Refunds

Billing clerks must specify the different types of refunds the school offers so that the correct type and distributions are used when creating refunds in the system. The Refunds section in the Billing year lists all refund types along with their associated General Ledger distributions.

To get started, navigate to Billing in the navigation, select Billing years, and then select Refunds in the side navigation.

To add a new refund type for the billing year:

  1. Select Add refund type.

  2. Under General, choose a Refund type (required). The options originate from the Refunds table settings. You can also enter an optional Description.

  3. Under GL Distributions, provide the Account (required). If Financial Edge NXT is present, this functions as a lookup experience similar to other account fields. You do not need to specify a percentage since only one account can be defined. You can also enter an optional Description.

  4. Select Save.

Use the context menu () next to a refund type to manage it.

  • Edit: Update the description, GL distribution account, or the Return of financial aid setting.

    Note: You cannot edit the Refund type after it has been saved.

  • Delete: Select Delete to remove the refund type. A confirmation dialog appears.

    Note: Refund types cannot be deleted if they are currently in use in the system.

To save time, you can copy refunds from a prior billing year into the current billing year.

  1. Select Copy.

  2. A confirmation modal appears asking if you want to copy all Refund types from the previous billing year.

  3. Select Yes to copy all refund types into the current billing year, or select Cancel to close the modal and make no changes.