Settle Credit Invoices
Sometimes a client overpays. When this occurs, the Trial Balance Summary will show the credit. Settle these credits by applying it to another outstanding invoice, or refund it back to the client.
Accounting > Billings > Payments & Credits > Settle Credits
In this process you can settle credits to apply to an open invoice or to refund to the client.
The user must first select a client code to whom the credit will be applied. The screen will automatically try and locate any credit invoices for the given client.
Select the credit invoice from the select box labeled “Invoices with credit balance”.
Settle a credit against an outstanding invoice
If there are outstanding invoices that the credit can offset, these will appear in the table. The amount of the credit will automatically be applied to the oldest unpaid invoice(s). The user can change the allocation if required. Nominate “Apply to Invoice” then click “Save”.
A credit note will be recorded against the nominated invoice(s). Credit notes will not appear on future invoices but will appear on client statements.
Refunding a credit to the client
If you choose this option, the outstanding invoices shown on screen will become disabled as you will not be allocating the credit invoice to anything but instead remitting the funds back to the client.
Nominate “Refund Client”, then specify the amount of the refund and click “Save”.