Using FInsys ERP you can put the theory into Practical.
See this Demo of how your Finsys ERP protects your money.
Use this to prevent bad customers take you for a ride, or stretching you and your limited funds, too much.
Finsys ERP can do what no Spreadsheet and Google Drive can ever do.
You can block SALES INVOICES, if no pymt received for past as per commitments You can block New Sales orders from same party , if no pymt received for past as per commitments You can block even PRODUCTION ORDERS, if no pymt received for past as per commitments
Terms Related to Credit Sales Credit Limit – Credit limit is the maximum amount up to which the company can sell his material to a particular customer as credit sales. Credit Period – Credit period refers no. of days under which the customer has to make payment to the seller or when payment will be due for credit sales.
Risks involved in offering credit Reduced cash flow — you may wait for customer payments, which reduces your ability to purchase replacement products from suppliers.
Taking Interest bearing loans to extend interest free credit to the customers…..Usually, the cost of this only shows up in your profit and loss statement, so you need to keep this in mind when you are pricing your products and services.
Large debts — unpaid debts can pose a risk to your business. This is particularly true if you are exposed to large single transactions.
Using FInsys ERP you can put the theory into Practical