How to check Customer credit worthiness in receivables


Basic Business Need

Business organization requires to assess customer credit worthiness to ensure payments are done correctly by customers for their purchases

If customers are not paying their dues properly for their purchase items, its business team responsibility to follow up with customers and collect due amount

Moreover business requires to assess and classify risk rating of their customers.

Solution

Customer credit snapshot report in accounts receivables

Brief

we can use this report to see an overview of customer's credit history.
This report provides customer aging, credit history, and brief look of last transaction recorded for this customer

This report provides following,
a. adjusted balances = outstanding dues -unapplied or on-account receipts
b. on account cash
c. unapplied receipts total
d. outstanding due amount

Aging buckets - prints total pending due amounts and percent constitutes under each buckets

History section
This section displays historical information of customer accounts.
Provides largest invoice and highest credit limit assigned to this customer

Rolling 12 month summary section
This section provides details about following indicators,

Sales gross, payments, credits,
Finance charges, amounts written off,
earned discounts, unearned discounts,
NSF/Stop payments, Average payment days, average days late,
number of late payments, no. of on-time payments

Last transaction summary section

Display last transaction made by the customer below types,
invoices, debit memo, credit memo, deposits, guarantee, payments, chargebacks, adjustments, writeoff's


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