A credit balance allows you to hold on to a "credit" that can be applied to future invoices or refunded to the customer. Unlike invoice and account balances, the credit balance cannot be negative. Once the credit balance feature is enabled, each billing account in BillHive Billing will have an account balance and a credit balance displayed under the customer account.

For example, a customer pays for a one-year subscription, but cancels after two months. Instead of sending a prorated refund check, you can retain the amount and allow the customer to use it to pay for another invoice.

A credit balance lets you:

• Accept an overpayment
• Transfer an invoice with a negative balance to the credit balance
• Apply a credit balance to an invoice
• Refund a credit balance to the customer
• Automatically apply the credit balance to invoices before attempting to apply a payment via the Payment Run