Assigning Credit Information to Customers
Access the Customer Master Revision form and then select the Credit tab.
- Credit Limit
Enter the total amount that you allow the customer to spend on purchases before the system sends a workflow message. This value is used throughout the credit management programs. The system maintains the credit limit at the customer (child) level, not the parent level. The system sends workflow messages for all customers who are over their credit limit. When you set up or change the credit limit, the system sends a workflow message to the credit manager that the change is pending approval. The change to the credit limit is not reflected in the customer record until it is approved by the credit manager.
- Credit Manager
Enter the name of the credit manager who is responsible for approving changes to the credit limit. You must set up the credit manager in the address book, and then create an entry in the UDC table 01/CR. When you set up the UDC value, you must also enter the address book number of the credit manager in the Description 02 field.
You enter the UDC that represents the credit manager in this field.
- Credit Message
Enter the value in the UDC table 00/CM that indicates the credit status of a customer or supplier. Examples are:
1: Over credit limit.
2: Requires purchase order.
3: Not on contract maintenance agreement.
The system displays the message when you click in the detail section of the form.
- Person Opening Account
Displays the user ID of the person who created the customer record. The system supplies the user ID.
- Last Reviewed By
Displays the person who completed the last credit review. The system completes this field with the user ID of the person who enters or revises the credit limit.
- Financial Stmts on Hand (financial statements on hand)
Enter the date that financial statements were received to evaluate a company's credit worthiness. Complete this field to specify when you receive financial statements from the customer.
- Dun and Bradstreet Date
Enter the date that Dun & Bradstreet ratings were available.
- Experian Date
Enter the date that Experian ratings were available.
- Recall for Review Date
Enter the review date for the customer's credit information.
- Date of Last Credit Review
Enter the date on which the credit manager last examined this customer's payment record and assigned a credit status to the account.
- Date Account Opened
Displays the date that the customer record was created.
- ABC Code Sales
Enter the grade that indicates the level of sales activity for a customer or inventory item. This grade documents the 80/20 principle (80 percent of the significant results is attributable to 20 percent of the business effort). The possible grades are A (best) to F (worst).
- ABC Code Margin
Enter the code that represents an item's ranking by average investment. You can assign a code or let the system assign it. Valid codes are:
A: Assign this item to the first amount ranking.
B: Assign this item to the second amount ranking.
C: Assign this item to the third amount ranking.
D: Skip this item in the ABC Analysis.
If you leave this field blank, the system assigns the code when you run the ABC Analysis program (R4164) based on an item's value as follows:
Total Item Average Investment divided by Business Unit Average.
Investment equals the Item's Calculated Value Total.
- ABC Code Average Days
Enter the grade that indicates the average number of days a customer takes to pay a bill. This code documents the 80/20 principle. The possible grades are A (best) to F (worst).