This article examines how refunds impact business revenue and employee commissions, offering a detailed overview of the processes and their implications. Regardless of the reason for the refund, MyTime's financial reports will accurately reflect the updated data.
Things to know:
- The ability to refund a ticket is controlled by the "Edit/Refund Closed Tickets" access control
- Refunds will be reflected on the date the refund was processed, rather than the original ticket date. For example, if an item was purchased on November 13th for $100 but refunded on November 23rd, the report will display the original revenue on November 13th and the refund on November 23rd.
- For commission reports, by default, refunds are recorded on the date the refund is processed. However, there is an option to calculate the commission based on the original date the ticket was closed. This functionality is controlled by a hidden setting, which can only be enabled by the MyTime team. To activate this setting, please contact our support team at support@mytime.com. Please note that this change will apply only to appointments created or edited after the setting is activated.
Revenue Impact After Refund
When a partial or full refund is issued on the same day, the revenue will be updated after the refund is processed. The original revenue will be displayed in the appropriate revenue column, while the refunded amount will be displayed in the refund column.
When a partial or full refund is issued after the original ticket closure date, the refunds will be reflected on the date the refund was processed rather than the original ticket date. For example, if a ticket was closed in September for $200 and later edited in November to provide a refund of $50, the following will happen:
Before Refund
After Refund
The revenue for September will remain at $200, while the revenue in November will reflect the refund of $50.
Commission Impact After Refund
Hidden Setting Disabled
Partial Refund On Same Day
When a partial refund is issued on the same day, both revenue and commission are updated immediately after the refund is processed.
Before Refund
After Refund
Partial Refund Days Later
When a partial refund is issued after the original ticket closure date, both revenue and commission for the original date will remain unchanged. The refund amount and corresponding commission deduction will be reflected on the date the partial refund is processed. For example, if a client receives a $20 refund on December 17th for a ticket that was closed on September 3rd, the refunded revenue and the corresponding commission deduction will be recorded on December 17th.
Before Refund
After Refund
The revenue and commission will remain recorded on September 3rd, while the refunded revenue and corresponding commission deduction will be reflected on December 17th.
Full Refund On Same Day
When a full refund is issued on the same day, both revenue and commission will be removed after the refund is processed.
Before Refund
After Refund
Full Refund Days Later
When a full refund is issued after the original ticket closure date, the revenue and commission for the original date will remain unchanged. The refund amount and the corresponding commission deduction will be recorded on the date the refund is processed.
Before Refund
After Refund
The revenue and commission will remain on August 2nd, while the refunded revenue and commission deduction will reflect on December 17th.
Hdden Setting Enabled
Partial Refund On Same Day or Days Later
When a partial refund is issued, whether on the same day or at a later date, both revenue and commission will be updated based on the original ticket closure date. For example, if a client receives a $99 refund on December 17th for a ticket closed on December 11th, the revenue for December 11th will be adjusted to reflect the amount after the refund, and the commission will be recalculated to match the updated revenue.
Before Refund
After Refund
The revenue and commission will be updated to match the new revenue and commission.
Full Refund On Same Day or Days Later
When a full refund is issued, whether on the same day or at a later date, both revenue and commission will be updated based on the original ticket closure date. For example, if a client receives a $60 refund on December 17th for a ticket closed on December 10th, both the revenue and commission for December 10th will be adjusted and removed.
Before Refund
After Refund
The revenue and commission will be updated to match the new revenue and commission.
For more information, contact us at support@mytime.com or (385) 233-6964.
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