Apply a Credit to an Alternative Invoice

[finnimac]

Hello,

We have a client who has 3 entities that we invoice separately.  He has set up a recurring, fortnightly payment to us to cover his bases for future invoices.

These payments have all been credited to one entity (which no longer has any outstanding invoices) - is there any way of applying these credits to one of his other entities, that does have outstanding invoices?

Any help or advice will be appreciated!

Thank you,

Fiona

[Steven_M · Accepted solution]

Hi @finnimac 

The way I would deal with that situation would be outlined below:

For this process, you want to create a holding banking account set up. If you don't already have one set up you can create one via Accounts>>Accounts List>>New. You would need to give the account a number, name and set the account type to be Bank.

1. Navigate to Sales>>Sales Register>>Return and credits.
2. Highlight the required credit note.
3. Select Pay Refund.
4. Within the Settle Returns & Credits, update the Account to be the newly created holding account.
5. Record the refund transaction.
6. If the credit is going to be applied to an invoice now:
   
   1. Go to Sales>>Recieve Payments
   2. Select the appropriate customer
   3. Select the Deposit to Account to be that newly created holding account
   4. Enter the payment transaction as per normal for that customer
7. If the credit is going to be applied at a later stage
   1. Create a new 0.00 invoice for that customer - Sales>>Enter Sales>>Select the Customer -- Record. 
   2. Go to Sales>>Recieve Payments
   3. Select the Deposit to Account to be that newly created holding account
   4. Select the appropriate customer
   5. Select Include Closed Sales
   6. Apply the payment to that closed invoice. This will generate a credit note listed in the Sales Registers>>Returns & Credits to which can be applied to an invoice or a refund paid at a later stage.

[finnimac]

Thank you, Steven.  I will see how that goes.

Really appreciate your response! Fiona

[finnimac]

Thank you, Steven!

That was exactly the information I needed!