Open credits can be applied to future dues billing amounts. In this case, the credit is retained in the Billing system and is used to automatically offset overpayments against newly billed items on the next renewal billing. The overpayment will only be used against the main dues product (the product that is listed first on the Set up customer types window).
This automatic offset method can be used only in conjunction with a dues product billing cycle. To do this, a product code of AVAIL_CREDIT must be defined on the Set up product codes window.
Note: Any residual credit balance in AVAIL_CREDIT is offset against billing amounts billed automatically during the next dues renewal billing for the customer. Also, the appropriate accounting entry is created to debit (reduce) the AVAIL_CREDIT GL account and credit (increase) the GL account for the offset dues line items (for example, deferred or unrecognized income).
Note: The AVAIL_CREDIT feature is currently not supported by accrual dues cycles. All accrual dues cycles will operate as if the Don't Apply Credits option on the Process billing window is enabled.
Use the following steps to add the AVAIL_CREDIT product code:
Caution! Do not enter the account number of the account that will hold the credit in the Deferred Account field.
10.5 Production Release. Updated 2/23/2006 2:26:52 PM
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