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https://help.tallysolutions.com/docs/te9rel51/Advanced_Features/Advanced_Accounting_Features/Significance_of_setting_Credit_Limits.htm

Significance of setting Credit Limits

The significance of setting credit limits is that during voucher entry (or invoicing), the credit terms are automatically defaulted based on the configuration made in the ledger master.

The current balance and the credit limit of the Ledger accounts are displayed in the Order and Invoice entry vouchers to ascertain the amount permitted or acceptable.