Processing a Payment Adjustment or Refund
- Michael Abramczyk
- Will Rensmith
- Megan Sproul
- John Kostakos
Issuing a payment adjustment or refund is a multi-step process involving the following steps as described in the following sections:
When an Adjustment Request is transitioned to Processed status, a new entry is created in the Payments, Electronic Settlements list listing the adjustment amount and the Amount Due is updated to reflect the adjustment.
Create the Payment Adjustment Request
You will not be able to add a Payment Adjustment Request if any of the following are true:
Payment Adjustment Requests have been disabled in your nVIRO instance.
You do not have the necessary permissions to add a payment adjustment (the Financials—Payment Adjustment Requestor security role).
There aren’t any payments or electronic settlements to be refunded.
To create the request:
Navigate to the Financial Details page, scroll down to the Payment Adjustment Requests section, and click the Add Request button.
The Payment Adjustments page opens.
Enter the Request Date and choose the payment that is being adjusted.
Specify the Request Amount, Adjustment Type, Reason, Remitter, Additional Comments (optional), and Approver.
The Approver displays a list of the supervisor(s) for any workgroups where the user is a member.
If the Adjustment Type is “Refund”, a Refund Method must be entered
Click Save.
The Adjustment page closes, and the request is displayed in the Payment Adjustment Requests list with a status of Pending.
Approve or Deny the Payment Adjustment Request
In order to approve or deny a Payment Adjustment Request you must be a member of a security group that includes the Financials—Payment Adjustment Approver security role.
Note that any user with this role can approve the request, even if they are not marked as the "Approver."
To approve or deny the request:
Open the Payment Adjustment Request
ClickUpdate Status
Select "Approved" if it is to be sent out or "Denied", if no refund should be processed.
Click Save
The Adjustment page closes, and the request now displays in the Payment Adjustment Requests list with a status of Pending.
The refund is not yet complete. Please proceed to the following step.
Process the Payment Adjustment Request
In order to finish processing the refund by setting the Processed Date, you must be a member of a security group that includes the Financials - Payment Adjustment Processor security role.
This step can be performed in tandem with the previous step if the current user belongs to both the Financials - Refund Approver and Financials - Payment Adjustment Processor roles.
To finish processing the refund:
Open the approved Payment Adjustment Request.
Enter the Confirmation Number if applicable (Typically provided by the source financial system).
Set the Processed Date
Click Save
Once the processed date is set and the request is saved, two things happen:
A new adjustment (e.g., “Refund”) record is created and is displayed in the "Payments, Electronic Settlements" list.
The Payment Adjustment Request status is set to “Processed.”
Update or Delete the Payment Adjustment Request
The following fields are updateable if the user has the role mentioned above (irrespective of the status of the Payment Adjustment request):
Changing the refund method from e-payment to check.
Changing a refund status (should not be limited to certain statuses. Situations arise for us to need to switch back to pending, denied, approved, etc.)
Change Request Amount
Change Remitter information
Click Save
Adjust the Receivable (if needed)
If necessary, adjust the Receivable Amount by adding a new Charge of type “Adjustment”. This may be the case if the refund covers only a partial amount of the total charges and the remaining balance needs to be written off. See Adding Late Fees, Adjustments, and Ad-Hoc Fees for more details.