Understanding Open Payments and Credits in Time To Pet
Open payments are also sometimes referred to as "Overpayments"
While an "Open payment" may be conceptually similar to a "Credit" in Time To Pet, there are several substantial differences to keep in mind when using TTP. An open payment is anytime your customer has paid you more than they should have while Credits should be used whenever you would like to add a monetary amount to a Client’s account but you will not receive actual compensation for the credit amount.
Open payments occur anytime your client has paid you more than they should have. The two most common scenarios are an open payment made by mistake (if your client paid you $120 on a $100 invoice by accident) or an open payment caused by the cancellation of a visit which left a balance for your Client. For example, if your client had an invoice for $100 that has been pre-paid and cancelled one event that you did not charge them for. This reduces the total amount of the invoice to $80; however, your client has already paid $100. This would automatically create an open payment of $20. TTP automatically adds an open payment to your Client's balance sheet which will be available to apply to future invoices.
Credits should be used whenever you would like to add a monetary amount to a Client’s account but you will not receive actual compensation for the credit amount. Credits are not related to payments made by your customers and are specifically added to a Client’s account. For example, if you have a "Customer Referral Program", and you would like to add a $20 credit for your client referring their neighbor. Your client will never actually pay you the $20 but you would like to apply the Credit to a future invoice.
We have created three videos that help understand exactly how Open Payments and Credits work in Time To Pet.
Introduction to Payments
Handling Open Payments
If you have any Open Payments that you would like to delete, you can do so by Adjusting or Deleting the payment associated with the Open Payment. Please review our article on How To Delete A Payment for instructions on how to remove a payment. You can also review our help article on Adjusting Negative Balances For Clients Resulting From Open Payments