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.
Take note of the Status of the scholarship award. If the scholarship award is closed, you'll need to re-open it in the next step.
- In the Recipient Payments table, click Add Refund for the payment that you want to refund.
If the scholarship is closed and the Refund Scholarship button does not appear, click the Open button in the left-side menu.
- Enter the Refund Date, Refund Method, and Refund Reason, then click Create.
Please note that the original Payment Amount can be found above the Payment Date field.
- 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.
