Billing Accounts

Billing Account in CREST ERP is a Payment Method. It is also a means to control credit offered to Customers as well as offered by Suppliers, apart from being a simple Payment Method. A Billing Account can be specific to one party or can be shared across multiple parties.

A Billing Account can be used to consolidate several invoices into one account. In the case of a large account with decentralized operations, while orders can be placed by decentralized offices, payment can be centralized at the Head Office using the Billing Account concept.

Billing Accounts are set up under Global GL Settings > Billing Accounts. To add a new Billing Account for a party, click Create Billing Account on the home screen for Billing Accounts

If a Credit Limit is to be set for the Billing Account, enter the same (optional). Give it a meaningful description so that the right Billing Account can be selected during order entry. Look up the party and enter a From – To date for the Billing Account. Clicking Add will create the Billing Account.

Once a Billing Account is created, additional tabs are enabled for the account. The Party Roles tab lets you associate multiple parties with specific roles to the account. The Party Terms tab lets you six different types of payment terms for the account. The Invoices, Payments and Orders tabs list respective transactions for the Billing Account

All Billing Accounts are listed when you click Search on the Billing Accounts home screen.

This is how Billing Accounts for a party will be shown during order entry

Billing Accounts for a Party are listed on the Party Master, under the Payment Method stub

You can also add new Billing Accounts from here itself.

Click the Expire link to cancel and close a Billing Account. It will no longer be available for further transactions.