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Options | Explanation |
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Credit | This is where you offer the customer credit for their deferment and will not be notifying them of payment collection using direct debit |
Direct Debit | This is similar to the credit option however this adds an additional notification onto the duty demand (which is created at Vision Bond day end operation) regarding the payment of the deferment by direct debit. |
Pre-Payment | configure a cash deferment for pre-payment, which results in all orders using the deferment being put on hold awaiting payment. The existing 'held order email’ has been updated to display the pre-payment required so users can generate this
Users can then take the order off hold once payment has been obtained. |
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Examples of
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Email and
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Attachment
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| Warning |
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In order to ensure the duties paid are correct and do not change once the order is picked, these types of orders will result in a ‘soft pick’ which will pre-allocate rotations to the order based on the existing FIFO calculations at the time the order is saved, therefore saving of orders for prepayment deferments is more resource-intensive and therefore slightly slower. |
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In general this service can be seen as a charge valid of sales tax (VAT) however some warehouses have argued that this is a financial credit agreement which is outside the scope of VAT. There is an option on the form to allow you to choose whichever method you wish to use.
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If you utilise the Vision Bond extract for finance system you must setup the nominal code on this form before you use this service charge feature. If you are only raising invoices for the service charge and manually posting them then there is no need. |
Optional Modules
Optional Finance extract is available - this is not a standard module
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What to do if a customer runs out of credit on HMRC and wants to use a cash deferment?
Setup a Cash Deferment for that Customer marking the Stock holding accounts which will use it.
On the customer record, change the customer default account to the cash account WHEN YOU NEED TO CHANGE TO CASH DEFERMENT.
Return it back to the HMRC number whenever you finish using it.
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