There are three ways to update your customer's credit limit. The way you do it will depend on your legal requirements to have your customer sign a new agreement at the new credit limit or payment term.
If you require a new contract, either the customer to request the new credit limit and/or payment term following these steps: https://support.pencilpay.com/knowledge/how-to-request-an-update-to-your-payment-terms-and-credit-limit
Or you can set the customer back to Draft and select the new credit limit and/or payment term (as this may require additional information) by following the below steps:
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Log in to Pencil.
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Go to Customers -> Search for your customer
3. Go to More Actions (...) -> Mark as Draft
4. After you Mark as Draft your customer, you then Go to More Actions (...) again -> Click on Edit -> Edit the credit form and change the payment terms accordingly, resubmit the credit application form and then re-approve it.
Alternatively, you can update the credit limit manually in your accounting/inventory/ERP system and you can leave the Pencil contract as it is.