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Overview
In the event that it is necessary to issue a refund for an AR Invoice that has a credit balance, the recommended steps are presented below. These steps will allow you to link a refund to a particular invoice item and automatically alter the unpaid amount of the invoice. The screenshot below presents invoice #11219 which has a credit balance of $10,100.
Step-by-Step
- On the Cash Processing homepage, click the Add Disbursement link.
- On the header level, enter the appropriate information (e.g disbursement recipient, date, cash GL Account, etc). Be certain to select “Refund” as the Disbursement Category.
- Click Add Disbursement Header.
- On the line item level, enter the data for the items. Note that the amount entered is a positive amount.
- On the line item level, click the magnifying glass in the AR Item column and search for the negative AR Invoice Item to be refunded.
- Click Update.
- If there are additional AR item(s) to be refunded, enter additional disbursement items in the same fashion. Each AR item to be refunded must have its own disbursement item.
- When all item and header information has been entered and validated, print the disbursement and then post it.
Please watch the video below demonstrating how to link a Disbursement to Credit Invoice Items. Start the video by clicking directly on the screen. You can make the video larger by clicking on the Full-screen button.
Once the disbursement is posted, there are multiple changes automatically generated by the system. When you look at the detail screen for the AR invoice header, the refunded amount will increase and the unpaid amount will be zero.
When you look at the detail screen for one of the credit items that was refunded, note the field labeled Refunded Amount. This amount is incremented when a disbursement item linked to this invoice item is posted. Note that it alters the unpaid amount of the invoice item.
When you look at the student’s Finance tab, the amount refunded shows up as part of the Total Refunds and is used to calculate the Amount Due.
