Customers (CUS) form - Payment tab

There are a number of payment details that must be set for a customer, especially if you plan to use Payment Collection Run to collect payments via a bank transfer.

  1. Specify this information:
    Priority Rating
    A priority code is used to group customers, suppliers and clients together for whatever reason. You can enter any number or character to represent the group to which the customer belongs. Certain system functions allow you to use this code to select the group for processing, for example Payment Collection Run, Payment Run and Account Statements.
    Credit Limit
    The amount of credit available to this customer in the base currency. Leave this blank if the customer has unlimited credit. For a customer, this limit is reported on the Aged Analysis reports. This limit is used when Credit Limit Checking is carried out in sales order processing.
    Note:  The credit limit can be amended here, but is actually held on the Chart of Accounts record where it can also be amended.
    Warning Limit
    The amount of credit that should produce a warning. If the customer's account balance exceeds this amount, a warning appears on Sales Entry when you enter additional transactions for this customer. Leave this amount blank if a warning is not required.
    Overdue Invoice Limit
    The amount of overdue invoices that this customer is allowed to have before any sales orders are credit held. Leave this field blank if the customer can have an unlimited amount of overdue invoices, or set the customer to be disabled from OIC. See Overdue Invoice Check Disabled. This limit is used when Overdue Invoice Checking is carried out in sales order processing.
    Note:  The overdue invoice limit can be amended here, but is actually held on the Chart of Accounts record where it can also be amended.
    Days Tolerance Override
    This option is used to override the number of days tolerance defined in the payment terms linked to the customer. If you choose this option you should enter the alternative number of days tolerance.
    Tolerance Days to Apply
    The number of days tolerance that applies to this customer for payment to be made. This number of days is added to the number of discount days defined in the payment terms to calculate the discount date for a transaction.
    Payment Method
    The method this customer uses to settle the account. The following methods are available:
    • Cheque Payment - the customer pays by cheque.
    • Bank Payment - the customer account is settled using the automatic bank payment method, for example by direct debit or BACS. If this option is chosen, the customer's bank details must be defined using Bank Details Setup (BNK). This option can only be selected if the automatic bank payments facility has been selected in Ledger Setup (LES).
    • Single Payment - a one-off customer pays using a single payment.
    • Not Specified - the customer uses an alternative method of payment.
    Default Bank Subcode
    If the customer has more than one bank account and payments are received using bank transfer, you must choose the default bank account to be used. Each bank account is identified by a bank subcode (as defined in Bank Details Setup (BNK)). You might also need more than one bank account, so the customer can settle the account in different currencies.
    Bank Details Setup
    Click Bank Details to set up or amend the customer's bank details using Bank Details Setup (BNK).
    Payment Terms Group Code
    The payment terms that apply to the customer which are defined using Payment Terms (PYT). They determine when a transaction is due for payment, whether any settlement discounts are allowed and can calculate other selected payment related dates and charges, or document dates. The payment terms group also determines whether a transaction must be split into instalments using Scheduled Payments.
    Direct Debit Payments
    This option must be selected if you want to generate debits on this account using Payment Collection Run. This applies to debtors/receivables and client accounts only.
    Immediate Settlement
    This option must be selected if the account is always to be settled in the next Payment Collection Run. This means the due date is ignored. Leave this blank if you want to include a transaction in a Payment Collection Run when the transaction is due for settlement, according to the terms identified in the payment terms.
    To select this option you must have selected a Payment Method of Bank Payment.
  2. Save your changes.