This shows the current balance of COD charges, third party financed charges, and the store charge account as of the current date. The current balance equals the difference between open invoices and open credits.
This shows open invoices and open credits on the customer's store charge account as of the current date.
If there are open credits, you can pay the credits directly to the customer rather than applying them to open invoices by clicking Pay Out to Customer. Enter the amount to be paid out, and click OK.
If credits are to be paid out by check, an account must be indicated in the Customer Credit paid by Check field in System | Company Setup | GL Accounts Page 2. Otherwise, credits are automatically processed as cash transactions.