Record a Refund

Security Note: You need the Allow the user to maintain refunds security right in the Payments user group security rights group for this activity. To edit the exchange rates, you need the Allow the user to override FX rates in refunds security right in the Payments user group security rights group. To edit the allocation dates, you need the Allow the user to edit the allocation date on refunds security right in the Payments user group security rights group.

Activity Steps

1. Open the Payment Explorer.
2. Select the Payments tab.
3. Right-click and select New Refund from the menu.

   The Refund displays.

4. Enter the basic refund details in the Refund field group.
   • Refund Date
   • Name
   • Internal Company—Select from the companies defined on the Organisations panel of the Solution Explorer.
   • District—The district is optional for recording a refund; however, is required for creating journal entries. Select from the districts defined on the Organisations panel of the Solution Explorer. If a company is selected, only districts for that company display.
   • Organisation—Select from the organisations and companies defined on the Organisations panel of the Solution Explorer.
5. Enter the credit and banking details in the Refund field group as required.
   • Credit Line—Select from the lines of credit defined for the Organisation. If the refund will be associated with an invoice instalment for a despatch order that has a Credit Line specified, the Credit Line does not need to be selected in the Installment Payment field group. The refund will be applied automatically to the despatch order's Credit Line when the refund is locked.
   • Bank—Select from the banks defined in the Bank Editor. The bank code also displays.
   • Bank Account—Select from the bank accounts defined for the Company.
6. Select the Currency to be used for the Refund Amount. Select from the currencies defined in the Currency/Exchange Editor. The default refund currency is the default system currency.
7. Enter the Refund Amount.

   MineMarket recalculates the Available Amount.

   The Available Amount is calculated as the Refund Amount minus the total refund amount and payment charges, in the default currency.

8. If a currency conversion is required, enter the Exchange Rate Source. Select from the exchange rate sources defined in the Currency/Exchange Editor.

   An exchange rate record is created for the payment in the Exchange Rate field group. The rate is from the primary or secondary currency of the invoice or the invoice's journals to the instalment payment currency, on the Payment Date.

   If an exchange rate is required but not displayed, right-click in the table and select Recalculate FX Rate from the menu.

   Note: The exchange Rate Value can be overridden if required and if you have the Allow the user to override FX rates in refunds security right in the Payments user group security rights group. A tooltip displays the original exchange rate if the value has been edited. To reinstate the original value, right-click the rate and select Undo Override from the menu.

9. To associate the refund with one or more invoice instalments:
   1. Select the Invoice Installments tab.
   2. To apply a date range to the search, check Use Invoice Date or Use Invoice Due Date and enter the Start Date and End Date.
   3. To include a text string in the search criteria:
      1. Select the method to Search By from:
         • Invoice Number
         • Invoice Reference
         • Despatch Order
         • Despatch Name
         • Despatch Number—Despatch Number of a truck despatch or service trip, Consignment Number of a train, or Voyage Number of a shipment.
         • Vessel Name
         • Organisation
      2. Enter the text to Search For. Text searches are case-sensitive with SQL databases with a case-sensitive collation and with all Oracle databases.
   4. To sort the search results:
      1. Select the method to Order By from Invoice Number, Invoice Date and Invoice Reference.
      2. Set the Sort Order to be ascending or descending.
   5. Click Search.

      Invoice instalments that match the search criteria and the Organisation in the Refund field group display. The organisation can be the Organisation or the Pay To organisation of the invoice.

   6. Check Selected for the required invoice instalment(s).
   7. Update the Allocation Date for each invoice instalment if required.

      Security Note: You need the Allow the user to edit the allocation date on refunds security right in the Payments user group security rights group for this activity step.

   8. Update the Refund Amount for each invoice instalment if required.

      MineMarket recalculates the Available Amount.

      Note: If the refund amount is edited for a selected instalment, MineMarket performs a currency conversion, if possible, and updates the instalment. If no exchange rate is defined, an error message displays and the due amounts are updated to indicate that the refund (in a different currency) cannot be applied.

10. To add payment charges:
    1. Right-click in the Payment Charges field group and select New from the menu.
    2. Complete the following fields.
       • Payment Charge—Select from the Payment Charges list items defined in the List Editor.
       • Amount—Amount to be paid for the charge, in the instalment payment Currency. Positive or negative charges are allowed.
    3. If the payment affects the Available Amount, check Affects Available Amount.

       MineMarket recalculates the Available Amount.

11. Click Save.