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Credit Memos

Overview​

Credit Memos in the Payments module provide a comprehensive system for managing excess payments made by students. When students overpay their fees, these excess amounts are tracked and managed through the Credit Memos system, allowing institutions to efficiently handle refunds or apply credits to future fee adjustments.

Key Features​

→ Credit Status Tracking with Active, Refunded, and Used status management.
→ Batch Year Selection for filtering credit memo records by academic year.
→ Student Information Display including admission no., roll no., and student name.
→ Credit Amount Management showing total credit amount and available balance.
→ Transaction Details with comprehensive view of credit memo history.
→ Refund Processing with confirmation system for credit back to students.

Credit Statuses​

Credit memos are categorized into three distinct statuses:

StatusDescription
ActiveCredit amount is available and can be used for future fee adjustments or refunds.
RefundedThe excess amount paid has been refunded back to the student.
UsedThe excess amount paid has been utilized for adjusting other fees.

Accessing Credit Memos​

  1. On the left side of the main menu, go to Payments → Credit Memos.
  2. Select the desired batch year from the available options.
  3. Credit details are immediately displayed in a comprehensive table format.

Viewing Credit Information​

Main Credit Memos Screen​

After accessing Credit Memos, the system displays:

  • Admission No. - Student's unique admission identifier
  • Roll No. - Student's roll number for the academic year
  • Student Name - Full name of the student
  • No. of Credit Memos - Total count of credit memos for that student
  • Total Credit Amount - Sum of all credit amounts for the student
  • Amount of Credit Still Available - Remaining credit balance that can be used
  • Action Column - Available actions for managing credit memos

Detailed Credit Information​

  1. Click on the 'View' (eye) icon in the Action column to access detailed credit information.
  2. The detailed view provides comprehensive credit memo information including transaction history.

Transaction Description​

  1. Inside the detailed view, click on the 'View' (eye) icon again against the specific record under the Action column.
  2. This displays the complete transaction description with detailed information about the credit memo entry.

Refund Processing​

Processing Refunds​

To refund over-paid money or credit it back to the student:

  1. Navigate to the specific credit memo record.
  2. Click on the 'Refund' button for the desired credit memo.
  3. Confirm the refund action when prompted by the system.
  4. The credit memo status will be updated to "Refunded" upon successful processing.
Refund Information
  • Refund processing may take time depending on the payment method used originally
  • Students will be notified of refund processing through the system
  • Refunded amounts cannot be reversed once processed

Expected Results​

After accessing and using Credit Memos, users should be able to:

  • View comprehensive credit memo information filtered by batch year
  • Track credit status for all students with excess payments
  • Access detailed transaction descriptions for each credit memo
  • Process refunds efficiently with proper confirmation systems
  • Monitor available credit balances for future fee adjustments

Important Notes​

Access Requirements
  • Ensure proper user permissions are configured for credit memo operations
  • Verify student records exist in the system before processing refunds
Credit Processing
  • All credit memo transactions are logged automatically for audit purposes
  • Credit status changes are tracked with timestamps and user information
  • Refund processing follows institutional financial policies and procedures
Best Practices
  • Always verify student details before processing refunds
  • Keep records of refund confirmations for accounting purposes
  • Regularly review active credits for potential fee adjustments

Common Issues & Solutions​

🛑 Issue✅ Solution
Credit memo not displaying for studentVerify the correct batch year is selected and student has overpaid fees
Unable to process refundCheck user permissions and ensure credit memo is in Active status
Transaction details not loadingRefresh the page and ensure stable internet connection
Refund amount discrepancyContact system administrator to verify credit calculations

FAQs​

Q: How are credit memos automatically generated?
A: Credit memos are automatically created when students pay more than their required fee amount through any payment method.

Q: Can credit memos be manually adjusted?
A: Credit memo adjustments require administrative privileges and should follow institutional financial policies.

Q: What happens to credits at the end of academic year?
A: Credit handling policies vary by institution. Contact your finance department for specific procedures.

Q: Can partial refunds be processed?
A: The system supports full refund processing. For partial refunds, contact system administrator.

Support​

Need Help?
Access Support Portal from the footer and click on "Login with CampX."