Credit Matching is the process of matching a payment (credit) against an invoice. In most cases the system credit matches transactions when you are making payments against invoices (both Debtors and Creditors), however on some occasions manual credit matching or un-matching may be required.
TABLE OF CONTENTS
- Some examples:
- How to Credit Match?
- Reversing a credit matched transaction
- Fixing a payment matched against the wrong invoice. Un-matching the incorrect transaction and rematching to the correct one
- Matching a customer’s online payment to an invoice
- Matching future dated invoices once the system has been rolled
- A customer paying off their account in instalments
You can print a Unmatched Credits List from Reports for both Debtors or Creditors This report will give you a list of all Credits (negative Balance Transactions) that require Credit Matching
How to Credit Match?
In both Debtors and Creditors Highlight account to credit match.
In the example we will match the receipt and invoice valued at $667.03
Click the Credit Match button
Double click on the Credit Amount first to tag it,
Double click on the Invoice or invoices to Match (Tag) to the Credit amount
In this example the Total Credits and Total Debits match completely and the Balance = 0.00. It is also fine to partially match by using the Modify Amount button and entering the value to match.
Select the Credit Match button to apply the matching.
Continue this procedure until all amounts have been Credit Matched
Note: The Credit amount must be selected and tagged first.
Reversing a credit matched transaction
From the Credit match Window
From within the Credit Matching screen, select the Reverse tab and repeat the tagging and select the Reverse button.
Note: Only current transactions can be reversed this way. To reverse historical transactions use OptionB
From the invoice listing
Right click on the payment or invoice and select the Match Details option
Select the Unmatch button to reverse.
This option works for both current and historical transactions.
Historical transactions will be moved out of history and into the current screen
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