Refund Debtor with a Credit Balance

Modified on Wed, 4 Mar at 5:09 AM

TABLE OF CONTENTS

Summary
End Result
Method

Summary

This article explains how to refund a Debtor with a credit balance.

End Result

Once completed the Debtor should have a $0 balance. The Debtor will not owe any money to the school and will not be in credit.

Method

Firstly you will need to enter a charge via Debtor Charges Entry to the debtor. Allocate this transaction to a fee a code set up for this purpose, for Example Debtor Repayments.
Enter a Creditor's invoice to the Debtor (You may need to create a creditor record for the Debtor using the same Community ID. This is done via the Creditor Module. The Debtor and Creditor Modules work independently so need their own record).
Allocate the invoice to the same G/L code that the Debtor Repayment fee code was allocated to.

Considerations

Should this amount need to be refunded or transferred to another debtor for example in the case of merging debtor records or deceased debtors. In some circumstances it may be more beneficial to simply transfer the balance rather than refund it and then re-enter it against another debtor.