When a school returns funding, here is how to accept a scholarship refund.
- Select Scholarships from the Home page.
- Click Scholarships.
- Select the ID of the desired Scholarship Opportunity.
- In the Recipients table, select the ID of the scholarship award.
- In the Recipient Payments table, click Add Refund for the payment that you want to refund.
- Enter the Refund Date, Refund Method, and Refund Reason, then click Create.
- The system has now created a refund, or open amount equal to the amount refunded. When a refund is created and deposited, the system records everything from reversing the expense, the payable, and the deposit.