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Credit Adjustments

A credit adjustment reduces the customer’s invoice balance but does not cause a payment gateway transaction or return any funds to the customer. Credit adjustment application must equal the total amount of the credit adjustment.

How Do You Access Credit Adjustments?

You can create a credit adjustment through the Account Action menu of an open billing account. For instructions on searching for and opening a customer's billing account, refer to Search. To view credit adjustments that you've already created, click the Adjustments tab in an open account.

What Happens When You Create a Credit Adjustment?

When you create and process a credit adjustment, TRACT lowers the amount owed by the billing account. The credit adjustment appears in the customer's next invoice, and TRACT creates corresponding general ledger transactions.

You can apply a credit adjustment to one or more invoices immediately or manually post it and apply it at a later time. Before you post a credit adjustment, you can edit or delete it. Once a credit adjustment is posted, you can reverse it but not delete or edit it. If you need to make changes to a posted credit adjustment, you can reverse a posted credit adjustment that you have applied to an invoice as well as a posted credit adjustment that you haven't yet applied.

Creating a Credit Adjustment

To make a credit adjustment on an account, do the following:

  1. From the Account Action menu, select Create Credit Adjustment.

Create credit adjustment

  1. In the Create Credit Adjustment window that appears, enter the requested credit adjustment information. Fields marked with an asterisk (*) are required.

  1. In the Adjustment Application section, select an invoice to which you want to apply the adjustment. The credit adjustment will be automatically be posted and then applied to that invoice.
  2. Note: If you don't select an invoice, the credit adjustment will be left pending and you can post and apply it manually at a later time.

  3. When you have entered all the information, click Create Adjustment or click Create Another to create the adjustment and open another Create Credit Adjustment window.
    The adjustment is added to the Account Adjustments panel and will be calculated into the next billing cycle for this account.

Editing a Credit Adjustment

If a credit adjustment was created incorrectly, you can edit the credit adjustment before it's posted and when its status is Pending. If the credit adjustment is already posted, see Reversing a Posted Credit Adjustment or Reversing a Posted and Unapplied Credit Adjustment for more information.

To edit a credit adjustment, do the following:

  1. In the Credit Adjustments panel, find the adjustment you want to edit and click the (ellipsis) in the Actions column.
  2. In the Actions menu that appears, select Edit.
  3. Edit credit adjustment

  4. In the Update Credit Adjustment window that appears, update the adjustment information.
  5. Click Update Adjustment.

Deleting a Credit Adjustment

If a credit adjustment was created incorrectly or for the wrong customer, you can delete the credit adjustment before it's posted and when its status is Pending. If the credit adjustment is already posted, see Reversing a Posted Credit Adjustment or Reversing a Posted and Unapplied Credit Adjustment for more information.

To delete a credit adjustment, do the following:

  1. In the Credit Adjustments panel, find the adjustment you want to delete and click the (ellipsis) in the Actions column.
  1. In the Actions menu that appears, select Delete.

  1. In the confirmation window that appears, click Yes. The confirmation window closes and the credit adjustment is removed from the Credit Adjustments panel.

Posting a Credit Adjustment

If you didn't select an invoice when creating a credit adjustment, the credit adjustment is pending and not yet posted. You can post a credit adjustment manually.

To post a credit adjustment, do the following:

  1. In the Credit Adjustments panel, find the adjustment you want to post and click the (ellipsis) in the Actions column.
  1. In the Actions menu, select Post.

  1. In the confirmation window that appears, click Yes.
    The Credit Adjustment is posted immediately. After the adjustment is posted, you can manually apply the adjustment to an open invoice. See Applying a Credit Adjustment for more information.

Reversing a Posted Credit Adjustment

If a credit adjustment was made in error, you can reverse it after it's been posted and applied to an invoice.

Note: If you choose to manually post and apply a credit adjustment, you can edit or delete it before posting. See Editing a Credit Adjustment or Deleting a Credit Adjustment for more information.

To reverse a credit adjustment, do the following:

  1. In the Credit Adjustments panel, find the adjustment you want to reverse and click the (ellipsis) in the Actions column.
  2. In the Actions menu that appears, select Reverse.
  3. Reverse credit adjustment

  4. In the confirmation window that appears, enter the requested information and click Yes.

Reversing a Posted and Unapplied Credit Adjustment

If a credit adjustment was made in error, you can reverse it after it's been manually posted and before it has been applied to an invoice. You can't edit or delete a credit adjustment after posting it.

Note: If you choose to manually post and apply a credit adjustment, you can edit or delete it before posting. See Editing a Credit Adjustment or Deleting a Credit Adjustment for more information.

To reverse a credit adjustment, do the following:

  1. In the Credit Adjustments panel, find the adjustment you want to reverse and click the (ellipsis) in the Actions column.
  2. In the Actions menu that appears, select Reverse Unapplied.
  3. Reverse unapplied credit adjustment

  4. In the confirmation window that appears, enter the requested information and click Yes.

Applying a Credit Adjustment

If you did not already apply a credit adjustment to an open invoice when creating a credit adjustment, you can manually apply it after it's posted. This is known as an adjustment application. You can't edit or delete a credit adjustment after posting it.

To apply a credit adjustment, do the following:

  1. In the Credit Adjustments panel, find the adjustment you want to apply and click the (ellipsis) in the Actions column.
  2. In the Actions menu that appears, select Adjustment Application.
  3. Adjustment application

  4. In the Adjustment Application window that appears, select an invoice to which you want to apply the credit adjustment. Click Apply.
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