Process a Stripe Refund

Overview 

Currently, a refund in Stripe must be done within the Stripe website. You can do a full refund or a partial refund. A refund should be processed as a negative Journal Cash Receipt entry.

Note: The Stripe integration to Accounting Seed supports multi-currency credit card transaction processing. ACH transaction processing is limited to USD.

Process a Stripe Refund

1. Navigate to Accounting Home and click the Create Entries tab. Then, under the Revenues menu, click Cash Receipts.
2. Select a list view (other than the Recently Viewed list view).
3. Navigate to the Cash Receipt that you want to refund. Highlight the Reference field and copy the value. 
   
   
   Note: Click here to view the above image in full screen. 
   
   
4. Log into the Stripe website. Paste the payment Reference information in the search field. The corresponding payment record in Stripe displays. Click into the record and click Refund payment.
   
   
   
   
5. Select the Full refund or Partial refund radio button.
   
   
   
   
6. Click Refund.
   Note: The refunded amount should take 5 to 10 days to display on your customer's statement.

The refund then needs to be entered into Accounting Seed:

1. Create a Journal Entry for the gross amount. In this case, a Journal Entry with a $63 debit to either a refund or revenue GL account and a credit of $63 to the related bank account. 
2. Record the Stripe fees as usual with a separate Journal Entry.
3. Create a Bank Deposit, which will include the two Journal Entries (above) along with any other Cash Receipts related to that batch. 

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