How do I deal with credit charges?

Summary

This article will explain how Platinum can be configured to apply credit charges automatically to invoices. These charges can be configured for individual customers and systems or set as a system default for all customers.

Enabling Credit Charges

Go to " Reports & Settings Maintenance Options System Administrator Platinum Settings Credit Charge Settings".

• To enable Credit Charges set "Credit charges" to 'Y'.
• A [Credit charges] tab will be added to every Sales Ledger Account.

How Charges will be Applied

There are two ways that charges can be applied.

• To apply charges to all customers at the same rate, set the "Default" to 'System'.
• To apply charges differently to each customer, set the "Default" to 'No'.

Setting the default to 'System' means all new customer records will by default incur credit charges for invoices raised for the specified modules. Ensure you amend internal or warranty accounts to ensure they do not incur credit charges. If you would prefer to configure the setting per customer leave this option set to 'No'.

Accounts Settings

Specify a 'Profit and Loss' centre to allow the system to accrue for the charges. You should also create a 'Sales centre' and link it to the 'Profit and Loss' centre to post the actual credit charges applied. The system posts an adjustment using this centre when the charges are applied using Sales ledger - Receipts.

• At "Profit and Loss", enter your credit charge 'Profit and loss' nominal centre. If you don't already have one then create a new centre.
• At the "Sales centre:", enter the 'Sales Centre' for the adjustment to post the charges through. If you don't already have a suitable centre create a centre and link it to a suitable Nominal centre.

Platinum Modules

There is a section for each Module of Platinum.

• 'SL " Sales Ledger"'
• 'SO " Sales Order Processing"'
• 'ST " Stock Control"' This will apply to " Point of Sale" and " Invoicing & Customer Orders".
• 'VS " Unit Sales"'
• 'WS " Workshop"'

Settings for Each Module

These settings are the same in the Credit Charge Settings as they are against a Customer record.

• To turn the Charge on for a Module, change "Charge" to 'Y'
• At the "% Charge", enter the percentage you want to charge.
• At the "Gross/Nett", set this to how you want the Charge applied either to the 'Nett' value of the invoice or to the 'Gross' value of the invoice.
• At the "Period", set the period after which you want the charge to apply. This can be either Days, Weeks or Month End and this will be set in the "Increments" setting.
• At the "Increments", choose between 'Days', 'Months' or 'Month End'.
• At the "Recurring", set this to 'No' if you only want the charge to be applied once or to 'Yes' if you want the charge to be applied on a recurring basis. If set to 'Yes', then this will use the settings that you set in "Period" and "Increment" to decide when the charge will be applied next.
• At "Interest", you can choose 'Simple' which will calculate the recurring interest on the original value of the invoice, or 'Compound' which will calculate the recurring interest on the original value plus the unpaid credit charges.

You may need to have your document formats changed so that they will show the charges. Please Contact your Platinum dealer or our support team on 0116 230 1500 or by using our website support contact page

See also

• How do I amend credit charges per customer?

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Keywords AND Misspellings

credit, charge, charges, credit charges