is due 'x' number of days from the date of the invoice or 'x' number of days from the end of the current month.
- Credit Limit: this is your credit limit with your supplier in their currency. It is displayed in the Credit Limit column in the
[ Accounts | Debt Management ]grid.
- Settlement Discount %: allows you to enter an amount in the base ledger currency that the purchase invoice is being discounted by. It does not affect the purchase invoice directly, but rather creates a credit entry on the purchase ledger (the supplier's statement) for the discounted amount, which is allocated to the purchase invoice automatically by the system, thereby reducing the overall outstanding balance.
Knowing the details of a debtor's current bank account can be helpful for debt recovery.
- Bank Name: name of customer's bank.
- Account: customer's bank account number.
- Sort Code: sort code for customer's branch.
- Country: country where company is based. The country must exist in system tables, maintained using
[ System Data | Others | Countries ].
- Currency: billing currency. The currency must exist in system tables, maintained using
[ System Data | Accounts | Currencies ].
See How To: Change a Customer's Currency.
- SNominal: nominal account to post sales transactions into, if none is specified elsewhere. Nominal accounts are maintained using
[ Accounts | Detail | Nominal Accounts ].
- PNominal: nominal account to post purchase transactions into, if none is specified elsewhere. Nominal accounts are maintained using
[ Accounts | Detail | Nominal Accounts ].
- Nominal Class: the class of nominal associated with the supplier so when a nominal transaction is posted for the company, the journal will have the nominal classification for the company stamped against it, for example advertisements placed in a trade magazines could be associated with the "Marketing" nominal classification. Likewise, when optionally associated with a customer record, the Nominal Class will be recorded with the Sales Invoice posting for that customer.
- EORI Number: the Economic Operator Registration and Identification (EORI) number which is used by HM Revenue and Customs (HMRC) to identify you and collect duty on your goods. This is where you setup your customers and suppliers EORI number.
- INCO Terms: the INCO Terms for this customer as setup in
[ System Data | INCO Terms ]screen. These then appear in the
[ Sales Order | Detail | Additional ]tab for that customer.
- : brings up the Credit Card List dialog listing the details of all credit cards used previously by this customer. See How To: View a List of Customer Credit Cards.
- Min PO Value (Su) (default=0.00): prevents Purchase Orders being saved until the minimum order value has been met. The minimum purchase order value is setup per individual supplier, see How To: Setup and Use Minimum Purchase Order Value. If left at '0.00' no minimum is set.
- Carriage Free Amount (Su): holds a the monetary value so when a Purchase Order is raised for a supplier, the total order value will be checked against this amount.
- If the order value is less than the Carriage Free Amount a warning will appear, but the user can still save the purchase order. See How To: Setup a Warning when a Purchase Order is below a Value for Delivery Costs.
- The amount is Net (i.e. excluding Delivery and VAT).