Credit Records in Receivables

To open a credit record, select it in the list of credits from Receivables, Credits. The Overview, Distributions, and Applications tabs display for you to view and edit additional info. You can also delete the credit and reverse it if necessary.

Note: The ability to work with credits is in Limited Availability (LA) for some of our customers. Look for full support in a future release, including refunds, distributions, and applications.

Tip: You can't edit a credit with applications.

• Apply credit — To apply the credit to the client's outstanding charge or line item, select Apply credit. Next, select the checkbox in the row you're applying and enter the amount under Applied amount. Save your changes.

  To automatically apply the credit to the charge or line item in the first row, select Apply automatically. If the amount exceeds the charge or line item amount, the credit is deducted from subsequent rows until the balance is $0.

  Note: Don't see this yet? Applications is in Limited Availability (LA) for some of our customers. Look for full support and general availability in a future release.

  Note: In a future release, you'll be able to add applications for third-party billing.

• Unapply all — To remove the credit from a charge or invoice, select Unapply all. On the Applications tab, the transactions are removed and the Overview tab displays the updated applied amount and balance.

  Tip: Unapply all only displays when the credit has been applied to a charge or invoice.

• Delete — Delete a credit when it was added inadvertently or no longer needed.

  • Unposted credit — To delete a credit you no longer need, select Delete. The credit is removed and no longer associated with the client.

  • Posted credit — To reverse (or refund) a posted credit, select Delete. After confirming, enter a reversal date for the journal entry that automatically generates the next time you post. To complete the changes, select Save.

  If a credit has unposted adjustments, you must post them first before deleting.

• Adjust — To adjust a posted credit, select Adjust. Enter the adjustment details, including the new date and reason, then save.

  Tip: Make an adjustment to a credit when you need to offset an incorrect post and add a new one with new distributions. If the credit hasn't posted, select Edit to instead make changes to the credit record.

  When adjusting a credit:

  • You must have applicable permissions.

  • The credit's status must be Posted.

  • You can only make an adjustment when all other adjustments have posted for the credit.

  • You can delete an adjustment if it hasn't posted.

  • You can't adjust a credit with a Sales tax billing item.

  • You can't adjust a credit with an application. You must remove the applications, adjust the credit, and then apply applications again.

• Overview — Review info about the credit's balance, date, notes, and who last changed the credit. You can also add custom fields for the credit. For more details, see Custom Fields.

• Distributions — Distributions determine the amounts to allocate to accounts and projects for the credit. For details about distributions, see Credit Distributions and Distributions.

• Applications — Review applications to confirm the charges and line items for the credit, as well as unapplied balances. To open the charge, select it under Transaction.