Applies to

• Credit Hound v4
• Credit Hound v5
• Credit Hound v6

(all when connected to Sage 50 Accounts)

Scenario 1

• Trading Terms Text not set in individual Account in Sage 50
• Payment Due is 0
• But, Sage 50 has default terms for accounts
• No business terms set up at Credit Hound Manager

Steps to process

When we create an invoice on this Account Ref: "Test Account 1", the due date will be automatically 30 days after the invoice date in Sage 50 according to the default terms in Sage 50 configuration.

If we check the Business Terms tab in Credit Hound Manager, we see no terms set.

Then, we will run a full synchronisation in Credit Hound.

After a full synchronisation, we see the invoice was pulled into Credit Hound with the same due date defined as on the Sage 50 invoice.

Note

This means that, if there is no business terms set ups at Credit Hound Manager, Credit Hound will follow Due Date of Sage 50 invoice directly. Credit Hound does no calculations for the due date of that invoice.

Scenario 2

• Trading Terms Text is set in individual Account in Sage 50
• Payment Due is 0
• Also, Sage 50 has default terms for accounts

Steps to process

Will create a new invoice, the due date will be automatically 30 days after the Transaction Date. But we will modify a little reducing the Due date by ourselves.

We manually reduced the due date in Sage 50 from 24/01/2018 as 01/01/2018. When we run a full synchronisation in Credit Hound we see that the Credit Hound shows the due date exactly as in Sage 50.

Note that there are no business terms set up in Credit Hound Manager until now.

Adding a Business Terms rule

We will set one business term called '30 Days Strictly Net' that follows the Accounting system for 'Days to Add' in Credit Hound Manager.

And click "Apply Retrospectively" button.

Again, we run a full synchronisation in Credit Hound to check the due date of our invoice, originally 01/01/2018, is now updated to 24/01/2018 which is 30 days after Transaction Date.

However we see that the due date is the same as the transaction date (which is not correct). 

If we check the left sidebar Business Terms tab, we see that "Terms" shows ’30 Days Strictly Net’ but that "Days to Add" is 0.

We can update ‘Days to Add’ value within Sage 50 accounts.

Let’s change this value to be 30, the "Payment Due" field in Sage 50 will be used as the ‘Days to Add’ field in the account view in Credit Hound.

We switch to Credit Hound Manager and click "Apply Retrospectively" button again. After running a new Full Synchronisation, we see the invoice Due Date is correct now.

Yes, the due dates of invoices become correct by following the business term setting up at Credit Hound Manager. But in sage 50 the due dates for those transaction are as follows.

The due date of invoice 'Test 2' on Sage 50 is not the same as in Credit Hound because in Sage 50, we reduced the due date when inputting the invoice in Sage 50.

In Credit Hound, however,  we defined the business term to be 30 days according to accounting system and so, the due date of invoice 'Test 2' is becoming correct as '24/01/2018'.

Notes

If you want to set/use the business terms in Credit Hound Manager, please make sure that you put the correct value for 'Trading Terms Text' at Sage 50 account.

If your Credit Hound Manager business term is set to follow 'Accounting' for 'Days to Add', please make sure that you put correct 'Payment Due' value for the accounts in Sage 50.

Above: Credit Hound Manager

We can then see the Business terms working correctly in Credit Hound.