Reverse Payment vs Refund invoice for Agent Invoices
Overview:
In this article, we will review the difference between the Reverse Payment and Refund Invoice functions found on the Agent Facing Invoice while in the Admin's view.
Reverse Payment function changes the invoice status from “Paid” back to “Open” on both the agent facing side of the system and the Accounting module. This option should be used for failed payments or when an invoice was marked as paid in error. It does not process any bank or credit card movement, it simply corrects the invoice status in the system.
Refund Invoice function reopens the invoice, however, it is integrated with either Payload or Braintree and initiates the actual credit card refund process. Once processed, the agent should see the refund reflected within 2–4 business days, depending on banking processing times.
Additionally, the refunded amount withdrawn from the Brokerage bank account will be seen in Bank Activity as part of the refund settlement. This transaction must also be recorded in Accounting for proper reconciliation.
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