Control how Credits are applied

3 years ago in Transactions/Financials • updated by 19 hours ago • 9 • 4 duplicates

Currently, credits (Balance Adjustments) have two issues: there's no way to clarify Revenue Category, and they get auto-applied to the oldest outstanding fees (mostly though it's not clear what the logic is) even if there's no correlation between the fee(s) and the credit. This complicates Invoices and statements when events are missing that were previously unpaid, but other (newer) fees remain even if the credit was intended to remove them. The system should 1) default Credits to remain on balance unless the user 2) chooses to "Apply to oldest" or 3) assigns the credit to specified fees. In all cases, Credits should include a Revenue Category so accounting properly recognizes revenue and adjustments.

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Duplicates 4

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Accepted for Future Development

3 years ago

Applying Credits to revenue categories is essential for correct Accounts receivable management. If in July I charge for an event to an "Event" revenue category and then in August I offer a credit for some reason I want to be be able to apply manual credit (for an unpaid item) or a partial refund (for a paid item) but in both cases have a transaction date in August with a revenue category of the "Event" This will make my accounts receivable correct for July no matter when I run it as the credit transaction will be in August and for the correct revenue category.

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3 years ago

11 months ago

Please give club owners the option to apply club credits to new fees rather than automatically applying them. I believe our members have this option when they book, so it should be easy to add to the Admin Panel. This suggestion seems to have been made 2-3 years ago (and it says "Accepted" so please make this adjustment. Your current auto-apply feature creates way too much unnecessary accounting work. Thank you.