Refunding Payments

What is a Payment Refund?

A Refund allows you to return funds from Payments received by your customer.
Refunds can only be issued for unapplied portions of a payment.
There are two types of refunds:
- Refund to Source: A refund where MonetizeNow sends funds automatically via your connected Payment Gateway to your customer’s payment source.
- Manual Refunds: A refund where you send funds manually to your customer, most commonly by check.

Sample use cases

A customer pays an Invoice, you issue a Credit Note to cover part of the Invoice amount due to SLA performance, and you want to refund the overpaid amount.
A customer accidentally double pays an invoice, and you want to refund the duplicate payment.
After updating a payment’s applications, an unapplied amount remains, and you want to refund the excess.

How do I issue a refund?

Find the relevant Payment on the Accounts or Bill Group page. Ensure that there is an unapplied amount >0. If the unapplied amount is 0, first unapply the amount you wish to refund from Invoice(s). Click Refund.
Issue a refund (partial or full) for an amount up to the the unapplied portion of the payment.

How do I know if a refund has been issued? How do refunds impact the Payment?

Refunds are recorded in the payment’s application history on the Payment document.
Refunding a payment will reduce the overall amount available for applications on that payment.

FAQ

	Question	Answer
1	Can I manually refund a payment made from any payment method?	Yes, manual refunds are available for all payment types.
2	I can’t issue an electronic refund. Why not?	Not all payment methods can be electronically refunded. For payment methods that cannot be electronically refunded, you may issue a manual refund.
3	I want to refund a payment to a different electronic method than the payment’s source or refund a manual payment electronically. Can I do this?	Electronic payments may only be refunded to the original payment method.
4	Can I make a partial refund?	Yes. Payments can be refunded in part or in a whole. The maximum amount that can be refunded is the unapplied amount of the payment.
5	My payment has been applied. Can I still unapply it?	Yes. But you must first unapply the payment from Invoices. The maximum amount that can be refunded is the unapplied amount of the payment.
6	My electronic refund failed. What can I do?	An electronic refund can fail for numerous reasons. For example, a credit card or bank account may have been closed. To continue with a refund, we suggest issuing a manual refund in MonetizeNow and sending a check or other money transfer to your customer.
7	Which users have access to issue refunds?	Users with the Billing Admin or Tenant Admin Roles may issue refunds.

Updated 4 months ago