diff --git a/erpnext/venue/doctype/booking_credit/booking_credit.py b/erpnext/venue/doctype/booking_credit/booking_credit.py
index a628e5c64e3e219732b895020dc88aaa4cfed428..44439277d09c9e4ad62d6668d0a66a855530a822 100644
--- a/erpnext/venue/doctype/booking_credit/booking_credit.py
+++ b/erpnext/venue/doctype/booking_credit/booking_credit.py
@@ -4,7 +4,7 @@
 from collections import defaultdict
 
 import frappe
-from frappe.utils import add_to_date, cint, flt, get_datetime, getdate, now_datetime, nowdate
+from frappe.utils import add_to_date, cint, flt, get_datetime, getdate, now_datetime, nowdate, add_days
 
 from erpnext.controllers.status_updater import StatusUpdater
 from erpnext.venue.doctype.booking_credit_ledger.booking_credit_ledger import create_ledger_entry
@@ -148,11 +148,16 @@ def _add_booking_credits(doc):
 
 def automatic_booking_credit_allocation(subscription):
 	for rule in subscription.booking_credits_allocation:
-		if last_generated_credit := get_last_credit_for_customer(
+		last_generated_credit = get_last_credit_for_customer(
 			subscription.customer, rule.booking_credit_type, subscription=subscription.name
-		):
-			if not are_subscription_credits_due(last_generated_credit[0].date, rule, subscription):
-				continue
+		)
+
+		if last_generated_credit and last_generated_credit[0].date == getdate(nowdate()):
+			return
+
+		previous_date = last_generated_credit[0].date if last_generated_credit else None
+		if not are_subscription_credits_due(rule, subscription, previous_date=previous_date):
+			continue
 
 		booking_credit = frappe.get_doc(
 			{
@@ -161,7 +166,7 @@ def automatic_booking_credit_allocation(subscription):
 				"customer": subscription.customer,
 				"quantity": cint(rule.quantity),
 				"subscription": subscription.name,
-				"expiration": rule.expiration,
+				"expiration_date": add_days(nowdate(), rule.expiration),
 				"booking_credit_type": rule.booking_credit_type,
 			}
 		)
@@ -170,14 +175,17 @@ def automatic_booking_credit_allocation(subscription):
 		booking_credit.submit()
 
 
-def are_subscription_credits_due(date, rule, subscription):
+def are_subscription_credits_due(rule, subscription, previous_date=None):
 	from dateutil import rrule
 
+	if not previous_date:
+		return True
+
 	if rule.recurrence == "Once":
 		return False
 
 	if rule.recurrence == "Every Billing Period":
-		if getdate(date) != getdate() and getdate() == getdate(subscription.current_invoice_start):
+		if getdate(previous_date) != getdate() and getdate() == getdate(subscription.current_invoice_start):
 			return True
 		return False
 
@@ -205,12 +213,14 @@ def are_subscription_credits_due(date, rule, subscription):
 		)
 	]
 
-	if getdate(date) != getdate() and getdate() in possible_dates:
+	if getdate(previous_date) != getdate() and getdate() in possible_dates:
 		return True
 
+	return False
+
 
 def get_last_credit_for_customer(customer, booking_credit_type, subscription):
-	filters = {"customer": customer, "booking_credit_type": booking_credit_type, "docstatus": 1}
+	filters = {"customer": customer, "booking_credit_type": booking_credit_type, "docstatus": 1, "subscription": subscription}
 
 	return frappe.get_all(
 		"Booking Credit", filters=filters, fields=["name", "date"], order_by="date DESC", limit=1