Whenever we post a Bill in Sage Intacct with an inline credit amount and then to pay it we need to apply the credits manually otherwise the bill gets partially paid. To save this manual application of credits what we can do is just configure Accounts Payable to apply inline credits automatically when a bill is paid.
In Accounts Payable configuration we have a flag “Enable inline credits to be automatically applied to bills” which will effortlessly apply inline credits for us. This makes reports balancing easier because sometimes we may miss to apply credits when doing it manually. Reconciliation is made trouble free and uncomplicated.
Inline credits are applied using a top-down approach, called the waterfall method, by consuming maximum amount for every row unless all credits are utilized.
Go to Accounts Payable > under setup tab > Configuration > scroll down to Credits section.
On the Pay Bills page, we can view the applied credits by drilling down the item details. Click on “Line Details” for the appropriate bill, then the details page appears, on which you need to click “Credit Details” to view the credits applied.
If at any point of time we do not want inline credits to be consumed within the bill, then we may disable this option. We will then be able to apply inline credits to the original bill or any other bills against the same Vendor.
For bills those net amount is zero, inline credits are automatically applied and consumed within that bill, irrespective that this option of automatically applying credits is enabled or not. We can apply leftover credit to other bills of same vendor.
For bills with inline credits those net amount is negative, the credits are applied automatically and the positive bill line is marked as paid. The remaining negative amount will be available as credit to apply against other bills of same vendor.
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