There are many reasons why you many need to process a refund in MatrixMaxx. The following article will give you the steps you need to follow.
Negative Balance
Before you can process your refund, the invoice will need to have a negative balance, meaning you owe the user money. Once the invoice has a negative balance, you will see an ‘Issue a Refund’ link appear under the ‘Apply a Payment link” in the invoice information area.
There are a few different ways to accomplish this depending on the circumstances of your refund.
Canceling the Invoice
The most common reason for a refund is the individual is canceling their transaction (Meeting Registration, Membership Application, Store Purchase, etc. ) When you cancel the invoice, any amount they have already paid that was not put into retained earning will then appear as a negative balance.
Editing the Invoice
A negative balance can also be reached by editing the invoice so the total amount is lower than is was before. For example: For a meeting registration, during the initial registration, the individual signs up for the Banquet dinner for a cost of $50 in addition to their meeting registration fee. No, the user is canceling their dinner signup. You would edit the registration and remove their dinner signup which would create a balance of -$50.
Adding a Temporary Discount
I neither cancelling or editing the invoice applies to your situation, there is one more way to create a negative balance – adding a temporary discount. For example, If you entered a credit card payment on an invoice and then the individual comes back to you to say they want to use a different card, neither cancelling or editing the invoice would apply.
To add a temporary discount, click the ‘Apply Discounts’ link int he Invoice Information section. Once the Enter Discount page comes up, add a description for your discount. Something like ‘Temporary discount to force negative balance for refund’. Put in a positive amount of at least $1 and less than the total amount already paid.
Click to save the discount and your invoice will now have a negative balance. Process your refund. Once you have completed processing your refund, you may delete your temporary discount in the Invoice detail area near the bottom of the screen.
Check Refunds
When you issue a refund for a check payment that was made in MatrixMaxx, you are simply recording that you are sending the person a refund (cutting a check, etc.). MatrixMaxx will not actually issue the refund to the individual, that must be done offline.
To record your check refund, once you have a negative balance on your invoice, click the ‘Issue a Refund’ link. Select your refund type as ‘Check’, enter the amount of the refund as a positive number, the check number and batch number. Once your information is entered, click save and your refund will be reflected on the invoice.
Credit Card Refunds
Refunds for credit cards that were entered with real-time processing work differently in MatrixMaxx. When you enter a real-time credit card refund, MatrixMaxx will actually use a reference transaction to credit the money back to the individual’s credit card.
If the refund is done the same day as the original transaction, it will act as a void and the individual will not see either the original transaction or the refund on their credit card statement. If the refund is done on a subsequent day, the individual will see both the original transaction and the credit from the refund on their credit card statement.
To process a real-time credit card refund, click the ‘Issue a Refund’ link. Select ‘credit card’ as the refund method and ‘Yes’ that you want the refund in real-time. You do not need to enter the credit card information again, MatrixMaxx will use a reference transaction to get the information from the original payment for the refund. Enter the refund amount as a positive number, then click save. Your refund will now be reflected on the invoice.
Refunding When there are Multiple Credit Card Transactions on One Invoice.
If an invoice has two different credit card payments, the main Issue a Refund link will issue the refund against the first payment. If you want to refund a different payment, scroll down to the section of the page that lists each payment. You will see a small refund link next to each credit card payment. This allows you to pick which payment you want to refund.