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Using MYOB's customer credit limit function

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:

  • Go to the Card List
  • In the Cards List window select a customer card and click Edit
  • Click on the Selling Details tab
  • Enter the amount in the Credit Limit field.

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:

  • Click Cards List in the Card File Command Centre
  • In the Cards List window select a customer card and click Edit
  • Click the Selling Details tab
  • Click the Credit Limits & Hold button
  • Enter the amount in the Credit Limit field.

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:

  • Ensure you are logged into your company file as the Administrator user
  • Select Setup from the menu
  • Click on Preferences
  • Click on the Sales tab
  • Select the last preference "If credit limit is exceeded on a sale..."

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.

MYOB Premier news update

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.

MYOB Actions Menu - Edit Credit Limit & Hold

MYOB Edit Customer Credit Limit & Hold

 



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