Processing refunds in RakefetOnline is quick and straightforward, helping your organization maintain accurate financial records while ensuring transparency for your members and donors.
How to Process a Refund in RakefetOnline
To refund a payment, follow these steps:
- Go to Payments and click on the submenu Refunds and Reversals
- Select the family from the Families dropdown
- In the Type dropdown, choose Refund
- Enter the Amount (and Units for tickets or seats if applicable)
- Select the Payment Type for the refund (Check, Cash, Card, etc.)
- In the Account dropdown, select the account to apply the refund
- Choose Payment or Donation from the Transaction Type dropdown
- Enter the date the refund occurred
- Add a Memo if needed for additional details
- Enter a check number if applicable
- Click Post Without Printing to complete the refund or Print a refund check
What Happens After Posting a Refund?
Once the refund is posted:
- It appears as an expense in Bank Reconciliation
- It is recorded as negative income on the Family Account page
- It is reflected in Receivable Reporting
This ensures your financial records remain balanced, accurate, and easy to track across your system.
