Hi,
We provide fuel card processing software, mainly to fuel card issuers / resellers and we use CRM and Business Central for the customer / card management piece and BC, obviously, for the invoicing and fiscal operation of the business.
The way fuel card resellers work is that they take on a customer, issue them with fuel cards, then invoice them, usually on a weekly basis, for their fuelcard usage. In our pricing engine as we process, enrich and price the daily transaction files from the card issuers, we assign those priced transactions, at a summary item level, to open invoices in Business Central. Usually weekly we then allow the customer to process an invoicing session which then processes and posts all the invoices, in that session, in BC.
The weekly spend for larger customers can typically be £25k + per week. Depending on payment terms then the credit extended can be a minimum of 8 days , if the customers terms are Invoice +0, and can be much longer. Credit management is therefore a big issue in this industry with the ability to verify a customers creditworthiness essential. This leads to some customers being offered credit terms but only with the guarantee of a security deposit.
We can't allocate the deposit to the customer account as we use auto allocation of payments to invoices. The majority of customer payments are also by DD so we need to be able to collect the invoice due amount. We would prefer not to create a separate bond only account for each customer as again that appears as part of the customer balances.
My question then is ... is there a simple system solution for this type of deposit ? Where it is easily visible against the customer account and does not get factored in to customer balances / Aged Debt etc ?
So for example ... Customer A pays a deposit of £5000. His first invoice is for £4,324.76. The DD should collect that to his terms irrelevent of him having £5000 of a security bond held.
thanks in advance for any help
