Open credits are monies due to the customer without any documented trace.

 

•Open credits could be money from over payment of a previous invoice.

 

•Open credit monies can also be manually modified directly in the Open Credits field.

 

•The monies in the open credits field are relieved whenever a Cash Receipt is applied as a Credit/Discount, however entrée will never reduce the value of the Open Credits field below 0.00 when Credit/Discounts are applied.

 

•More information on using open credits when entering cash receipts can be found in the Accounts Receivable chapter.

 

 

You see how to apply an open credit as a discount below.

 

This example illustrates creating an open credit as a result of an over payment.