Amount and Outstanding values in the Financial Records section
The Amount and Outstanding values in the Financial Records section of a client contact record identify important information about each entry in the section.
Entries in the Financial Records section include approved invoices, credit notes, refunds, and payments. The Amount and Outstanding values for an entry can change when you do one of these tasks:
- Receive a payment from a client
- Refund a payment
- Make a credit note
The total Amount and total Outstanding values in the Financial Records section show the totals for all the records:
At 3:30 PM Monday, a Callisto Vets staff member makes an invoice for dental clean for a client. The invoice total is $500.00.
The staff member approves the invoice but the client wants to make payment during the next day. As a result:
- The Financial Records section in the contact record for the client shows an entry for the dental clean invoice
- The Amount value for the entry shows $500.00 because $500.00 is the invoice total
- The Outstanding value shows $500.00 because the client did not make a payment for the invoice
During Tuesday, the client makes a payment of $400 for the dental clean invoice because they do not have sufficient money for the full $500. As a result:
- ezyVet makes an entry in the Financial Records section for the $400 payment
- ezyVet changes the Outstanding value for the entry for the dental clean invoice to show $100.00
- ezyVet changes the Amount total value to show $100.00
- ezyVet changes Outstanding total value to show $100.00
During Wednesday, the client makes payment for the remaining $100.00 for the dental clean invoice. As a result:
- ezyVet makes an entry in the Financial Records section for the $100 payment
- ezyVet changes the Outstanding value for the dental check invoice to show $0.00
- ezyVet changes the Amount total value to show $0.00
- ezyVet changes Outstanding total value to show $0.00
Causes for negative and positive values in the Financial Records section
The Amount and Outstanding values in the Financial Records section can show negative values or positive values for:
- Each entry in the section
- The total of all entries in the section
This table gives information about:
- Why negative values can show in each column as a result of clinical work or financial work
- Why positive values can show in each column as a result of clinical work or financial work
| Financial Records column | Causes of a negative value | Causes of a positive value |
|---|---|---|
| Amount | A credit note shows as a negative Amount value. A payment shows as a negative Amount value. | An approved invoice shows as a positive Amount value. A refund shows as a positive Amount value. Note: For example, a client returns flea treatment that they bought for $20.00. You make a credit note for the returned item. The credit note shows as -$20.00 in the Amount column. Then, after you refund $20.00 to the client, the refund shows as $20.00 in the Amount column.
|
| Outstanding | A payment allocation that is not completed for an approved invoice shows as a negative Outstanding value. Note: If an entry in the Outstanding column shows $0.00:
| Payment that a client must make for an approved invoice shows as a positive Outstanding value. |
Note: The total Amount and total Outstanding values of the Financial Records section show:
- A negative value if the client has an account credit.
- A positive value if the client owes money to your organization.