What is the timeline for processing refunds for online payments - credit card and ACH?

Posted on: 4/29/2021 1:35:15 PM
Replied by : support@icaresoftware.com

Electronic payments - credit card or ACH (electronic check) - can be voided or refunded according to the following criteria.

Voiding a Payment: A payment can be voided after it has been posted but before it has settled. Once it is settled it cannot be voided. Then you can process a refund.

Refunding a Payment: A payment can be refunded once it has settled.

TIMELINE: There is no restriction on a refund timeline. Payments can be refunded for any length of time in the future.

In iCare you can issue a refund from a parent's Ledger or the Transactions Report. To do so, go to the details of a payment transaction and click on Refund. If the payment hasn't settled yet, you will be able to only void it. If it has settled, you will be able to only refund it.

PARTIAL REFUNDS: You can refund a payment partially.

Leave a Comment / Question

Copyright © 2021 Orgamation Technologies, Inc. All rights reserved.