Refunds

There are four scenarios outlined below for refunds. Be sure to choose the right one for your situation.

1. Refunding an Invoice paid in Full
2. Refunding an Overpayment
3. Refunds when the Account is Paid in Full
4. Credit Card Refunds

Refunding an Invoice Paid in Full

1. If you are doing this for the first time, you will need to create a new GL and Fee code. Create a GL code “Refund due to Feepayer” in your accounting system and in the StuB GL List. In Preferences, GL code tab, make the GL Code you wish to debit for this refund “depositable” by clicking the “is_Depositable” checkbox, on its line item. Create a “Refund” Fee with a value of $1 pointing to the GL code “Refund due to Feepayer”.
2. Start here if you have already created the fees in Prefs.
3. Navigate to the Student List.
4. Charge the Student the Refund Fee.
5. Click the Review and Invoice Charges button.
6. Make sure this is the only fee in the window.
7. Modify the Refund Fee to the correct amount.
8. Click the Invoice Found Set button.
9. Go to Receive Payments.
10. Record a Payment in the amount of the refund using the Payment Type Discount “Credit”.
11. Allocate the credit to the Invoice created in steps 5-9.
12. Using the Create Deposit button, “deposit” the credit into the GL code to be debited.
13. Record the deposit in your accounting system.
14. Batch the Invoice and post the batch to your accounting system.
15. Cut a check from your accounting system or process your refund through your Payment Processor, posting to the “Refund due to Feepayer” GL code.

Refunding an Overpayment

1. In Preferences, for the first time doing this, you will need to create a new GL and Fee code.
2. Create a GL code “Refund due to Feepayer” in your accounting system and in the StuB GL List.
3. Create a “Refund” fee with a value of $1 pointing the the GL code “Refund due to Feepayer”
4. Navigate to the Student List.
5. Charge the Student the Refund Fee.
6. Click the Review and Invoice Charges button.
7. Make sure this is the only fee in the window.
8. Modify the Refund Fee to the correct amount.
9. Click the Invoice Found Set button.
10. Cut a check from your accounting system, posting to the “Refund due to Feepayer” GL code.
11. Find the Payment record in Payments List to be Refunded.
12. Click on the Pencil icon in the Payment List, and allocate the unallocated portion of the payment to the Invoice you created above.
13. Make a note in the Payment Notes field in the Main view, listing the refund amount, check number and reason for refund.
14. Click the Go To Related Invoices button.
15. Identify the Invoice that was affected by the payment.
16. Click the Generate Invoice PDF.
17. Click the Go to related Accounts in BillPay and Publish.
18. Using the Create Deposit button, “deposit” the credit into the GL code to be debited.
19. Record the deposit in your accounting system.
20. Batch the Invoice and post the batch to your accounting system.

Refunds when the Account is Paid in Full

1. The School writes a check to the family and posts the refund check to the appropriate Income/Expense account.
2. In STUDENT BILLING, in the Account Main view, in the Notes field, enter text to indicate a refund was sent with details. The same note could be added to the specific Invoice Notes field as well, in the Invoice Main view.
3. Click the Go To Related Invoices button.
4. Identify the Invoice that was affected by the payment.
5. Click the Generate Invoice PDF.
6. Click the Go to related Accounts in BillPay and Publish.

Credit Card Refunds

1. Login to the Merchant service provider website.
2. Look up transaction
3. Refund the charges there
4. Depending upon the situation, transactions that need to be done in StuB is covered in the above procedures.

Reverse Payments ›