Using the customer credit limit function within MYOB is useful to ensure you don't exceed the credit limit for your customers.
To set a credit limit for a customer in MYOB BusinessBasics and earlier versions of MYOB:
If you enter an invoice which will exceed the credit limit set, you will receive a message "This sale will exceed the credit limit by..."
You then have the option to either cancel or accept the invoice.
To enter a credit limit for a customer in MYOB Accounting v15 or Premier v9:
Note: With the new releases of MYOB you can place a customer on credit hold. Simply click the tick box "Place Customer On Credit Hold".
The words "On Credit Hold" will appear on the customer card in red, next to the customer's name. Also if you select this customer when creating an invoice you will receive a message advising that the customer is on credit hold.
Within the latest releases of MYOB, you also have the option to receive a warning if the credit limit is exceeded when creating an invoice or even prevent the sale from being processed until an override password is entered.
To select this option:
You can then select either the "Warn and Continue" or "Prevent Unless Overriden" option. If you select the "Prevent Unless Overridden" option, then a window will display allowing you to enter a suitable password.
From MYOB Accounting version 19 and MYOB Premier version 13, MYOB introduced the Actions Menu.
To edit and set customer credit limit as well as put a customer account on hold, click on the Actions button as shown below.
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