Knowledge Center

Critical financial customer settings

Before trading with a new Customer (CUS), some financial settings are required. These settings are critical to the accountancy. Other settings are recommended for more details about each CUS. The financial settings can be found in the Settings tab on the CUS.

Required fields
  1. Currencies

    The currency(-ies) valid for this CUS. The field can contain more than one currency. You must at least register one currency. If you have agreed to invoice your CUS in local currency, this is the one you must choose.

  2. Payment terms

    You usually agree upon this when you start trading with a new CUS. Due date on invoices are calculated based on Payment terms.

  3. VAT registration number

    The Value Added Tax (VAT) registration number is a unique number assigned by the relevant tax authority. It is crucial to the VAT handling on the customer's transactions.

  4. Enterprise number

    This is the customer's legal entity, it is a unique enterprise number.

Recommended fields
  1. Require approval if overdue

    Click this checkbox if approval of documents are required before shipping, if already invoiced orders are overdue.

  2. Credit limit

    Credit limitations for the customer. Approval is required if the invoice amount exceeds the credit limit.

Rules for handling interests, reminders, VAT, and payment methods can be specified for each CUS. If nothing is specified, the company's default financial setup will be used.

Only use these fields if you want to overrule the company settings.

Fields for customer specific settings
  1. Interest fee amount

    Use this field if you want to set a special fee for interest notes for this CUS. Otherwise, the company settings will be used.

  2. Interest rate

    Use this field if you want to set a special interest rate for this CUS. Otherwise, the company settings will be used.

  3. Send Reminders

    Click this checkbox to send automatic reminders on outstanding amounts to this CUS. Otherwise, the company settings will be used.

  4. VAT handling

    The company settings and the CUS order usually settle the VAT handling. Only use this field if you want to overrule the system's VAT calculation. Set Always include VAT if the CUS always has to pay VAT on orders and invoices. Set Never include VAT if it never has to pay VAT on orders and invoices. Set Use default VAT if the CUS should use the company settings.

  5. Intercompany code

    Use this field to identify internal customers/suppliers.