Tools for Account Approvals

March 4, 2018 in Accounts Receivable,Release 9.5

Release SymbolUsually when a customer applies to purchase goods and services on credit, they are subject to an account approval process before a line of credit is granted. During this time, the Customer Credit Flag can be set to a status of ‘Unapproved Account’.

There are various functions (outlined below) to assist with management of the account approval process.

List Customer Accounts Awaiting Approval (By Branch)

This is a report sorted and grouped by branch which shows you Customer accounts with a Credit Flag of ‘Unapproved Account’. The report can be used to find new accounts awaiting approval, or to review old accounts that have been set to ‘Unapproved’ due to being inactive for a specified period (refer to System Options for details on the specified period). This report is available to include in the nightly End of Day process if required.

List Customer Accounts Awaiting Approval (By Rep)

This is the same as the ‘By Branch’ report, except it is sorted and grouped by Sales Rep.

Application for Credit

This is a report that produces an application form to send to the customer to fill out when they are applying for credit. It contains some blank spaces and some pre-filled information based on the details you already have on file for the customer. You may need to adjust the form to suit your own specific business credit application requirements. Contact the Support Desk if you need assistance in adjusting the form content or presentation.

Letter to Accept Credit Application

This is a report that produces a letter that can be sent (via post, email or fax) to the customer once they are approved for credit. You may need to adjust the letter to suit your own specific business credit application requirements. Contact the Support Desk if you need assistance in adjusting the letter content or presentation.

Letter to Reject Credit Application

This is a report that produces a letter that can be sent (via post, email or fax) to the customer if their application for credit has been rejected. You may need to adjust the letter to suit your own specific business credit application requirements. Contact the Support Desk if you need assistance in adjusting the letter content or presentation.

Remove Unapproved Account Status

This utility can be used to set selected accounts to ‘Credit Approved’ status and also set the Credit Limit and Trading Terms for the customer. You can adjust these details via the Customer Details account maintenance, but this function allows you to update several accounts at once.

Customer Notes

The ability to record Customer Notes on an account to keep a record of any additional details can play a significant role in the process, especially when they are kept on file indefinitely so available for review in the future.  We suggest you consider have a Notes Category setup specifically for this purpose to assist with the management of the account approval process.

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