January 27th, 2023
By: High Touch Technologies
With cynergi|suite, issuing refunds for receivables, also known as customer credits, is as easy as taking a payment.
With a few mouse clicks, you can review a customer’s account information, enter an amount, and return your customer’s receivable balance to their on-file credit card or as a cash transaction. Upon completing the transaction, cynergi|suite automatically creates a receipt record to note that a refund was processed for the customer’s account.
In this blog, we’ll teach you everything you need to know about refunding receivables in cynergi|suite, including what a receivable is, common reasons why receivables are refunded, and how to process a refund.
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In cynergi|suite, a receivable is a credit that’s been applied to a customer’s account.
Typical scenarios where customers may earn a receivable include overpaying on an account, a promotional deal offered by a store, or a credit that’s been awarded to the customer by the store.
There are a few common reasons that stores might need to refund a receivable, including:
To refund a receivable, do the following:
cynergi|suite gives your RTO business the tools you need to create a better shopping experience for your customers.
If you have any questions about refunding receivables, contact our Support team or reach out to your dedicated Account Executive.
If this is your first time hearing about cynergi|suite, and you want to learn more, simply click here to schedule a demo.