Credit limits for customers & suppliers

Can we have options for setting up credit limits to both, Customers (when providing credit to) AND supplier (when buying from), and also Credit for Sales and Credit for purchasing in entirety to ensure risk levels are being maintained.

Think its something worth adding?

It could be added as an optional field to customer/supplier forms, then you could easily see on customer/supplier tab available credit. It’s fairly simple feature, I might do it one of these days. The same can be implemented for bank accounts since bank overdraft facility or credit cards are common too. Thanks for suggestion.


When can we expect this option?

Added to the latest version (15.3.80)

Is it extended to banking account as well … I could not find it…

couldn’t find it under banking too, am sure it will be ready soon

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I’m curious, @edward_dileep, what you are referring to when you ask whether a credit limit on buying or selling could be extended to a bank account?

I was referring to having a similar credit limit for the over draft account… the bank gives a facility to operate to a certain negative limit,
Having this limit set, will help us in issuing the cheques, so that we don’t overshoot it

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The latest version (15.4.48) allows to set Credit limit on bank accounts too. If you do it, new column Available balance will appear under Bank accounts tab.

Being naive here and correct me if it is wrong. Over Draft from banks are liabilities and also attract interests, So just wondering where do I record the liability and interest transactions.

If you pay interest bank, you should create an expense account called Interest paid in your Chart of Accounts. Then simply categorize expense transaction in your bank account to this account.