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Tish Crolius

Application of Credits

Posted By

I am using Sage Timeslips Premium, Build 30.0.4.84.  Is there a way for Timeslips to only apply a credit to future fees, not to costs or interest?  I thought a way around this might be to change the order in which the charges are paid under the client's payment distribution rules, but I don't think this solves my issue.  The issue is that the credit being applied is for $6846.40 and it exceeds the amount of the fees being billed this month.  I only want to apply the credit to the amount of the fees being billed this month, not to the costs or interest, and then have the remaining credit applied to the future fees being billed the next month, and the next month, etc., until the entire credit has been applied.  Even if I change the order in which charges are paid, the remaining credit will still get applied to costs & interest because the client's fees for the month do not exceed the amount of the credit. The only solution I have come up with is for me to simply apply a credit every month for the exact amount of the fees being billed until I have credited the client the full $6846.40.  Please advise if you are aware of a better solution. Thank you.          

  • 0

    That is going to be a bit of a manual process, given how you want to do that. I would just let it apply as it wants to the invoice and after approving the invoice,  go back to the Credit entry and manually reassign as you wish. 

    As long as you are not posting to Quickbooks you should have long term flexibility with applying the credit.

  • 0 in reply to Nancy Duhon

    That won't work if I apply the entire $6846.40 credit.  If the invoice reflects $2345 in fees & $450 in costs, the client's invoice will show a credit balance.  We don't want that, we want the the balance due to be only $450 for the costs.  So I think I need to apply a credit every month in the amount of the fees incurred so that client still gets billed for the costs.  But you're saying just let Timeslips apply the $2345 credit as it wants, then after the invoice has been approved, go back into the Credit entry and manually reassign as I wish, correct?  That's good.  Unfortunately, that would still entail me applying a credit of the fees every month until I have reached the full amount of the $6846.40 credit.  I was trying to avoid doing that every month, but I guess there is no other option.  Thank you for your assistance.  Greatly appreciated.  

  • 0

    Okay, so it is not so much applying the credit the way you want, but also not showing the credit balance. You might not want to use a credit transaction at all, but just put the amount in the FUNDS account and treat it more like a retainer/prepaid fee and it will let you control how/when you want to apply it.

  • 0 in reply to Nancy Duhon

    Thanks.  However, in the 24 years I've been worked here, our office does not use the Funds Account feature in Timeslips.  They use QuickBooks for funds like retainers and escrow.  

  • 0

    Even better, you can use the funds feature for this credit without having to blend it in with your retainer/IOLTA transactions.

  • 0 in reply to Tish Crolius

    What about adding a custom section to the invoice and hide the credit balance; You can probably manipulate the bill layout to show what you want to show.  Let me know if you want some help with that.  

    Terry Rosenthal, Timeslips Certified Consultant

*Community Hub is the new name for Sage City