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.
Please Note: As of the Geranium release, the Stripe integration to Accounting Seed supports multi-currency credit card transaction processing. ACH transaction processing is limited to USD.
- Navigate to the cash receipt you wish to refund. Highlight the payment reference field and copy the value.
- Log into the Stripe website. Paste the payment reference information in the search field. The corresponding payment record in Stripe will show. Click into the record and click the "Refund Payment" button.
- Once you click Refund payment you will have the option for a full or partial refund:
- Once you enter into the amount that is supposed to be refunded it should take 5 to 10 days to appear on your customer's statement.
This refund then needs to be entered into Accounting Seed:
- 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.
- Record the Stripe fees as usual with a separate Journal Entry.
- Create a Bank Deposit which will include the two Journal Entries (above) along with any other Cash Receipts related to that batch.
- The Stripe integration to Accounting Seed supports multi-currency credit card transaction processing. ACH transaction processing is limited to USD.