What's new?
Starting Feb. 1, 2023, refunds will reopen the invoice(s) that were paid by the refunded payment. Included in this improvement, when processing a refund you will have the option to either leave the invoice(s) open or write off the invoice(s). See details below:
Leave Invoice Open
The invoice(s) originally paid by the refunded payment will remain open and have the same balance they did before the refunded payment was made.
Example: If a member accidentally paid with their personal credit card but wanted to use their corporate credit card, leaving the invoice open makes it easy for them to pay again.
Write Off the Opened Balance
The invoice(s) originally paid by the refunded payment will be written off.
Example: A member had a family emergency and can't attend an event they registered for. You want to refund their registration but don't expect them to attend the event. Writing off the invoice closes the transaction and creates a clear record of what happened.
What Changed?
Refunds previously did not change their related invoices - meaning the invoices stayed closed after a refund was made.
Why is this changing?
Refunding a payment without a matching change to the related invoices created accounting records that were not as clear as they could be. In an audit, it may look like a member was double charged for the same item. You may have to review emails and other records from the time to understand what happened.
We want to make sure your accounting records are as clear as possible and that you don't have any issues with your audits. While there is an additional step to creating refunds, we think the additional few clicks now can save a tremendous amount of time for you and your team in the future.
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