Customer Terms

Setting Payment Terms for Customers in Loom

1. Accessing Customer Account Information

   • Click on the specific customer contact.

   • Navigate to the account information section.

2. Setting Payment Terms

   • Locate the payment terms section within the account information.

   • Set the specific payment terms for the customer.

   • Define the interest rate and penalty terms.

3. Example Scenario

   • Illustration: Charging 3% interest every 30 days.

   • Managing credit limits based on customer requests and approvals.

   • Example: Customer requested $30,000, approved for $15,000.

4. Implementation and Management

   • Apply the set terms consistently for the customer.

   • Monitor and adjust terms as necessary based on customer interactions.

   • Ensure clear communication with customers regarding payment terms..