Refund reconciliation

Reconciling a refund is very similar to reconciling a settlement.

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 SentForRefund journal entry is created.
  • RefundedInInstallments journal entry is created.
    Regardless of the number of installments the total amount is split up into, a payment can have only one RefundedInInstallments journal entry.
  • The SentForRefund journal entry is balanced against RefundedInInstallments.
    This occurs as soon as we receive information about the installment due dates.
    The standard time frame for this operation is usually D+1.
  • An OpenInstallment journal 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 RefundedInstallment journal entry is created.
  • The OpenInstallment journal entry is balanced against its corresponding RefundedInstallment entry.

Except for payment authorisation and capture, these steps are repeated for each installment in the transaction.




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