Accounts Receivable > Open Credits

The Adjust Open Credit function allows you to record a refund for your customer’s excess payments, returned items or advance payments. You have the option to refund the open credit by check or by cash/credit card. To refund by check, you need to post an AP invoice and print the refund check using the Print AP Check or the Record Check Payment function in the Accounts Payable module.

This function also allows you to write-off the open credits which your customers opt not to be applied to their outstanding invoices or to be paid as a refund.

To refund an open credit, perform the following steps:

1.Access the Adjust Open Credit function from the Open Credit group under the Transactions menu in the Accounts Receivable module.

2.In the Customer # field, enter the number of the customer for whom you want to post the refund. Alternatively, you may click the Lookup button to display in a list available customer numbers; then, double-click on a customer number to select. When you enter a valid customer number, the customer's name, open credit balance and details of the open credit amounts making up the balance are displayed in the corresponding fields, for your reference.

3.Select the refund type you want whether you want to refund the customer by cash/credit card, by check or write off the open credit amount. Select the Check Refund option if you want to issue a check in the AP module for the refund.

4.In the Adjustment Date field, enter the date when you want to post the open credit refund/write-off. The default date is the current system date; however, you may change this date to reflect the desired effective date of the transaction.

5.Enter values in the following fields, if applicable:

oPay Code

This field is enabled if you select to refund open credit by cash/credit card. Enter in this field a valid pay code that signifies how you want to give the refund. This field accepts pay codes with cash or credit card pay types.

oBank #

This field is enabled if you select to refund open credit by cash/credit card. Enter in this field the bank code of the bank account where the refund will be taken from.

oCredit Card #

Enter in this field the credit card number that you will use to credit the refund. This field is enabled if you select to refund open credit by cash/credit card and you entered a credit card pay code in the Pay Code field.

Note: You can view the complete credit card number provided that you are granted the access right; otherwise, only the last four digits will be shown and the rest of the credit card number will be encrypted.

6.Enter in the Adjust Amount field the open credit amount you want to refund or write off. The amount entered in this field serves as a control amount in the total open credit amount to refund or write-off. Alternatively, you may leave this field blank and it will show the total adjust amount as you enter values under the Adjust Amount column in the Open Credit Details grid.

7.In the Reference field, enter any information which is relevant to the open credit adjustment transaction.

8.Review the information displayed in the Open Credit Details grid. Enter the amount of open credit you want to be refunded or written off in the Adjust Amount column.

Alternatively, you may click the Apply All button in the grid toolbar to automatically enter in the Adjust Amount column the values shown under the Open Credit column for all open credit transactions displayed in the Open Credit Details grid. On the other hand, you may click the Unapply All button to clear all the values in the Adjust Amount column.

You may also select certain transactions from the grid and click the Apply Selected button in the grid toolbar to automatically enter in the Adjust Amount the values shown under the Open Credit column only for those selected transactions. On the other hand, you may click the Unapply Selected button to clear the values in the Adjust Amount column of the affected transactions.

Note: The value shown in the Adjust Amount field must be equal to the total of the amounts entered in the Adjust Amount column; otherwise, an error message appears and the transaction can not proceed.

9.When you are ready, click the Save button in the function toolbar to complete the open credit adjustment transaction. The Adjust Open Credit save confirmation window will display showing the Adjustment transaction number. When you save your entries, the refund will immediately be applied against the open credit transaction you selected and the total open credit balance of the customer will be reduced by the refund amount.

10.You may also perform the following in the Adjust Open Credit save confirmation window:

oPreview

Click this button if you want to view the Open Credit Adjustment Report before you print it. You may also access the Open Credit Adjustment Report function to preview the report.

oPrint

Click this button if you want to print the Open Credit Adjustment Report. You may also print the report using the Open Credit Adjustment Report function.

oPost AP

Click this button to directly access the AP Invoice Transaction function where you can create an AP invoice for the check refund. This button is enabled only if you selected the Check Refund option in the adjustment Type.

oNew

Click the New button to create another open credit adjustment transaction.

oClose

This is the X button in the upper right corner of the save confirmation window. Click this button to close the save window.

Note: The Preview, Print and New buttons are enabled only if the user has the necessary access rights to these functions. To manage user access rights, use the Groups access rights function in the System Administrator module.

Adjust Open Credit

Adjust Open Credit

See Also