Refund journal entries
The reconciliation flow for active transactions where the merchant collects the shopper's payments in a set number of installments, and a refund needs to be issued, follows these steps:
- The payment is authorised.
- The payment is captured.
- If the shopper requests a refund, a
SentForRefundjournal entry is created.
RefundedInInstallmentsjournal entry is created.
Regardless of the number of installments the total amount is split up into, a payment can have only one
SentForRefundjournal entry is balanced against
This occurs as soon as we receive information about the installment due dates.
The standard time frame for this operation is usually D+1.
OpenInstallmentjournal entry is created for each installment referring to the payment.
Cielo normally handles a refund request in one installment.
- When an installment is settled/deducted/refunded, a
RefundedInstallmentjournal entry is created.
OpenInstallmentjournal entry is balanced against its corresponding
Except for payment authorisation and capture, these steps are repeated for each installment in the transaction.