How refunds impact my merchant account?
A refund has been issued in the Payments Portal, what can I expect regarding next steps?
A common question we recevie is "will the refund amount automatically come out of my bank account?" No, it will not- instead refunds will be netted out of your next eligible payout.
With Net Settlement of Refunds, AndDone automatically identifies transactions that have been refunded.
These refund amounts are owed to AndDone and are applied as an offset against future Sub-Merchant payouts. This process is handled programmatically and requires no action from the Sub-Merchant.
Net Settlement of Refunds is supported by daily reporting, including the Daily Settlement Report and the Daily Refund Report. On the Daily Settlement Report, refunds appear in the top section of the report and are labeled as “Refund” in Column C. The corresponding negative amount shown in Column N reflects the total refund amount being offset from the payout.
The refund will appear on your settlement report as a negative line item. You may continue to receive settlement reports showing settled activity, but a payout will not be issued until the negative balance has been fully resolved.
If you’d like to take care of the chargeback balance right away so it doesn’t affect future payments, you’re welcome to reimburse AndDone by reaching out to support@anddone.com and let them know you would like a payment link created so you can payback the refunded amount.
What this means for you
Refunds are automatically accounted for and applied to future payouts, so there’s no need to take any additional action on your end.
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