The Ohio State University

Document: Continuation Credits

Date: rev. 5/21/2003

Effective: Immediately

Revised by: CPD

1. Credits are processed in the same manner as outlined in continuation invoice processing (except using a minus in the amount field).

2. A credit should not be posted unless a charge for the same time period and/or amount has been posted previously from an invoice.

3. Always include in the notes field the reason for the credit such as cancelled, ceased, out of print, item to be rebilled later, reduction in the subscription period, incorrect original charge etc.

4. If no reason for the credit is given, contact the vendor for clarification. The credit can be posted once clarification is received. If clarification is never received, process the credit anyway if it continues to appear on the vendor's statement.

5. The amount of the credit will not always be equal to the exact amount of the original charge. It may be a partial credit for a specific portion of the time period, etc. If a service charge was figured into the original total charge, we may not necessarily receive credit for that charge.

6. If the credit reveals new information such as: title has ceased, title must be ordered direct, specific volume is out of print or no longer available, etc., that information should be referred to the appropriate individual in the division. In essence, any information that may be needed for reordering or record enhancement or clarification on OSCAR should be captured and referred to SER at this point.

7. The credit should be dated and initialed in the same manner as with invoices and filed in the processing files in ASA.

8. The credit should also be entered in the Excel ledger and submitted to Accounts Payable for processing against a future invoice.

9. It is especially helpful to process credits when an invoice from the same vendor has been processed.

Page last modified: 8 November 2011

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