There are two main parts to processing a refund:
- Record the receipt of the check
- Adjust the Grant or Scholarship record
To Record the receipt of the check you can do one of the following:
- Process a Non Gift in the Gifts Module (most frequently used method)
- Do a simple two line Journal Entry
- Populate the 'Expense/Revenue Account' and 'Cash Account' fields in the Adjustments window when adjusting the Grant.
To adjust the Grant Record:
- Open the Grants Module and go to the Application History Tab
- Open the Grant to be adjusted
- Go to the Adjustments Tab
- Select Grant Adjustments and click Run Process
- Enter the date of the Refund as well as a Status and Reason if you choose.
- Click the Refund radio button
- Check 'complete refund'
- Check 'reinstate grant amount'
- If you are using the third method of depositing your check, enter the Expense and cash accounts into those fields.
- Click Process adjustment
- Review the Adjustments report and click 'Commit Changes'
- Go to Accounts Payable and post the debit memo that has been created. This will reinstate the open item so a new check can be printed.
You can now process a grantee or payee change on the grant or scholarship to change who it is being paid out to.
Note: A single grant or scholarship cannot be split between two grantees. If it a partial refund that is being reissued to a separate grantee, follow the steps in article #100978 "How do I Process a grant refund check?" and then create a new grant or scholarship for the refunded amount.