You may have recorded a general payment or a retainer from a client in Core and later been asked to refund it entirely or partially. In case of a complete refund or cancelling the entire payment, you can delete payments or, better still, void them so that a record of that action is maintained in the database. This can be done on the Payments screen. Check Core Help Center > Payments for details.
In case of refunding a client retainer payment, you can use the Credit Memos screen to do so.
- On the Credit Memos screen, click Create New.
- Select Type as Refund Retainer and enter the name of the client who needs to be refunded.
- A grid displays below with the client retainer record. Enter the Refund Amount against it and save it. Check Core Help Center > Credit Memos for details.
The next step is to enter a bill payment because in the background Core creates a system vendor bill for the above retainer refund transaction. Only then it becomes available for cutting a check to the client. If you have an Accounting subscription in Core, you can follow the steps below. If you do not have it, you can simply cut a check from your accounting software.
- On the Bill Payments screen, click Create New.
- Choose your client as the Payee and click Continue.
- On the Create Bill Payments screen, enter the bank account to be used for the refund and select the Method as Check.
- Under the Bills section, select the refund retainer bill (type Credit Memo) and enter the refund amount as the Pay Amount. Click Save.
- Back in the list view, click More > Print Checks to print the client's check. Check Core Help Center > Checks for details.