Handle Refunds in Sage Intacct

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. 
    Screen_Shot_2022-12-01_at_10.52.02_a.m..png

  2. In Sage Intacct, a refund will revert the posted payment (You will see it in a negative amount).
    Screen_Shot_2022-12-01_at_10.53.59_a.m..png

  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.
    Screen_Shot_2022-12-01_at_10.57.29_a.m..png

  4. A Credit Memo will be created and applied to the invoice of the original payment. This will be done automatically.
    Screen_Shot_2022-12-01_at_11.02.38_a.m..png

  5. This newly posted payment will require Manual Matching for reconciliation to work since Sage Intacct limits us to reconcile both refunds and disputes.
    Screen_Shot_2022-12-01_at_11.04.23_a.m..png

  6. The Refund will be reflected in the Paystand Dashboard under the corresponding invoice.
    Screen_Shot_2022-12-01_at_11.05.37_a.m..png

 

 

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