AutoCount Advanced Credit Term Plugin Setup Guide
Understanding AutoCount Advanced Credit Term Plugin
Understanding Advanced Credit Term Plugin AutoCount Advanced Credit Term Plugin automates early-settlement incentives and overdue penalties by dynamically calculating prompt-payment discounts and late-payment interest charges against credit terms. Users can configure multi-tier discount percentages by payment days, set late-interest charge tiers, define automatic posting routes via A/R Debit Notes, Sales Invoices, or Credit Notes upon saving A/R Payments, and enforce strict administrative permissions to manage credit policies and data consistency.
Benefits of Using the Advanced Credit Term Plugin
Incentivizes faster cash flow with multi-tier prompt payment discounts
Automates late payment interest calculations on overdue balances
Posts interest and discounts directly to Debit Notes, Invoices, or Credit Notes
Links calculated adjustments seamlessly to corresponding A/R Payments
Enforces strict access rights to protect credit policies and financial settings
How AutoCount Advanced Credit Term Plugin Works
A. Access Rights
Advanced Credit Term uses credit-term maintenance access together with plug-in rights for settings, the repair option, and license information.
1. Open Access Rights and assign Credit Term Show and Credit Term Open to users who maintain credit-term rules.
2. Expand SL PlugIns > Advanced Credit Term.
3. Assign Show Setting only to users authorised to change interest and discount document posting settings.
4. Assign Show Fix Option only to technical users who understand the repair action and have confirmed a database backup.
5. Assign Show License Info and Open License Info only as required, then save the access-right changes.
B. Open a Credit Term
The Credit Term screen lists existing AutoCount credit terms and is the starting point for maintaining early-payment discount and late-interest tiers.
1. Open Advanced Credit Term > Credit Term.
2. Select the required Credit Term row.
3. Click Discount to maintain prompt-payment discount rules for the selected term.
4. Click Interest to maintain late-interest charge rules for the selected term.
5. Click Refresh after changes to reload the credit-term list.
D. Maintain Late Interest Charge Tiers
Late Interest Charge rules define the interest percentage that applies once the payment reaches the stated late-payment day threshold for the selected credit term.
1. Select the credit term in Credit Term Maintenance and click Interest.
2. Click Add to create a new interest tier, or select a tier and click Edit.
3. Enter No of Days greater than or equal to the late-payment threshold and the Interest Rate.
4. Click OK to save the tier. Repeat for additional late-payment thresholds where needed.
5. Use Delete only after confirming that the tier should no longer apply.
E. Configure Interest and Discount Posting
Settings determines whether interest is generated through an A/R Debit Note or Sales Invoice, and which descriptions, accounts, and posting options are used for the linked documents.
1. Open Advanced Credit Term > Setting.
2. Select either A/R Debit Note or Sales Invoice as the interest-document method. Only one method can be selected at a time.
3. For the selected method, enter the interest document description and account number, then choose the Post Debit Note or Post Invoice Option.
4. Enter the Credit Note Description and Credit Note Account No used for prompt-payment discount credit notes, then choose the Post Credit Note Option.
5. Review the displayed interest and credit-note formulas. The interest formula changes according to the selected posting option.
6. Select Enforce Debit Note creation only if the company policy requires it. Click Save.
F. Save an A R Payment and Review Linked Documents
When an A/R Payment is saved, the plug-in evaluates the applicable credit term rules. It can create or update linked interest and discount documents and stores their reference details on the A/R Payment.
- Create or edit the A/R Payment using the normal AutoCount A/R workflow.
- Apply the payment to the relevant outstanding documents and confirm the payment date.
- Save the A/R Payment. If a document is required, complete the displayed Invoice for Interest, Debit Note for Interest, or Credit Note for Interest dialog with the document number, date, and reason.
- Review the generated linked document before finalising it. The default reason is Terms when no other reason has been entered.
- Reopen the A/R Payment and review the linked document number, date, and reason stored in its userdefined fields.
G. Correct Exceptional Records
Swipe Void Record is a technical repair option intended only for exceptional record-not-found cases. It is not part of ordinary credit-term processing.
- Confirm that the issue requires the repair option and take a database backup before continuing.
- Open Advanced Credit Term > Swipe Void Record.
- Review the warning and click Confirm only after verifying the intended correction.
- Click Cancel to leave the record unchanged when there is any doubt.
- Reopen the affected A/R Payment and linked document to confirm the result.
Frequently Asked Questions
What does the Advanced Credit Term Plugin do?
It automates prompt-payment discounts for early settlements and calculates late-payment interest charges on overdue invoices according to configured credit terms.
Why should I use the Advanced Credit Term Plugin?
It encourages faster customer payments, automates penalty and incentive calculations without manual arithmetic, and posts corresponding accounting entries directly into AutoCount.
How do I set up prompt payment discounts?
Open AdvancedCreditTerm > Credit Term, select the credit term, click Discount, and click Add to specify the Within Days threshold and Discount Rate percentage.
How do I configure late interest charges?
Open AdvancedCreditTerm > Credit Term, select the credit term, click Interest, and click Add to set the overdue day threshold (No of Days >=) and applicable Interest Rate.
How are discount and interest documents generated?
When an A/R Payment is saved, the plugin evaluates the credit term rules and prompts you to generate linked A/R Debit Notes or Sales Invoices for interest, or Credit Notes for discounts, using settings defined under AdvancedCreditTerm > Setting.
What is the Swipe Void Record option used for?
It is a technical maintenance utility under AdvancedCreditTerm > Swipe Void Record designed to clear orphan or exceptional record-not-found entries, and requires a full database backup before running.
Start Optimizing Your Credit Terms Today!
This plugin enables us to automate tiered prompt-payment discounts and late-payment interest charges, aligning credit terms directly with customer settlement behavior. We can efficiently generate linked debit notes, invoices, and credit notes during payment processing, eliminate manual penalty calculations, and maintain full control over financial policies through role-based access control.