Transactions - Crediting Transactions

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Distribution

AR Administrator^*

AR Billing Specialist^*

AR Billing Specialist-Remote^*

AR Manager^*

Related Procedures

Transactions - Correcting

Customers - Credit Balances and Refunds

Ownership

The AR Manager is responsible for ensuring that this document is necessary, reflects actual practice, and supports University policy.

Credit Transactions are used to cancel out an invoice, partially or completely.

Note: Crediting a portion of an invoice will update the amount due in the Integrated System, but it will not currently change the information shown on an invoice reprint.

IS Receivables
N ® Transactions ® Credit Transactions
Find Transactions

The Find Transactions window will open to find the Transaction to credit.

1. Search for the desired Transaction number.

The system allows search criteria using one or more fields.

2. Click the [Find] button.

Note: The "Credit Transactions" screen appears with the first record retrieved that matches your search criteria. If you searched for an exact transaction number only one record will be returned. However, if you searched by other criteria press [Page Down] or [Page Up] to see the records retrieved.

3. Use the dropdown menu in the Reason field to select the reason for the credit.

The Reason selected in the instance shown below is “Duplicate Billing.”

4. Enter the credit amount.

If you want to reverse the entire invoice, press ‘Credit Balance.: This will automatically complete the Transaction Amount fields.
If you want to reverse a portion of the invoice, such as 50%, then type 50 in the % column and click [Tab]. The amount field will populate with the correct amount based on the % you entered.
If you need to reverse a specific dollar amount of the invoice, type in the amount you need to credit being sure to use a negative sign (-) in front of the number.

5. Save your changes and click [Complete] to finish the credit transaction.

Effective: 11/08/06

Revision: 4 mr/sp

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