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Invoices & Payments
Invoices & Payments: Credit Memo vs. Credit Refund
Invoices & Payments: Credit Memo vs. Credit Refund
Updated over a week ago

Refunds can only be issued up to 180 days after the transaction.

Credit memos function as an invoice with a negative amount. It is used typically when an invoice is mailed and you need to apply a credit.

A credit refund is when a team refunds money paid to the account through their payables system.

Take into consideration this scenario:

An account is invoiced/charged $50 for Dues and $50 is paid. The athlete decides to leave the team and needs a refund for dues.

The Admin will REFUND their $50 using the New Refund Credit Balance option, then apply a CREDIT using a Credit Memo to negate the Dues Invoice.

This creates a $0 for both the chart of accounts and financial balances.

How to Process a Credit Refund and Issue a Credit Memo

  1. From the left navigation, go to Business Tools > Invoices & Payments > Search for the account > Select the View.

  2. At the top, select New Refund Credit Balance.

  3. Enter the amount you're refunding as a negative dollar amount.

  4. You then have to create a Credit Memo to balance.

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