Create a Line of Credit for an Organisation

For letters of credit, see Create a Letter of Credit for an Organisation.

Security Note: Depending on the line of credit type, you need the applicable security right in the Credit Management user group security rights group for this activity:

  • Allow the user to create bank guarantees
  • Allow the user to create credit accounts
  • Allow the user to create letters of awareness
  • Allow the user to create parent guarantees
  • Allow the user to create prepayments
  • After the line of credit is saved, you need the applicable Allow the user to edit [line of credit type] security right in the Credit Management user group security rights group.

Activity Steps

  1. Open the Organisation.
  2. Select the Credit Management tab.
  3. Right-click in the Lines of Credit table and select New » [Line Of Credit Type] from the menu.
  4. Update the Name as required.
  5. Select the Currency from the currencies defined in the Currency/Exchange Editor.
  6. Enter the Approved Credit.

    MineMarket updates the Available Credit.

  7. Complete the following fields.
    • Expiry Date—Date up to which despatch orders can use the line of credit. Except for letters of credit, multiple lines of credit of the same type must have different expiry dates.
    • Credit Accepted Status—Despatch order status to indicate that the credit has been accepted. Select from the statuses defined in the Despatch Order status definition. Only the statuses that have the Selectable property enabled display.
    • Credit Rejected Status—Despatch order status to indicate that the credit has been rejected. Select from the statuses defined in the Despatch Order status definition. Only the statuses that have the Selectable and Closed properties disabled display.
    • Credit Rate—Hierarchical credit rating for the organisation. Select from the Credit Rates list items defined in the List Editor.
    • Scope—Select from:
      • Sales (default)—The line of credit represents the credit available to the organisation, and is only applicable to sales contracts and despatch orders.
      • Purchase—The line of credit represents the credit available to a company that is purchasing from the organisation, and is only applicable to purchase contracts and despatch orders.
  8. Click Save.