Monthly accountholder balances could be categorized into the following buckets:
Please note that "monthly transactions" below include invoices, credit memos, payments, reversals, and refunds.
| Line Item | Description |
| Past due | Any monthly transaction that has a due date prior to today will be reported in this line. |
| Outstanding Balance | Any past due amount plus (+) monthly transactions due within the next 30 days (current billing cycle) from today will be shown in this line. This balance will be shown in the garage point of sale (pos) unit to attendants and customers who are looking to make a payment. In addition, if autopay is set up, it will clear this balance when it is run on a monthly basis. |
| Credit Balance | Any advance or excess payments or credit memos will be reported in this line item. |
| Unearned Revenue | Any monthly transactions that have a due date greater than 30 days from today will be reported in this line. |
| Total Account Balance | Outstanding Balance + Credit Balance + Unearned Revenue |
Examples
For the below 4 examples, the following assumptions are used:
- Today's date: January 5nd, 2022 (01/05/2022)
- Invoice Due date: 1st of the month (e.g. January payment is due on Jan 1st; February payment is due on Feb 1st etc.).
- Monthly Parking Fee is: $500
Example 1:
Past Due: $500
Outstanding Balance: $500
In the above instance, the customer owes January rent which is in past due status. No other invoices are due from this customer within the next 30 days from today.
Example 2:
Past Due: $500
Outstanding Balance: $1,000
In the above instance, the customer owes January rent which is in past due status. Outstanding Balance adds the past due balance and any invoices that are issued and due within the next 30 days or less (e.g. February invoice) from today.Outstanding balance is what the customer is able to pay at the garage. If an autopay is set up, the outstanding balance will be cleared.
Example 3:
Past Due: $0
Outstanding Balance: $0
Credit Balance: -$500
Total Account Balance: -$500
In the above instance, the customer paid $500 extra which is not applied to any invoices or transactions. This credit balance will get applied to the next invoice created for the customer.
Example 4:
Past Due: $500
Outstanding Balance: $1,000
Unearned Revenue: $500
Total Account Balance: $1,500
In the above instance, the customer owes January rent which is in past due status. Outstanding Balance adds the past due balance and any invoices that are issued and due within the next 30 days or less (e.g. February invoice) from today. Outstanding balance is what the customer is able to pay at the garage. Unearned revenue of $500 means that we issued an invoice that has a due date of greater than 30 days from today (e.g. March invoice which is due on Mar 1st).