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We are trying to gather information regarding handling credit card refunds. Currently in our apps9 version, all credit card transactions come into IFS as a check. Refunds do not create ‘negative’ checks within IFS. Each day we get a statement of the deposit and charges we get from our banks regarding credit card transactions. We then enter that gross total as a mixed payment that writes to a GL account. We then cash the checks generated for that same day to balance out the deposit mixed payment. However, if there were refunds the total of checks to be cashed that day will be more than what has been deposited and in turn, we create a manual mixed payment for every refund to ensure that the deposit total is the same as the total of the check cashing.

Does anyone know of a capability of creating “negative checks” from a refund. If that functionality was possible, it would eliminate the need for creating the individual mixed payments for each refund.  We have tried to create “negative checks” but receive the error message below.

 

How does anyone else handle refund within IFS either from an integration of a 3rd party credit card charge or a manual entry within IFS?

If you know which refund is applicable to which check, you can void it, I think.

If you know which refund is applicable to which check, you can void it, I think.

Hi Adam and thank you. We do not have a check that is generated by the refund. We just know from a report from our bank what the refund amount was. If the refund is of a returned item a credit invoice is created however we still have to create a mixed payment in IFS to represent that refund that in turn we can match to the credit invoice.

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