Credit limits and payment terms
Approved accounts ordering against terms, with overdue balances chased automatically.
Trade customers largely do not pay by card at checkout. They order against terms and pay on an invoice, which means extending credit — and credit needs a limit and a chase.
How it works
- An approved account carries payment terms and a credit limit.
- Orders can be placed against terms rather than paid up front.
- Overdue balances are chased automatically rather than depending on somebody remembering.
The limit is the part that protects you
Terms without a limit is an unbounded loan to a company whose finances you cannot see. The limit is not a statement of distrust — it is the number that stops a single customer’s bad quarter becoming yours.
Set it low at the start and raise it on evidence. Raising a limit is a pleasant conversation; reducing one is not.
What it does not do
It does not credit-check anyone, insure the debt, or collect it. Those are services you buy elsewhere, and on any significant exposure they are worth buying.
Stop reconciling stock by hand
One catalogue, six channels, one stock figure that stays right.