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Credits are a way for administrators to correct or modify a student’s account balance or to reduce the amount a student owes for a particular invoice. Any time a student has paid more than they have been charged, their account balance will be reflected as a credit balance.
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Issuing a Credit
Credits are independent transactions that bring down a student's account balance, and work well to record things like starting balances, vacations, holidays, referrals, and more!
Rather than issuing a refund or a discount, administrators can issue a credit to the student's account. It's important to note that credits are applied to a given student and not a given payer, so the credit will be included in the student's account balance. Credits will not be immediately applied to an invoice. Admins can choose to manually apply them to a previously posted invoice for any payer (primary or not), but if left unallocated, the credit will automatically apply to the next invoice that posts to the student's account for the primary payer.
Unlike adjusting a charge, adding credit is a standalone transaction that simply lowers the amount owed by the student and can help minimize administrative work. Here's how to issue a credit:
Navigate to the student’s billing profile
From the Select an action drop-down, choose to Add a credit
Enter the Credit amount, choose a Reason from the drop-down or type in the box to create a new one, and add any Notes
Optionally, if you’d like to apply the credit to a posted invoice type the amount applied on the open invoice(s) row
Press Save & apply
Applying/Unapplying a Credit to an Invoice
To Apply a Credit to an Invoice:
Go to the student’s billing profile
Select the Available credits & payments tab, under Current activity
Locate the specific credit and click Actions at the end of the row
From the drop-down menu, select Apply to invoices
Under the Amount applied column, type the amount of the credit that you’d like to apply to an open invoice
When done, press Save & apply
To Unapply a Credit to an Invoice:
Go to the student’s billing profile
Click on the All transactions tab
On the invoice the credit is applied to and press Actions
From the drop-down menu, select View / Edit
Select Actions on the credit
From the drop-down menu press Unapply
Confirm by clicking Yes, unapply transaction
The credit will then be unapplied from the invoice and will be visible under the Available credits & payments tab on the student’s billing profile. You can apply this credit to another posted invoice or it’ll apply automatically to the next posted invoice for the primary payer on the account.
Deleting/Adjusting a Credit Amount
Post creation of a credit balance you will not be able to edit or delete the standalone credit. If an account credit was created in error or if the credit balance needs to be reduced. You can adjust the credit by issuing a one-time charge to cover the entire balance or to reduce the balance of the credit.
Go to the student’s billing profile
Click on Select an action
From the drop-down, select Add a one-time charge
Click + Create a new charge
Input the required fields and an amount to reduce the credit by or the amount to zero out the credit (you can add a disclaimer for the charge in the Description or Notes)
Press Save
Click Set schedule
Confirm a due date, we'd recommend the day of to adjust the credit balance as soon as possible
Select Preview & confirm
Double check everything is correct and click Create invoice
If the credit is not applied to any invoices, upon creation of the charge the credit will auto-apply to it as long as the invoice was assigned to the primary payer. If the credit does not auto-apply please apply the entire credit or the desired portion to the new invoice to balance it out.
Please note that payers will receive notification of the new charge. It may be beneficial to reach out to the student payer proactively to explain the circumstances and clarify that the charge and credit will balance out.