Entering a Customer or Supplier - Terms Card
Sales Credit Limit
Specify here the Credit Limit that you have granted to this company. You can use the Credit Limit setting to warn against or prevent the entering of Invoices for Customers who have exceeded their Credit Limit.
If you want to allow a company no credit at all, set their Sales Credit Limit to 0.01.
Purch. Credit Limit
Specify the Credit Limit extended to your firm by this company here. This is for information only.
Sales Pay. Terms
Paste Special Payment Terms setting
Used as default in Sales Invoices
Purch. Pay. Terms
Paste Special Payment Terms setting
Used as default in Purchase Invoices
If the company is a Customer, use the Sales Pay. Terms field to specify the Payment Terms that your company offers them. If the company is a Supplier, use the Purch. Pay. Terms field to specify the Payment Terms that they offer your company. These will be used to calculate the Due Date when entering Invoices and Purchase Invoice in this company's name and they therefore provide the basis for the debt-chasing reports provided in FirstOffice.
Price List
Paste Special Price Lists setting
Used as default in Invoices
If you wish to assign a particular Price List to a Customer, you can do so here. It will determine the prices used in Sales Invoices for this Customer.
Please refer to the Prices page for full details of how to use this feature.
On Account
Check this box if the company is a Customer from whom you want to be able to receive On Account Receipts (i.e. you want to allow them to pay before you have invoiced them) and/or the company is a Supplier to whom you want to be able to issue On Account Payments (i.e. to be able to pay them before you receive Invoices).
Before you can enter On Account Receipts, you must specify an On Account A/C in the Account Usage S/L setting. This Account will be credited with the value of these Receipts.
On the purchase side, before you can enter On Account Payments, you must specify an On Account A/C in the Account Usage P/L setting. This Account will be debited with the value of these Payments.
Type
Use these options to specify whether the Customer or Supplier is a company or a private individual. This will affect the check that the VAT Number is correct in Argentina and Paraguay.
