What is Credit Available?
Some customers will pay more than what you invoiced them. These extra amounts will become advanced payment under the customers name. These advanced payments will automatically stated as total credit available whenever you issue a receive payment for the customer.
In other words, credit available is how much the customer have left to spend.
Total credit available in TreezSoft
Total credit available refers to the total amount received that has not offset outstanding invoice in another receive payment. TreezSoft will automatically calculate the total credit available for your customers if there is any. Therefore, after you have selected a customer in a new receive payment records, remain calm if you saw an amount underneath it before you do any other thing.
In example below, all three receive payment were successfully recorded. Advanced payment for these three records are automatically included in calculation when you view the records individually - advanced payment in OR0002 and OR0003 are recorded in OR0001, advanced payment in OR0001 and OR0003 are recorded in OR0002 and advanced payment in OR0001 and OR0002 are recorded in OR0003. Therefore, all TreezSoft automatically linked them altogether.
Receipt OR0001:
Receipt OR0002:
Receipt OR0003:
For example, based on those three print screen above, you can see the different total credit available shown in different receipt payment.
The total credit available shown the total amount received that has not used to offset outstanding invoice by the same customer excluding the receive payment that you viewed recently.
You can add up total advance payment with total credit available to find the total amount that the customer has paid to your company.
In other words, total credit available in Receipt OR0001 shows total advance payment of Receipt OR0002 and Receipt OR0003; Total credit available in Receipt OR0002 shows total advance payment of Receipt OR0001 and Receipt OR0003; and total credit available in receipt OR0003 shows the total advance payment of Receipt OR0001 and OR0002.
Below is a simplified version of the calculation:
Now, my company has 3 receive payment from Lance. The following shows the calculation of the total credit available.
You can also visit these links to read more about received payments in TreezSoft:
TreezSoft is a cloud accounting software for Small and Medium-sized Enterprises (SMEs). It allows you to access your financial information anytime, anywhere. It also allows you to have unlimited users for FREE for your account in TreezSoft. Our aim is to help reduce our clients' time spent on accounting mainly by using our automated processes and integration to help increase their company effeciency at a minimum costs. SMEs can use TreezSoft to keep track their expenses, accounts, daily operation e.g. Point of Sales (namely QPOS) system and etc.
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