Company-Level Credit Settings Available in B2B Edition

Settings for assigning credit are now available while editing Company details in the B2B Edition dashboard. 

This feature allows you to restrict purchases via purchase order when a Company exceeds their available credit, and put Companies on a credit hold to prevent users assigned to the Company account from placing orders until the hold is removed.

Why are we doing this?

Previously, B2B Edition users could enable or disable the Purchase Order (PO) payment method globally or on a Company-by-Company basis, but it was not natively possible to impose a maximum order value. This meant that Company users with access to the PO payment method could use it to place any order for asynchronous payment.

With credit settings, you can now set maximum available credit for each Company account in your store. This helps you manage risk by limiting the ability for buyers to purchase unless they have available credit. 

Additionally, you can enable a credit hold on Company accounts with outstanding or overdue invoices to prevent them from making further purchases until they’ve settled their balance.

Getting started with company credit

Company credit settings are available for B2B Edition users on the Buyer Portal and legacy storefront experiences. 

To activate this functionality in your store, go to Settings › General in the B2B Edition dashboard and check the box next to Enable company credit features.

Once enabled, navigate to the Companies area and view a Company’s details. In the Payment Methods tab, you can specify the value and currency of available credit for the Company, configure the PO payment method to be disabled when the value is exceeded, or manually place a credit hold on the Company. 

You can also manage Company credit in bulk via CSV import.

While credit settings allow you to establish a maximum value for PO payments, the available credit value entered for a Company does not decrease when users place purchase orders, nor does it increase when they pay outstanding invoices. Available credit must be adjusted manually.

The final word

To learn more about configuring credit on Company accounts, see our article on Companies in the Help Center. Enhance your Company management workflow with credit settings today!