Create Credit Adjustment

You can create a credit adjustment to apply credit to a billing account’s open invoices. During the creation process you can either apply the credit adjustment to one or more invoices or apply it later.

After you create a credit adjustment, a pop-up message will display with a link to post it.

Post Adjustment Pop-up Window

If you do not post the credit adjustment from this pop-up message, you can post it from either the Adjustments or the Credit Adjustment Details windows. Refer to Post Credit Adjustment for more information.

You can delete a Pending credit adjustment (refer to Delete Pending Credit Adjustment). If you need to make changes to a credit adjustment, you can reverse the amount applied to an invoice or the unapplied amount.

Complete the following steps to create a credit adjustment:

1. Select Customer Billing from the Gotransverse application menu .

   

   Customers Window

   You may see a Customers and an Accounts tab or just the Accounts window, depending on the value for the Allow Multi-Customer Accounts Billing system setting. The Allow Multi-Customer Accounts system setting must be set to True to see both tabs. If this system setting is set to False, you will only see the Accounts window while in the Customers module. Refer to System Settings for more information about configuring system settings.

2. Select a customer from the list or search for a customer from the Search field to open the Customer Summary window.

   To quickly access a customer or billing account, click the icon on the title bar (on either the Customers or Accounts window) and enter part of the customer or billing account name. If you do not see the Accounts tab, you can still search for a billing account from the Customers window by entering part of the number in the Search field. You can also bookmark regularly-used pages. Refer to Search Feature for more information.

   

   Customer Summary Window

   Click the icon in the left pane to hide it. Click the icon to open it.

   You can manage which columns display in any table with a Configure or Columns button by clicking the button and selecting desired columns. In addition. If the table includes a Filter button, you can filter the table contents. If the table includes an Export button, you can export visible table contents (up to 50) to a CSV (comma-separated values) file. Refer to Data Tables for more information about using these features.

3. On the Customer Summary window, complete one of the following actions:

   1. For the account you wish to create a credit adjustment, click the ellipsis icon in the Actions column and select Create Credit Adjustment to open the Create Credit Adjustment window.

      

      Create Credit Adjustment Option

   2. OR, select an account under the Accounts tab to open the Account Details window. Select Create Credit Adjustment from the Account drop-down menu to open a Create Credit Adjustment window.

      

      Create a Credit Adjustment Option

4. On the Create Credit Adjustment window, complete the required and relevant fields.

   

   Create Credit Adjustment Fields

   Required fields are marked with an asterisk.

   • Adjustment Information:

     • Reason*: Select the reason for creating a credit adjustment.

     • Amount*: Enter the amount of the credit adjustment.

     • Effective Date*: Enter the date when the credit adjustment should begin.

     • Expiration Date: Enter the date when the credit adjustment should expire. Expiration Date must be greater than the Effective Date.

     • Write-off Expired Adjustment checkbox: Select the checkbox to write-off the credit adjustment after it expires. The checkbox is enabled once you enter the Expiration Date.

     • Description: Enter the additional information about the credit adjustment.

     • Manually Apply to Invoice checkbox: Select the checkbox to indicate that the credit adjustment should be manually allocated to an open invoice.

       • If there are open invoices on the billing account, selecting the checkbox displays the list of invoices. You can select to allocate an adjustment amount to the desired invoices immediately. In the Adjustment Amount field, you can modify the amount that you want to apply to each invoice.

       • If you select this checkbox, but do not want to allocate the adjustment to an invoice now, you can apply it later (refer to Apply Credit Adjustment) after you post the adjustment (refer to Post Credit Adjustment).

       • Clear the checkbox to automatically apply the adjustment to the oldest open invoice on the billing account after the adjustment is posted.

         • If the adjustment amount is larger than the oldest invoice, it allocates to the next open invoices starting from the oldest to the newest.

         • If the amount of the credit adjustment is larger than all open invoices on the billing account, the remaining credit adjustment amount displays as Unapplied Amount on the Credit Adjustment window (refer to View Credit Adjustment Information). After new invoices are generated, this remaining amount allocates to them automatically.

       You can select or clear this checkbox when editing a credit adjustment, even after posting it.

   • Adjustment Application:

     • Invoice: Select the checkbox next to the invoice to which you want to apply the credit adjustment.

     • Adjustment Amount: Enter the amount of the credit adjustment that you want to apply to each invoice. The Adjustment Amount field auto-populates depending on the amount of the credit adjustment and number of invoices. You can modify these values as needed:

       • If the amount of the credit adjustment is greater than total open invoice amount, invoice amounts auto-populate in the Adjustment Amount fields. The remaining credit adjustment amount displays as the Unallocated Adjustment Total value.

       • If the amount of the credit adjustment is less than the total invoice amount, the total amount of the credit adjustment auto-populates next to the oldest open invoice in the Adjustment Amount field.

5. To save your changes, click Create Adjustment.

   After you create a credit adjustment, a pop-up message will display with a link to post it. Click the Post active link to post the credit adjustment.

   

   Post Adjustment Pop-up Window

   You can also select Create Another and then click Create Adjustment to save the current credit adjustment and open the window for creating a new one.

 

 

 

Topic updated: 01/2024.