How do I Refund payments and Direct Bill postings to a folio?
Posted by Jeff Tweddale on 05 Apr 2010 11:34 AM

How do I Refund payments and Direct Bill postings to a folio?

To refund money to a credit card in MyPMS, it is necessary to issue a NEGATIVE amount (for ex -85.00) to the credit card (or other payment account, such as Cash) on the folio. Or, to choose REMOVE which is the same as issuing the full NEGATIVE amount.

This issues the refund to the folio for that amount to that payment type.

Note, only users who are using our built-in MyCard payment gateway will actually see these payments refunded back to a card holder's credit card. For these MyCard users, the ability to choose REMOVE from a credit card payment is no longer an option once the credit card charge has been 'settled' via the 'Settle Credit Cards' process of Night Audit.

For users who are not using our built-in MyCard payment gateway, refunding to a credit card is simply an accounting procedure, it does NOT affect the card holder's account in any way.

The situation with Accounts Receivables - sometimes called Direct Bills - is a bit different. There is no way to choose REMOVE or MODIFY for a Direct Bill (DB:) payment. But they can be balanced out by following the simple + and - approach you learned in school. For example, if I at first did a payment on a folio to a DB account: Demo for 111.20, and I wanted to 'remove it', then I would do another payment of -111.20 to the DB account : Demo.

The + and then the - payment would 'balance out' the original -111.20 to become effectively $0 on the folio and also on the DB account for the Company: Demo.
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