Debt control plays a major role in the success of any business. The majority of small organizations fail due to bad debts. The credit-control permits an effective method to control dept, cash flow, and risk analysis. It also helps to avoid late payments, outstanding debt management. This blog covers insights of credit control using Sage 50.
Credit Control in Sage 50
It is a specialized system developed for the organization to be assured to give credit to the people who can pay. This system improves cash flow; it is associated with motivating users to pay outstanding bills through the medium like phone calls, sanctions, statements and more.
- Monitoring transaction histories
- Storing the history of customers/suppliers contacts and mandatory information
- Managing bad debt
- Carrying transactions
- Invoice write-up.
Key Points Enclosed with Credit Control
This permits users to improve credit control measures which in turn lead to lessening aged debtors. There are many features available in Sage 50 which lets the user perform monitoring. They are payment terms, aging periods and due date periods.
- Payment Terms:
Payments terms are connected with client records. This helps in determining due invoice calculations. This includes an initial point and number of days. For instance
- Beginning of the month: 30 days
- Attestation date: 25 days
Whenever users enter an invoice, Sage 50 utilize customers payment feature for performing calculation related to the expected invoice.
- Aging Periods:
It is an outstanding feature which combines outstanding transaction through the time duration. This includes transaction aging from the date they have been [posted into the system.
- Due Date:
Due date is used to highlight the transaction escalation points.
How to Monitor Client Dept:
Sage 50 contains several numbers of inquiry screens and reports feature to monitor the Dept of the client. One can view the log details of customer outstanding depts. For instance: Aged Debtors and credit control work space are the two important features used for dept analysis.
Working of Dochyperlink:
Dochyperlink is an application associated with Sage 50 which enhances credit control. This includes users who can download their customize invoice and credit copy. The sage 50 has enhanced features that let customers download outstanding credit notes smartly. This results in cash collection improvement.
Perks of Credit Control using Sage 50
- Refining cash flow is an important factor for a streamlined business. Sage 50 contains Dochyperlink to permits users to fasten up the dept collection and reduce the business risk
- Save time and efforts of administration and staff. It permits cash collections, handling credit limits, credit control payments which lesson the credit risk
- Simple to set up and configuration
- Compatible with entire Sage 50 versions
- Verify the outstanding debt
- Discovering the details of customers/client
- Generate user’s statement.
How to contact us?
Hopefully, this blog covers major insights into credit control using sage 50. If you still, face any difficulty regarding the sage 50 technical errors. You can directly reach the team over the phone via Sage 50 customer support number 1800-910-4754 and get possible solutions to your issue. If you are unable to call then drop an email at email@example.com or chat with the professional via Sage 50 live chat and get an instant resolution.
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