New release | Estimated Read time – 1:26
There may come a time when you need to issue a refund. Having to return funds is likely not one of your favourite things to do. Money that once came in now needs to go back to where it came from and it can be difficult to keep track of your finances when taxes and other factors come into play. Race Roster’s refund tool has been enhanced, allowing you to issue refunds with complete confidence and keep track of every cent.
1. Updated design for maximum visibility
The design of the refund process got a complete refresh, giving the interface a clean and modern look! With its updated mobile-friendly design, you can issue a refund from your phone, conveniently allowing you to get your refunds done anytime, anywhere. Previously, the refund summary displayed the following three totals:
- Amount to be refunded
- Fees to be refunded
- Total to be refunded
Now, you have even more insight into what is being refunded. You can see a breakdown of all items that are being refunded, as well as the amount of any associated fees such as line items, processing fees, and taxes.
2. Three new partial refund options
You may only need to refund a portion of something, rather than the entire amount. Our partial refund capabilities previously allowed you to issue a partial refund on products and other registration items. You now also have the option to issue a partial refund on the following three items:
- The processing fee
- A donation
- Additional charges
3. Refundable tax
For any events utilizing the new tax settings, taxes are now auto calculated and included on refunds. When issuing a refund, the tax will be automatically calculated and returned based on your selection. If you choose a total refund, 100% of the tax collected will be returned. If you choose a partial refund, the portion you choose to refund will be the same portion of tax that is refunded.
For example, if the participant was charged $5.10 for a product and a tax fee of $0.66, and you issued a 50% refund, the participant would be refunded $2.55 of the product and $0.33 of the additional tax.
4. Refund report
As always, you can see a detailed refund report to keep track of all issued refunds. The refund report can be downloaded and the detailed receipt can be viewed right within your dashboard!