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Customer Credits Overview
In MYOB Accounting Plus, a customer credit is a transaction that indicates you owe money to a customer. You can create a customer credit in several ways.
You can choose from two ways of settling a customer credit:
Customer credits can be created in several ways. Refer to the topics given below for each of the techniques you can use for creating a customer credit. If none of the other procedures is appropriate, use the procedure To create a customer credit for no specific reason.
Accounting Plus allows you apply a customer credit to one or more of the customer’s sales balances or issue a refund check to the customer. You can perform these functions by clicking the Settle Returns & Credits button in the Sales Command Center. The Returns & Credits view of the Sales Register will be displayed.
You can also apply a customer credit or write a refund check using the Customer Payments window. If you’re entering a customer payment and Accounting Plus detects that this customer has an outstanding credit, an alert message will appear. You’ll have the opportunity to either automatically apply the entire amount to an open invoice or open the Sales Register to select the invoices and orders to which you’d like to apply the credit or write a refund check. You can also exit the window and leave the amount as a customer credit.
Click below for the step-by-step procedures:
To apply a customer credit (from the Sales Register)
To apply a customer credit (from the Customer Payments window)
To write a refund check (from the Sales Register)
To write a refund check (from the Customer Payments window))
There may be times when you want to view a customer credit before or after you’ve applied it or written a refund check for it. Accounting Plus allows you to easily find the customer credits you’ve entered into the system.
There may be times when you simply want to remove or reverse (“unapply”) a customer credit that you mistakenly applied to a sale, or when you want to remove a refund check you wrote to a customer. When this is the case, you can quickly remove the effects of such a transaction from your records. An important point to consider is if the customer credit is changeable or unchangeable. If the credit is changeable, you can make changes or remove the credit altogether from your ledger.
Unchangeable transactions work differently. By reversing an unchangeable customer credit, the effects of the original will no longer be part of your ledger; however, a record of the reversed customer credit, called a reversing transaction, will remain. Then, if you want, you can enter a new, correct transaction to replace the transaction you reversed. See What are changeable and unchangeable transactions? for more information.
If you notice a problem with a customer credit you’ve already settled, be aware that you can’t simply change the credit. You’ll need to unapply the credit or remove (or reverse) the refund check first then re-apply the credit or write a new check.
Click below for the step-by-step procedures:
To find a customer credit before it’s settled
To find a customer credit after it’s applied
To find a customer credit after you’ve written a refund check for it
To remove an applied customer credit or a customer’s refund check
If you no longer expect payments from a delinquent customer, you can apply a bad debt credit to the customer’s open sales to close the customer’s account.
Click below for the step-by-step procedure:
Keyword: credit invoices
Customer Credits Overview