Financials: How to Process Refunds

Modified on Tue, 6 Aug at 10:46 AM

Note: If you already know the Lead/Booking you need to add a refund to, you can skip steps 1 and 2 and proceed directly to step 3

1. Navigate to the Financials Tab

Locate the Financials tab on the left toolbar and click on "Client Invoices - Refunds".
Refunds are searched by setting the Status to "Unpaid" and the Type to "Refund".

You can further refine the list of refunds by using additional fields such as ID, Invoice Date (To/From), Trip Date (To/From), Pay Method, Agent, First Name, and Last Name.

2. Open the Lead/Booking

From the list of refunds, click on the relevant Lead/Booking to open it.
Navigate to the Financials tab within the opened Lead/Booking.

3. Add a New Negative NETT Cost using the Nett Cost Calculator

Instead of editing an existing cost, add a new negative NETT cost using the Nett Cost Calculator. This approach helps in maintaining the integrity of the original cost entry while clearly identifying the refund as a separate entry.
The negative NETT amount should reflect the amount by which your bills were reduced. For instance, if your bills were reduced by $100, you would enter -$100 as the NETT cost. If you are not receiving any money back from the supplier, please leave the NETT Cost value at $0.
The negative Rack amount should reflect the amount by which client payments will be reduced. For example, if client payments are reduced by $100, you would enter -$100 as the Rack cost.

Example:

NETT Cost: -$100 (The amount your bills were reduced by)
Rack Cost: -$100 (The amount your client payments will be reduced by)
Notes: Refund due to Cancelled Service

4. Edit Supplier Bills

If you have already paid the Supplier Bill, create a new negative bill to reflect the refund you will receive.
- For instance, create a new supplier bill with a -$100 amount and a bill type of "Refund".
If you have NOT yet paid the bill, simply update the amount on the existing bill.
- For example, reduce one of the supplier bills by $100.

5. Edit Client Payments

If the client has already made the final payment, create a new negative payment to reflect the refund you will issue.
- For instance, create a new payment with a -$100 amount and a payment type of "Refund".
If the client has NOT yet made the final payment, simply reduce the amount of the final payment.
- In this case, reduce the final payment by $100.

6. Process the Refund

While the above steps adjust the records in Oasis, you still need to manually process the refund through your payment platform (e.g., Stripe, Flywire).

By following these steps, you can accurately record and manage refunds in Oasis, ensuring clear and precise financial records.

And that's how to Process a Refund on the Oasis Travel Platform! We hope you found this guide helpful. If you need additional help or want to share your thoughts, reach out at [email protected]. We love hearing from you and are always here to help.

Financials: How to Process Refunds

Note: If you already know the Lead/Booking you need to add a refund to, you can skip steps 1 and 2 and proceed directly to step 3

1. Navigate to the Financials Tab

Locate the Financials tab on the left toolbar and click on "Client Invoices - Refunds".

Refunds are searched by setting the Status to "Unpaid" and the Type to "Refund".

You can further refine the list of refunds by using additional fields such as ID, Invoice Date (To/From), Trip Date (To/From), Pay Method, Agent, First Name, and Last Name.

2. Open the Lead/Booking

From the list of refunds, click on the relevant Lead/Booking to open it.

Navigate to the Financials tab within the opened Lead/Booking.

3. Add a New Negative NETT Cost using the Nett Cost Calculator

Instead of editing an existing cost, add a new negative NETT cost using the Nett Cost Calculator. This approach helps in maintaining the integrity of the original cost entry while clearly identifying the refund as a separate entry.

The negative NETT amount should reflect the amount by which your bills were reduced. For instance, if your bills were reduced by $100, you would enter -$100 as the NETT cost. If you are not receiving any money back from the supplier, please leave the NETT Cost value at $0.

The negative Rack amount should reflect the amount by which client payments will be reduced. For example, if client payments are reduced by $100, you would enter -$100 as the Rack cost.

Example:

NETT Cost: -$100 (The amount your bills were reduced by)

Rack Cost: -$100 (The amount your client payments will be reduced by)

Notes: Refund due to Cancelled Service

4. Edit Supplier Bills

If you have already paid the Supplier Bill, create a new negative bill to reflect the refund you will receive.

For instance, create a new supplier bill with a -$100 amount and a bill type of "Refund".

If you have NOT yet paid the bill, simply update the amount on the existing bill.

For example, reduce one of the supplier bills by $100.

5. Edit Client Payments

If the client has already made the final payment, create a new negative payment to reflect the refund you will issue.

For instance, create a new payment with a -$100 amount and a payment type of "Refund".

If the client has NOT yet made the final payment, simply reduce the amount of the final payment.

In this case, reduce the final payment by $100.

6. Process the Refund

While the above steps adjust the records in Oasis, you still need to manually process the refund through your payment platform (e.g., Stripe, Flywire).

By following these steps, you can accurately record and manage refunds in Oasis, ensuring clear and precise financial records.

And that's how to Process a Refund on the Oasis Travel Platform! We hope you found this guide helpful. If you need additional help or want to share your thoughts, reach out at [email protected]. We love hearing from you and are always here to help.