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Credit

A credit is created when:

1. A paid invoice is canceled (for example., for a return)
2. When the payment amount is greater than the amount due (overpayment).
3. When an internal user Manually creates a credit.
4. When the organization offers a special credit to the customer.

Coupon

Coupons are treated as credits. Coupons may be set up for use with a particular product type, in which case, the coupon will display only for its associated product type in Centralized Order Entry (COE). When the automatically apply check box is selected, the coupon will be applied automatically when it's associated product type is selected in COE. However, unlike a credit, a coupon is non-refundable.

The five standard Group Item Links (Add, Find, List, Run Query, Query Central), are available in the Credit group item. Additional Group Item Links include Transfer Credits.

Credit Group Item

Adding Records

You can add Credit records from the following locations:

• Add Credit group item link
• The credits child form on the Individual or Organization Profile pages.

On the Individual and Organization Profiles pages, the credits child form is in the Other Actg tab (typically in the More tab menu). Click the Add Record button on the far right of the child form header to display the Credit Information window.

Adding a Credit

This is what is referred to as Manually Adding a Credit. Credits can also be automatically added when you void an invoice or payment.

Important! Adding a credit will charge the customer's account for the credit amount entered. Use this functionality primarily when you anticipate using this credit as a payment in the future.

To Manually Add a Credit:

1. Go to the Accounting module.
2. In the Credit group item, select the Add Credit group item link.
3. On the Add - Credit Information form, enter a customer (or search using the Look Up Button ).
4. Select a batch (required).
   1. When you select a batch, the credit date field will default to the date of the batch.
   2. If you want to put the credit in a new batch, click the Add Record button to add a new batch.
5. Select a currency (optional).
6. Enter the credit amount.
7. Edit the credit date if necessary.
8. Select a credit reason. If the reason is not available in the drop-down list, click the Add Record button to add a new credit reason.
9. If this is a coupon, select the coupon check box (See Adding a Coupon section below).
10. If the credit is for a refund, select a payment method.
    1. After selecting a payment method, the Payment Information section will populate with the required information for that particular payment method. For example, if you select check, the name on the check, check amount, and check number fields will display.
    2. Also, the cash/return drop-down list will populate with the default cash account that was set up in the Business Unit for that specific payment method.
11. In the bottom panel, select the proper G/L Accounts
    1. Select (or edit if necessary) the debit account from the cash/return drop-down list.
    2. Select a credit account from the liability/expense drop-down list.
12. Select a product type usage.
    1. If you select a product type usage AND select the required check box, that credit will ONLY be available for usage with that product type.
    2. If you select just a product type usage, it is suggested that the credit be used with that product type but not required.
13. Select use from and use through dates. If you select dates, the credit will only be available for use during that time frame.
14. Select a source code, media code (for information purposes only).
15. Enter a note explaining the credit, if applicable.
16. Click Save. When you add a manual credit, select a payment method of credit card or ACH, fill in electronic payment information, and save the credit, then netFORUM does the following:

• authorizes the payment information within netFORUM, then

• immediately performs a capture for a credit card or a sale for ACH through the gateway.

The information will display in the Credit Profile.

Adding a Credit

Note: If you add a credit from the Individual or Organization Profiles, the Add - Credit Information form displays in a window instead of the page, with the name of the Individual or Organization already populating the customer field.

Also, for accounting purposes, the debits must equal the credits for each transaction.

Adding a Coupon

To Add a Coupon:

1. Repeat Steps 1 - 7 from above.
2. Select the coupon check box.
3. Select (or add a new) credit reason.
4. Select a liability/expense account. When the coupon is used, it will debit and credit the selected account.
5. Select a product type usage.
   1. If you select a product type usage AND select the required check box, that coupon will ONLY be available for usage with that product type.
   2. If you select just a product type usage, it is suggested that the coupon be used with that product type but not required.
   3. To automatically apply the coupon to the associated product type when the product is selected in COE, select the automatically apply check box.
6. Select use from and use through dates. If you select dates, the credit will only be available for use during that time frame.
7. Select a source code, media code.
8. Enter a note explaining the credit, if applicable.
9. Click Save. The information will display in the Credit Profile.

Note: Coupons may not be refunded. When canceling a line item that used a coupon, the system will re-create the coupon and will carry over the previous G/L accounts; not the liability of the cancelled product.

Manually Creating a Coupon

To manually create a coupon, select the coupon check box when you are manually adding a credit. But unlike when adding a credit manually, a coupon will NOT perform an accounting transaction when created. Once a coupon is created, you can use it identically to a credit. When the coupon is applied toward a payment, it will debit the liability/expense accounts that were selected when adding the coupon.

When a coupon is used, the account associated with it (usually an expense account) is debited i.e. the coupon is treated as a payment method.

Finding Records

There are multiple ways to locate a record using the Find page (for detailed methods on how to locate records, see the Find page). The Find functionality is universal throughout netFORUM . The results will display in a List page, which is also universal throughout netFORUM .

The Credit information is stored in the database by the "columns" (fields) you selected during the Add Credit process. Only a pre-defined set of columns pertaining to Credit will be available to you on the Find - Credit page.

The more refined you make your search criteria, the narrower the result

A search for all records with a last name starting with a "T" will produce more results than a search of last names starting with "Tay".

A Multiple Criteria search

A search for all records with a last name starting with a "T" will produce more results than a search of last names starting with a "T" with a specific organization name.

Find vs. Query

The Find page is setup with a pre-defined set of columns (fields) versus a Query which allows you to select from ANY column in the search Table.

Navigating to the Credit Profile

To go to an Credit Profile:

1. Go to the Accounting module.
2. Click (or hover over) the Credit group item.
3. Select the Find Credit group item link. The Find - Credit page displays.
4. On the Find Credit page, enter search criteria to find the Credit Profile record and click Go. The List - Invoice page displays.
5. On the List - Credit Page, click the goto arrow to the left of the record you wish to view. The Credit Profile page displays.

In the example below, from the Advanced Find view, the search will be on all credits issued for all defective merchandise, on or after April 1, 2008.

Find - Credit page (Advanced View)

Credit Profile

Credit Profile Page

The Credit Profile shows credit details including customer name, credit reason, credit source, credit amount, credit date, batch, transaction code, and payment information. The system option DoNotSaveCreditCardInfo allows you to control whether credit card information will be saved or not for an individual.

Note: Credits are sometimes automatically created as a result of an individual attempting to register for an event that is already at maximum capacity. If the credit being viewed was created as the result of such an order, you can navigate to the related Event Profile from the Credit Profile. Navigate to the order child form in the Credit Profile–click the appropriate order to navigate to the related Event Profile.

Voiding a Credit

Only manually created credits can be voided from the Credit Profile. That is, credits created from a canceled invoice or payment cannot be voided. Also, return credits or credits that have already been used cannot be voided.

To Void a Credit:

1. Go to the Credit Profile.
2. Click the void credit icon in the Actions Bar. The Void Credit window displays.
3. In the Void Credit window, select a batch.
4. In the (Credit) Action drop-down list, select Void or Void with Adjustment. (See Accounting Notes Below).
5. Click Save.

Voiding a Credit

The information will display in the detail child form on the Credit Profile. Note that since the credit was voided, the transfer credit currency icon has been deactivated.

Completed Credit Void

Accounting Notes:

• When you close a batch that contains a voided credit, the batch total amount on the Batch Reconciliation Report will reflect the voided credit.
• If the credit batch has NOT been closed, Void is the only available option (other than No Action). If you are voiding a credit from a closed batch, the Void with Adjustment option will display instead of the Void option and you must add a new batch for an adjustment entry.

Refunding a Credit

netFORUM provides the ability to process a refund directly from the Credit Profile. Clicking the refund credit icon on the Actions Bar and seen below will bring up the Refund Credit window which is similar to manually searching for and processing a Refund.

The refund credit icon on the Actions Bar allows you to process a refund immediately from the Credit Profile.

The Refund Credit window will enable you to choose a refund type and batch. If the credit is still open, it will be refunded.

Transfer Credit Currency

The Transfer Credit Currency gives you the ability to transfer available credit to or from a home currency only.

All transactions are processed using a primary transaction currency (the currency selected for a particular transaction in which all monies will be applied) which could differ from the home currency of the Business Unit.

To Transfer a Credit to Another Currency:

1. Go to the Credit Profile.
2. Click the transfer credit currency icon icon in the Actions Bar. The Transfer Credit Currency window displays.
3. In the Transfer Credit Currency window, the credit to transfer field will default to the transaction code of the original transaction.
4. The original currency field will default to the currency entered in the original credit transaction.
5. Select a batch (required). If you want to put the transfer credit in a new batch, click the to add a new batch.
6. Select a convert to currency.
   • If the credit is already in the Home Currency, the drop-down list will include currencies supported by that Business Unit.
   • If the credit is a supported currency, the drop-down list will include the Home Currency only.
7. Select a refund account in which to apply the credit (this is typically put toward a "payables" account).
8. Click Save.
9. Once the process is complete, the transfer credit currency icon will become disabled.

Transfer Credit Currency

This information displays in the detail grandchild form on the Credit Profile.

Detail tab on the Credit Profile

Partial Credit Card Refund

This outlines how to create a credit and using a portion of that credit to pay an invoice with remaining balance being issued back to the customer.

Transferring Credit

This outlines how to transfer credit from one individual to another individual.

Printing a Credit Receipt

The ability to export and print a credit receipt has been added to the Reports drop-down menu on the Individual Profile, the Organization Profile, and the Credit Profile.

To view a credit receipt, complete the following steps:

1. Navigate to the Individual Profile, Organization Profile, or Credit Profile (the Individual Profile is used for the purposes of this example).
2. From the Reports drop-down menu, click the Credit Receipt hyperlink. The credit receipt details how the credit was created (manually or by the system such as when an invoice is canceled), the credit amount, and if it has been used.
3. Click the print icon to print a copy of this report. You may also click the Save icon to export a copy to your hard drive.