UB> Adjustments and Fees> Redistribute Credit Balances

Redistribute Credit Balances

 

Summary

 

The Redistribute Credit Balances process is used to move overpayments or credit balances on services to unpaid balances on other services on a customer account. This ensures that credit balances on the customer account will be used to pay the balance on services that are unpaid. The process creates a credit and debit within the applicable services, creating a wash transaction (a transaction that does not affect the balance of the customer account). If there are UB customer accounts with deposits, the deposit amounts will not be redistributed to services with an unpaid balance.

 

The redistribute credit adjustment type set up in the Setup window (UB> Utilities> Setup> Payment tab> Redistribute Adjustment Type field) affects the GL accounts used when redistributing credits. The GL Type attached to the redistribute adjustment type will redistributed the balances as cash type transactions.

 

The following journal entry will be created when credits are redistributed:

 

Description

Debit

Credit

AR account attached to credit balance service (service with the credit balance being redistributed)

XXX

 

Cash account attached to credit balance service

 

XXX

AR account attached to debit balance service (service with a debit balance being reduced by the redistribution of credits)

 

XXX

Cash account attached to debit balance service

XXX

 

 

Related Links

 

Click here for information on Adjustment Type Code Maintenance.

 

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