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What you’ll get out of this

  • Smart credit limits based on AI analysis of customer data
  • Payment tracking with automated reminders and alerts
  • Risk assessment to minimize bad debt
  • Flexible credit terms that work for your business

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Setting Up Credit Accounts

1

Enable Credit for Customer

Go to a customer’s profile and click “Enable Credit” to set up a credit account.
You can enable credit for any customer, but consider their payment history and relationship with your business.
2

Set Credit Limit

Choose a credit limit based on:
  • AI recommendation: Based on customer data and payment history
  • Manual limit: Set your own limit based on your assessment
  • Graduated limits: Start low and increase over time
  • No limit: Unlimited credit for trusted customers
Credit Limit Setup
3

Configure Payment Terms

Set up payment terms for the credit account:
  • Payment period: Net 15, Net 30, or custom terms
  • Late fees: Optional late payment fees
  • Discounts: Early payment discounts
  • Payment methods: Accepted payment methods
Clear payment terms help prevent misunderstandings and ensure timely payments.

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Managing Credit Transactions

1

Record Credit Sales

When making a sale on credit:
  • Select customer: Choose the customer with credit account
  • Add products: Select products or services
  • Apply credit: System automatically applies available credit
  • Record transaction: Save the credit transaction
Always verify the customer’s available credit before making a sale. The system will warn you if they’re at their limit.
2

Track Payments

Record payments received:
  • Payment amount: How much the customer paid
  • Payment method: Cash, check, bank transfer, etc.
  • Payment date: When the payment was received
  • Apply to invoices: Which invoices the payment covers
Apply payments to specific invoices to maintain clear records of what’s been paid.
3

Monitor Outstanding Balances

Keep track of what customers owe:
  • Current balance: Total amount owed
  • Overdue amounts: Past due payments
  • Credit available: Remaining credit limit
  • Payment history: Recent payment activity
Credit Balance Dashboard

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AI-Powered Credit Intelligence

1

Credit Risk Assessment

The AI analyzes customer data to assess credit risk:
  • Payment history: How consistently they pay on time
  • Transaction patterns: Spending and payment behavior
  • Business relationship: Length and quality of relationship
  • External factors: Market conditions and industry trends
AI risk assessment helps you make informed decisions about credit limits and terms.
2

Smart Credit Limits

Get AI recommendations for credit limits:
  • Conservative limits: Lower risk, smaller limits
  • Moderate limits: Balanced risk and opportunity
  • Aggressive limits: Higher risk, larger limits
  • Custom limits: Override AI recommendations when needed
AI recommendations are suggestions only. You always make the final decision about credit limits.
3

Payment Predictions

AI predicts payment behavior:
  • Payment probability: Likelihood of on-time payment
  • Collection difficulty: How hard it will be to collect
  • Optimal timing: Best times to send payment reminders
  • Risk factors: What might affect payment ability
Payment predictions help you prioritize collection efforts and manage cash flow.

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Payment Reminders and Collections

1

Automated Reminders

Set up automatic payment reminders:
  • Pre-due reminders: Gentle reminders before due date
  • Due date reminders: Notifications on the due date
  • Overdue reminders: Escalating reminders for late payments
  • Custom schedules: Set your own reminder schedule
Automated reminders save time and ensure consistent follow-up with customers.
2

Collection Strategies

Use different approaches for different situations:
  • Friendly reminders: For customers who usually pay on time
  • Firm follow-up: For customers with payment issues
  • Payment plans: Offer structured payment arrangements
  • Collection agencies: For seriously overdue accounts
Collection Management Interface
3

Track Collection Efforts

Monitor your collection activities:
  • Reminder history: All reminders sent to customers
  • Response tracking: Customer responses to reminders
  • Collection success: Which strategies work best
  • Performance metrics: Collection rates and timing
Tracking collection efforts helps you refine your approach and improve payment rates.

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Credit Reports and Analytics

1

Credit Portfolio Overview

Get a complete view of your credit portfolio:
  • Total outstanding: All money owed by customers
  • Credit utilization: How much of available credit is used
  • Payment trends: Whether payments are improving or declining
  • Risk distribution: Breakdown of credit risk levels
Credit Portfolio Dashboard
2

Customer Credit Reports

Detailed reports on individual customers:
  • Credit history: Complete payment and transaction history
  • Risk assessment: Current risk level and factors
  • Payment patterns: How and when they typically pay
  • Recommendations: Suggested actions for the customer
Use credit reports to make informed decisions about credit limits and collection strategies.
3

Performance Analytics

Analyze your credit management performance:
  • Collection rates: Percentage of payments collected on time
  • Bad debt rates: Percentage of uncollectible accounts
  • Collection efficiency: How quickly you collect payments
  • Customer satisfaction: Impact on customer relationships
Regular performance analysis helps you optimize your credit management processes.

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Best Practices

Begin with lower credit limits and increase them gradually as customers prove their reliability. It’s easier to increase limits than to reduce them.
Always communicate credit terms clearly to customers. Make sure they understand payment expectations and consequences of late payments.
Periodically review credit limits and terms. Customer circumstances change, and your credit policies should adapt accordingly.
Keep detailed records of all credit transactions, communications, and collection efforts. Good documentation protects you and helps with collections.

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Troubleshooting

You can temporarily increase their limit for a specific transaction, or ask them to make a payment to free up credit.
Check that the payment was applied to the correct customer and invoice. You can always adjust or add payments after the fact.
AI learns from your data. If recommendations seem off, check that you have enough payment history and transaction data for the customer.
Review the customer’s payment history and consider adjusting their credit terms or collection approach. Sometimes a personal conversation is more effective than automated reminders.