Record Transactions

This article discusses how to record payment, refund, and credit transactions in the project Billing section. To record a transaction, navigate to your project's Billing section and select the Summary tab.

Tip

If you have Payments by Filevine, you can collect payments and issue refunds directly, and the respective transactions will automatically appear here. The workflow in this article will still apply for non-electronic payments like cash or check.

• Record a Payment
• Record a Refund
• Record a Credit
• Edit or Void Transactions

Record a Payment

In the Transactions list, click the plus button to open the Create Transaction flyout. In the “Type” dropdown, confirm that Payment is selected. Enter the payment method, date, and total. To enter a reference number or note about the transaction, use the Description field.

If project funds have a positive balance, the Use Project Funds checkbox is selected by default. When enabled, this setting automatically sets the “Method” field to Project Funds. After you save, the payment amount is deducted from the project funds balance. To use a different payment method, uncheck Use Project Funds, and then enter the desired method in the “Method” field.

In the Invoices section of the flyout, invoices with outstanding balances are listed.

• If automatically applied payments are on: the “Apply Transactions” column displays how much of the payment will be applied to the invoice(s) listed.
• If automatically applied payments are off: select the toggle in the “Apply Transactions” column for the desired invoice(s) and enter how much of the total payment to apply.

The Remaining box shows how much of the payment has not been applied to an invoice yet.

When you’re finished, click Save. The payment is applied to the relevant invoices in the Invoices list, and the payment transaction displays in the Transactions list.

Record a Refund

When payment transactions have unapplied balances, you have the option to record a refund for the unapplied amount. For example, if a payment has a $100 balance that has not been applied to an invoice, you can refund up to $100 of that transaction. Refunds cannot be applied to credit transactions.

In the Transactions list, click the plus button to open the Create Transaction flyout. Expand the “Type” dropdown and select Refund. Enter the refund method, date, total, and description.

In the Payments section, payments with unapplied balances are listed. To apply the refund to a particular payment, select the toggle in the “Apply Refund” column. This action applies the entire remaining refund amount to the respective payment, but you can change the amount if desired.

The Remaining box shows how much of the refund has not yet been applied to a payment. The remaining total must be $0 before you can save the transaction. Unlike payments, refunds cannot remain unapplied.

When you’re finished, click Save. The refund transaction displays in the Transactions list and is applied to the relevant payments.

Record a Credit

Credit transactions can be applied to invoices before they are finalized. That way, when the client receives the finalized invoice, they will have a clear distinction between their credited amount and balance due.

Once finalized, an invoice can no longer be credited. To reduce the balance due for a finalized invoice, you must either void & redo the invoice with the credit applied, or apply a partial write-off to the existing invoice.

In the Transactions list, click the plus button to open the Create Transaction flyout. Expand the “Type” dropdown and select Credit. Enter the credit date, amount, and description. The method automatically populates as Credit and cannot be edited.

In the Invoices section, non-finalized invoices with outstanding balances are listed. To apply the credit to an invoice, select the toggle in the “Apply Transactions” column. This action applies the entire remaining credit amount to the respective invoice, but you can change the amount if desired.

The Remaining box shows how much of the credit has not been applied to an invoice yet.

When you’re finished, click Save. The credit is applied to the relevant invoices in the Invoices list, and the credit transaction displays in the Transactions list.

Edit or Void Transactions

In the Transactions list, select a transaction to open its flyout details. Edit the description or method if desired. The date and amount cannot be edited.

For payment transactions:

• If you applied a refund to the payment: the flyout displays a banner with the refund amount.
  
• If you used project funds: the payment method cannot be edited.
• If automatically applied payments are off: you can edit which invoices the payment applies to and how much to apply.

When you’re finished, click Save.

To void a transaction, click Void in the lower left corner, and then click Void Payment / Refund / Write-Off.