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Payments, Adjustments and Refunds

Once an invoice has been created, you can record payments or adjustments against that invoice. You can also refund any payments that have been made against the invoice, if necessary.

To record any of these, right-click on the invoice and select the appropriate item from the menu:

An invoice can no longer be edited or deleted if payments or adjustments have been recorded against it.

Recording a Payment

  1. Set the date of the payment.
  2. Enter the amount being paid.
  3. If there is money available in the Holding Account, you can opt to utilise this when recording the payment. See Holding Account for more information about this button and field.
  4. Choose the payment type.
  5. Choose the location where the payment was received. You can set the default for this field in File > Global preferences > General preferences > Invoice
  6. A free text description or notes can be entered in this box if necessary.
  7. If you are linking VETtrak to a finance system of some kind, this field can be used to store the number that identifies this payment in your finance system.
  8. If you export VETtrak Invoices to an external finance system, details regarding the exporting of this Invoice will be displayed in these fields.
  9. The grid will show all items on the invoice that still have amounts outstanding. Fully paid items will not appear.
  10. The payment will default to being allocated to the first item on the invoice, but you can change this by manually changing the amounts in the fields.

If a payment is recorded in error, and you wish to reverse this - You can do so by recording a Reversal.

To do this, you can right-click on the payment as it appears under the expanded Invoice, and select Reverse payment:

A record of the payment will be kept, but it will no longer affect the balance as it is now categorised as a Reversal.

 

NOTES:

If you are using a secure gateway for credit card payments, these payments can be processed directly from the Payment Wizard. Simply enter the card details and tick the box. (The tickbox will only be enabled if you are already using a payment gateway.)

You can set up extra payment types in the Configuration Manager, if required.

Adjustments

If you require to reduce the owed balance for an Invoice for whatever purpose, you can record an adjustment against that invoice. 

NOTE: Recording an adjustment would reduce the Enrolment/Contract item amount by the entered numeric value. For example, recording a $100 adjustment against a $500 item would reduce the item to $400 

  1. Set the date of the adjustment.
  2. Enter the amount to reduce the invoice by. 
  3. Choose the location.
  4. A free text description or notes can be entered in this box if necessary.
  5. If you are linking VETtrak to a finance system of some kind, this field can be used to store the number that identifies this adjustment in your finance system. 
  6. The grid will show only the items that have not yet been fully paid.
  7. The adjustment will be allocated to the first item(s) in the list by default, but can be changed if necessary by typing the amounts into the appropriate fields.

Refunds

A refund is required if you need to return money that has already been paid against an invoice.

  1. Total amount available to be refunded.
  2. Set the date of the refund.
  3. Enter the amount to be refunded.
  4. Choose the location where the refund is issued.
  5. A free text description or notes can be entered in this box if necessary.
  6. If you are linking VETtrak to a finance system of some kind, this field can be used to store the number that identifies this refund in your finance system. 
  7. The grid will show only the items that already have payments recorded against them.
  8. The refund will be allocated to the first item in the list by default, but can be changed if necessary by typing the amounts into the appropriate fields. In this case, we are partially refunding the money that the client paid for their course, so we have entered the amount here to reflect that.
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    Tags:
  • Payment
  • Adjustment
  • Refund
  • Invoice
  • Finance
  • Invoicing
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