Refunds with Stripe

Learn how to process a refund with Stripe and LMN.

In this article:

Process a Refund with Stripe

🎥 Video: Payouts & Reconciliation with Stripe

Negative Account Debit Process

Process a Refund with Stripe

1. To find a payment you need to refund, navigate to Payments > Payments in LMN. 
   💡Utilize the Search bar for the payment name or job name or use the filters
   
2. Once you have found the payment you need to refund, click into it. 
3. Click the Refund Payment button
   ⚠️ Note that partial refunds are unavailable in LMN and you will have to refund the whole amount from the invoice. 
   
4. The record of the refund will appear back on your Payments list with a payment type called Refund and a negative balance in red.
   ⚠️ This cannot be exported to QuickBooks and will remain here for your records. 
   
5. Back on the original invoice, the refund will be recorded on the bottom and the invoice balance restored. 
6. You can now edit this invoice or click Resend Invoice for payment.
   
    

🎥 Video: Payouts & Reconciliation with Stripe

Watch the Payouts & Reconciliation with Stripe video tutorial HERE

Negative Account Debit Process

If you need to issue a refund, but do not have enough funds in your Stripe Account Balance to cover the total, Stripe will wait to pull funds from your bank account if it knows you have incoming payouts that could cover it instead. 

If Stripe cannot identify any incoming payouts, and your Stripe account balance does not have enough funds to cover the issued refund, Stripe will pull the funds directly from your bank account, and the Total Balance in LMN will appear in the negative.

Example:
You refund $550, so your Stripe balance is - $550.
Your next payout is $1,000, which first covers the - $550.
That leaves $450, so your new Stripe balance is $450, and your next payout amount will be $450.

A successful debit withdrawal will reflect like this in the Payout tab in LMN

Click into it to see more details:

 

Need more help?  Contact our Support Team by email at lmn-support@granum.com, through Live Chat, or by phone at (888) 347-9864

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