Defining the AVAIL_CREDIT product code

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 be used against all Dues items listed in the Customer Type table.

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:

  1. From Billing, select Set up module > Products. The Set up products window opens with a list of products displayed in the Current Products column.
  2. Click New.
  3. Enter a Product Type or select the lookup icon to select a value.
  4. Enter AVAIL_CREDIT in the Product Code field.
  5. Enter a descriptive Title for the billing product. This title will display on the customer's bill and on other windows.
  6. (optional) Enter a detailed description in the Description field.
  7. (Required for G/L interface) Enter the G/L Acct number of the account that will hold the credit until it is applied.

    8. Warning!  

    Do not enter the account number of the account that will hold the credit in the Deferred Account field.

  8. Click Save.