Credit sales are common in African pharmacies, especially for regular customers and corporate accounts. Managing credit effectively is essential for cash flow and profitability.
Credit Sales Challenges
- Tracking who owes what
- Setting appropriate credit limits
- Following up on overdue accounts
- Managing corporate accounts
- Cash flow impact
PharmaPOS Credit Features
1. Customer Accounts
- Individual customer profiles
- Credit limit setting
- Balance tracking
- Transaction history
- Contact information
2. Credit Sale Processing
- Credit balance check at sale
- Credit limit enforcement
- Manager override for exceptions
- Credit receipt printing
3. Payment Collection
- Receive payments against balance
- Partial payment handling
- Multiple payment methods
- Receipt generation
4. Reporting
- Outstanding balances report
- Aging analysis
- Customer statement
- Collection tracking
Best Practices
- Set realistic credit limits
- Review limits regularly
- Follow up promptly
- Send regular statements
- Limit credit to known customers
Benefits
- Better cash flow visibility
- Reduced bad debts
- Improved customer relationships
- Easier collections
- Professional account management
Conclusion
Effective credit management is crucial for pharmacy profitability. PharmaPOS provides comprehensive credit sales tools. Contact MedSoftwares to learn more.
