Credit Adjustments (Negative Entry) are used when you want to give your customers a 'discount'. A credit entry will reduce their balance.
For example, A Customer has made a one-off deposit of £2,000/- and is expecting his monthly bills to be deducted or adjusted from the deposit balance or credit remaining.
How Do I Make a Credit Entry?
When passing a credit entry or adjustment, you have to enter the amount as a negative entry. This is how the credit entry of a deposit of £2,000 should look like:
Debit Adjustments (Positive Entry) are usually only used for refunds and balance forwards when transferring balances from another system or external record.
For example, If you have an outstanding balance of £1,000/- from a customer and you want to transfer the balance to the Cheqdin Billing system, simply enter the amount as (+)1,000£ and the system will automatically take care of the balance to the next recurring invoice.
How Do I Make a Debit Entry?
When passing a debit entry or adjustment, you have to enter the amount as a positive entry. This is how the debit balance of £1,000/- should look like:
Where I can see a statement of all the Debit and Credit entries?
All credit and debit adjustments applied are available and can be viewed in the 'All transactions' tab.