Posting opening credits

I am trying to post some opening credits by this method 2 I found on another post but I don’t have the “add credit” button ???

Method 2

In the bank management area create a new account and call it “Opening credits”. This will act as a container for all your opening credits. I created a new Bank Account Opening Credits but cant see how to do the next part …

Now locate the client or supplier you wish to issue a credit. You will find on the detail screen an “Add Credit” link. Click on this and deploy the credit to the “Opening Credits” account you created previously.

when the credit was issued

I believe the “Add Credit” function was at some point renamed to “Add prepayment” therefore making reading

instructions little confusing. You will find this option in Client/Supplier detail screen (access this view by

clicking on chosen client/supplier):

A prepayment is a credit ?? Seems a bit strange

How so? A prepayment adds credit, so crediting the account/adding a prepayment are the same thing.

a prepayment and a credit are totally different accounting functions ? but if that’s the way it is then at least I have the answer

I think the English language will win this one but you are talking about ‘a credit’ and the system is talking about ‘some credit’. Yet another word that has several meanings.

I’ve seen all kinds of words used in an interchangeable way in accounting.

Occasionally people refer to crediting an account when they talk about explaining funds received from a client but not yet allocated to an invoice (we call this a pre-payment, but in the past we have also called this a credit).

The other interpretation I can think of is whereby invoices have been issued and paid for in the past, some problem has arisen and rather than refund the monies, the funds are credit noted and held on account for re-use later.

@Jane_Wakeling I have a feeling you’re referring to the latter?

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