Getting Started with Credit Charges

In order to create a credit charge, you must first define the credit charging settings in your Mamut program.

How to get started with credit charges

Go to View - Settings - Accounting and select the Customer & Supplier Ledger tab.
Select the option Company sends credit charges to customers who do not pay by the due date.
Click the Settings button to the right of the check box in order to define the credit charging settings. More information can be found here.
Select credit charging for the relevant customers. This can be done on the customer's contact card, on the Settings tab. You can choose between the options Always or Only if exceeding 30 days from the drop-down list Credit Charges. The option Only if exceeding 30 days means that a credit charge will only be generated if an invoice is paid more than 30 days past the due date.

If you do not wish to credit charge the customer, select No credit charging from the list.

Tip! You can implement the changes for all customers in one single operation by using the wizard Change Values for a Selection of Contacts. Read more about the wizard here.
Select a default setting for credit charging of new customers by clicking View - Settings - Company - Settings per Module - Contact Management. You can choose between the options Always, No credit charging or Only if exceeding 30 days from the drop-down list Credit Charges.

The system is now set up for credit charges.

Tip! If you want to define a different account for interest income than the one the system automatically suggests, go to View - Settings - Accounting - Accounting Settings - Control accounts. Select Customer & Supplier Ledger from the drop-down list and select the appropriate account to the left of Account for credit charges (late payments). However, we recommend that you use the default account.