A Credit Amount can occur when a customer pays more than the balance of their outstanding invoices, or pays a deposit for an invoice that has not yet been prepared.
When applying a receipt for more than the total of the invoice, the surplus is saved as a Credit. This can also happen when assigning an Adjustment Credit Note to an invoice for greater than the amount owing. The surplus is added to the customer’s Credit Amount.
To refund a credit balance or apply it to an invoice, click on the [Apply Credit Amounts] button on the Customer List page.
Change the ‘Credit date’ as necessary.
1.To apply the credit balance to an invoice, click on the down arrow next to the Invoice Selected box to display a list of the customer's ‘Finalised’ invoices with outstanding balances. Select the required invoice.
The details of the invoice will appear and the Credit to Apply will pre-fill with the amount of credit remaining or the ‘Balance Outstanding’ on the invoice. Edit the amount if necessary. Click on the [Save] button.
2. To refund the credit, click on the [Refund] button rather than selecting an invoice.
To transfer the refund to Cashflow Manager:
Click on the [Transfer to Cashflow Manager] check-box.
Another field will appear to select the Cashflow Manager account in which to record the payment.
Click on [Continue].
Allocate the amount to the appropriate Allocation Column
Click on [Save]. Alternatively, a credit amount can be applied to an invoice at the time you create it.