How to track and report on customer credit
There are a number of reports available that allow you to track customer credit sales and redemption in Timely:
Customer credit allows you to store a balance or credit on a customer's account, which you can then use towards their invoices. This feature is available on our Schedule and Sell plan; everything you need to take your business to the next level. Find out how to upgrade in our How to change your Timely plan guide.
Customer credit activity This report breaks down your credit activity by
Staff member or
Location. You can see the monetary value of issued and redeemed credit.
Customer credit detailsThis report shows a breakdown of credit by
Customer. It can be filtered by
The report also shows important information like whether the Status and the Expiry date. This is a good way of working out your current credit liability.
Pro accounting tip: A liability is an obligation and it is reported on a company's balance sheet. For credit, this means you are obligated to allow that customer to redeem the credit for the set amount, and it will not be counted as revenue until it is redeemed.
View a customer's credit balance You can view any credit that a customer has been issued from their customer record.
- You can see any credit they have remaining directly from the summary page:
- You can then head to the Customers page and view the Credit tab, to find out more about their credit history: