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Having trouble applying credits to invoices and tracking them using the Credit Ledger? This tutorial can help you!
Now you can add credits on invoices and use the Credit Ledger feature to track them. The credits applied are automatically stored in the credit ledger, as well as when the credit is applied to an invoice.
Creating a Credit Ledger for a child
If it’s the first credit that you ever add for this child, you need to create a credit ledger for them by following the steps below:
- Inside the Billing section, click on ‘Credit Ledger’ located at the top bar.
- Click on the green button “New Credit Ledger”
- Select the child that you would like to create a ledger for. You will also be able to enter the credit amount, type, and a note.
- Click on ‘Add credit’ to save.
Adding credit to ledger
Once you have the Credit Ledger for the child, you can click on ‘Add Credit’ in the main ‘Credit Ledger’ page if you’d like to add more. You can also click on the child’s name and then ‘+ Add Credit’.
Please keep in mind that you can only enter a positive dollar value to the ledger, the system won’t allow negative entries.
When adding credit, you can select the type being “overpay”, “other” or “subsidy”:
Overpay - Use this when you’ve received too much money from your parents. You can use the ‘Note’ field to write the payment method (cash, cheque, e-transfer, online payment).
Other - Use this to help you reduce the regular invoice by vacation days, sick days, or any other special deals that you provide your children. Some centers will never use this type. In that case ignore it.
Subsidy - Should be used in cases where you’d like to track the amount of subsidy that you’ve received for a particular child and will be applying to their invoices.
Applying the credit to an invoice
A credit can be applied to an invoice that is in ‘ready’, ‘open’, ‘sent’, ‘overdue’ or ‘partial’ paid status.
In order to apply a credit, you must first access the invoice by clicking on ‘View Invoice’. You’ll be able to see a green ‘Apply Credit’ button at the top of the invoice, indicating that there is a credit that can be applied to this particular invoice.
Keep in mind that you’ll only be able to apply the total amount of credit up to the balance of the invoice. This means if you’d only like to use part of the credit available towards the balance, it’s important that the amount that the parent would like to pay needs to be paid before applying the credit.
Example: The total amount of the invoice is $100. The parent paid $70 and the child has $80 of credit. Since the outstanding amount of the invoice is $30, the green button will allow and display only $30 of credit to be added to this particular invoice. A $50 of credit will remain in the child’s ledger.
Once a credit is used, the amount used is automatically registered on the credit ledger and the available amount of credit is reduced.
Editing or deleting a credit on the ledger
You’re only able to edit or delete credits that have been added recently and not applied to an invoice yet. Go to the child’s ledger and if the credit is coloured, you can click on the amount and edit or delete it.
If the credit was applied and is now greyed out, it is permanent and you cannot edit it.
Can I apply credits on invoices with Payment Processing?
Credits are not available with payment processing at this time. In this case, the center should collect the payment directly with the parents.