Handle Refunds in Sage Intacct

You may need to record a refund paid to a customer. This could be because the customer overpaid or they when they have returned some goods. Intacct has no sponsored facility for issuing refunds to customers.

In case there is a Dispute or a Refund, you will have to reconcile your checking account manually.

Follow these steps to process:

Refunds

1. From the Paystand Dashboard, navigate to the Invoice and scroll to the bottom of the page>Click on Refund> Enter the Refund Amount> Click on the Refund button. 
   
   
   
2. In Sage Intacct, a refund will revert the posted payment (You will see it in a negative amount).
   
   
   
3. The total remaining amount will be posted as a new payment, equal to the original payment minus the refunded amount, and will be applied to the same invoice.
   
   
   
4. A Credit Memo will be created and applied to the invoice of the original payment. This will be done automatically.
   
   
   
5. This newly posted payment will require Manual Matching for reconciliation to work since Sage Intacct limits us to reconcile both refunds and disputes.
   
   
   
6. The Refund will be reflected in the Paystand Dashboard under the corresponding invoice.
   
   
   

Additional Resources:

• Refunds
• Manual reconciliation of checking account in case of Dispute or Refund
• If there is a refund or a dispute will the invoice status change in Sage?