Every Vend customer using Xero will need to set up a refund account in Xero.
Typically, when you process a refund, Vend will take the amount refunded off the total amount collected using that payment type that day. For example, if you took $3000 in cash payments, and issued $50 of cash refunds, Vend will send $2950 of cash to Xero as the total.
Sometimes, the amount you need to refund might be MORE than the amount taken that day. For example, you took $560 of payments, but a customer needed an $800 cash refund. Vend cannot deduct $240 from the cash payments account. Instead, Vend will send $0 for the cash payments total for the day, and -$240 to the refunds account so that you can keep track of this.
To set up a refund account in Xero, follow the steps below:
- Open your Chart of Accounts.
- Set up a current asset account.
- Name this account Refunds.
- Tick the Enable payments box.
- Save your account.
For more information on the Vend-Xero Integration, check out these articles.