Sometimes an organisation may have been paid money and there is a need to return it. The following is the process to record the money that has been returned, whilst also still having a record of the original payment that was made.
Open the application which should be in the Approved status.
Step 1: Adjust the grant amount
Change the grant amount to reflect how much you have actually granted (The original amount minus the amount that was returned to you) and Save Draft.
Step 2: Add the refund amount
Click the Schedule Payments button.
Using the Plus icon, add a new payment.
- Date - The date that you received the refund
- Amount - The amount of the refund (with a negative value)
- Status - Refund
Don't delete the original payment as you will still want that as a record
Click Create Payments when you are finished and close the window.
Click the Allocate Funds button.
There will be the refunded payment at the bottom and you will need to allocate the negative amount to the original fund.
Click Create Allocations and close the window.
Depending on your internal requirements you may want to allocate the refund to a different financial year to the original payment if the refund was in the next FY.
Step 3: Create a note
Add a note on the application or the payment to record the reason for the payment being refunded.