Credit Limit: It is an agreement or arrangement between an institution and a client to determine the maximum amount of indebtedness allowed for the client. Once this value is reached, it is not allowed to exceed or renew it in favor of the client until he pays off all or part of the indebtedness due to him as per the agreement.
Credit Period: It is an agreement or arrangement between an institution and a client to determine a specific time period within which the client will pay off the indebtedness due to him. The period is calculated starting from the date of the transaction, provided that it is not linked to any other periods for previous or subsequent transactions. The credit period is calculated from the date of each transaction separately.
Enabling the Credit Limit/ Credit Period
Click on “Clients” from the main menu.
Click on “Client Settings“.
Click on the “General” tab.
Click on the checkboxes for “Credit Limit” / “Credit Period Limit” to activate them.
