| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
•
Invoicing (account)
• Discuss (mail) |
| Lines of code | 152 |
| Technical Name |
foss_customer_credit_limit |
| License | See License tab |
| Website | https://www.fossinfotech.com |
| Versions | 12.0 14.0 17.0 13.0 15.0 16.0 |
| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
•
Invoicing (account)
• Discuss (mail) |
| Lines of code | 152 |
| Technical Name |
foss_customer_credit_limit |
| License | See License tab |
| Website | https://www.fossinfotech.com |
| Versions | 12.0 14.0 17.0 13.0 15.0 16.0 |
Customer Credit Limit & Credit Days
This Module helps us to set the Credit Limit and Credit Days for the Customer's based on their Credits and also based on Customer's Due Amount Approvals can be raised by Users and the same can be approved or processed by Managers based on Customer's.
Highlights
Set Credit Limits
Setting of Credit Limits for a Customer. Credit Limit is the maximum amount of credit that you are willing to offer to a Customer.
Set Credit Days
Setting of Credit Days for a Customer based on their Credit Limits and Payments Terms.
Approvals of Credit Limits and Credit Days
Invoices could be processed when a Customer's Credit Limit and Days is fully utilized after the approval by Managers.
Multicompany
It Works for Multicompany Architecture
Advantages
- Credit Limit is nothing but it is the maximum amount of goods or services that the Customer's can get without paying money upfront.
- You can set Credit Limit and Credit days for a Customer based on their maximum amount of Credit or their ability to get the credit in future.
- It works for Multicompany Architecture.
- Setting up a Credit Limit Increases your sales (i.e) Your customers are likely to buy from you as their cash flow is not disrupted.
- Better customer loyalty (i.e) Offering credit limits to customers demonstrates trust. The fact you trust them to pay bills by the due dates encourages a loyal business relationship
- Competitive edge (i.e) By letting customers pay you later for goods and services ordered today, you give your customers more control over their money and also show your trust in them.
Benefits
- Setting of Credit Limits for a Customer. Credit Limit is the maximum amount of credit that you are willing to offer to a Customer.
- Credit Limit can be set for Customers, Based on Customer Due Amount or Credit.
- Credit Days can be set for Customer, based on their Credit Limits and Payments Terms.
- Invoices could be processed when a Customer's Credit Limit and Days is fully utilized after the approval by Managers.
- Credit hold (i.e) By using credit limits companies can also implement a credit hold policy for late, non-payment or for customers that have exceeded their credit limit without bringing the balance down.
- Reduced risk (i.e) Limiting the amount of credit offered to customers will limit the amount of bad debt a company is exposed to, should a customer fail to pay.
- Leverage (i.e) Credit limits can be used as leverage, to encourage customers to make higher value and quicker payments in order to remain under their limit. This will only work effectively, however, if credit limits are adhered to.
Go To - > Sales - > Customers -> Under Sales & Purchase Menu -> Below Payment Terms Field -> Specify the Credit Limit and Credit Days for the Customer. Only Managers will be able to edit Credit Limit and Credit Days Field in Customer Master.
Create a Sales Invoice with the Customer for whom the Credit Limit and Credit Days are given.
Clicking on Post button, the below Warning will be popped up if the Invoice Amount is more than the Credit Limit.
Waiting for Approval Button will be visible in Sales Invoices based upon two conditions. The Conditions are 1) Total Invoice Amount should be greater than the Credit Limit (Note : All the Invoices in Open state of mentioned Customer will be considered for valuation.) 2) Due Date of all the Invoices that are related to this Customer in Open state will be consisdered and button will be made visible if the current date is greater than the sum of credit days and the least due date.
Clicking on Waiting for Approval Button, the Invoice will become readonly and it will be moved to Waiting for Approval State.
Clicking on Post Button, the warning will be popped up as the Invoice is not in Approved State.
Approve Button will be visible only in Manager Logins.
Clicking on Approve button, the invoice will be moved to Approved State.
Even after the Credit Limit and Credit Days is fully utilized by the Customer, after approval of the Invoices, the User can Post the Invoice.
Credit Limit Warning will consider all the Invoices that are related to the Customer which are in Open State.
The Below Invoice is Posted with Due Date less than the Current Date.
Clicking on Post button, the below warning will be popped up if the current date is greater than the sum of credit days and the least due date by comparing all the invoices that are related to this Customer. As per the above approval process the Invoice can be Posted.
Read User Guide
Yes, the app works perfectly well with Odoo Enterprise as well as Odoo Community. Odoo Online (Cloud) does not allow installation of third-party apps and hence this app cannot be installed on Odoo Online.
You can contact us to request a customization in the app or you can write to us at sales@fossinfotech.com
Based upon Invoice Due Date, the Warning is set in Sales Invoices.
Yes, both Tax Amount and Sale Invoice Amount is taken into consideration in the Credit Limit Warning.
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