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VE Voids & Refunds - What is the Difference?

VE Voids & Refunds - What is the Difference?

Owned by Alison Ainsworth
Last updated: Dec 12, 2024
2 min read

Voids and Refunds often come up when we discuss correcting transactions or returning money back to a customer. While both methods offer similar functionality, there are some limitations and behaviors that change how these function.

  • A void is a modification made to an existing transaction to update or cancel items and funds.

  • A refund is a new transaction created to return items and funds to a customer, based on an original purchase.

Voids vs Refunds.png

To download a reference copy of the Voids vs Refunds infographic →

 

Voids vs Refunds

Both return money to a customer - but which do I choose?

Voids

Refunds

Voids

Refunds

Voids impact ONE transaction

  • One transaction exists with a charge on it, and is then reopened and modified (on the same transaction number).

Refunds impact TWO transactions

  • One transaction exists with a charge, and a new transaction is created with money returned (two transaction numbers).

Voids are performed before the Close Day

  • The numbers are locked once the day has closed, and no further changes should be made.

Refunds can be created on Any Day

  • Refunds are a new transaction and do not change any previous day reconciliation.

Voids are usually to Correct Errors

  • Reopening the transaction is often used to reverse charges, correct items or billing, or remove the transaction.

Refunds are often for Client Satisfaction

  • Refunds help address customer complaints on later days for food or service received.

Voids must use an Existing Transaction

  • A transaction must be known to be reopened - this means having the receipt or transaction #.

Refunds do not need an Existing Transaction

  • While it is best practice for a transition receipt or ID to be known, a refund does not require it.

As always, it is up to the customer to choose the method that best supports their policies!

 

 

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