You can use this two-action process when you need to refund ParentPay before or after you refund back to a credit or debit card because you owe or will owe ParentPay more than ParentPay will credit to your bank account.
NB. Please be aware that the following could impact more than one financial year - you will need to be mindful of this at a subsequent year-end with negative balances in a ParentPay Settlement Bank Account
When you refund ParentPay with a cheque or direct debit (BACS) then this action is a reversal of what you normally do in Bank & Cash > Transfer between Bank Accounts - refunded ePayment transactions have imported into Tali via the Settlement Bank Account as refunded ePayments, cancelling out the original transaction/s.
Because this is an exception to the normal process in Tali there are two actions to perform and you must do both actions (as outlined below) to ensure that Tali stays in balance for your year-end processes.
We suggest that the first time you follow the methods described below you create a new User Account to record these transactions against, (unless you are splitting your refund back to ParentPay across different Account codes) our suggestion is that this is called;
Code: PPRFND (first check to make sure that you do not already have this set up or archived)
Account Name: ParentPay Refunds due to excess refunds over income
We would also advise you to make a note of these adjustment transactions separately as you may need to account for them at year-end audit.
You need to Record Expenditure - write a physical cheque/process direct debit (BACS) for the requested amount that ParentPay has requested or the school needs to refund back to card/s. Record this expenditure in Tali as either a cheque payment or direct debit against the PPFRND User Account code and the appropriate Bank Account the funds are to be debited from e.g. Current Bank Account from the bank dropdown (not the Settlement Bank Account).
Please use an appropriate description for the transaction and date. Make sure that if you are writing a cheque that the correct cheque number is in the cheque number box. Use ParentPay Ltd as the Payee in the Names section before ‘Saving’ the transaction.
This action records the cheque or direct debit against your chosen Bank Account (not the Settlement Bank Account) so you can reconcile the processed payment to ParentPay in the normal way in Bank & Cash > Reconcile a Bank Statement.
This second action is the correction of the ParentPay Settlement Bank Account;
You need to Enter Income - enter a Direct Credit for the requested amount that ParentPay has requested or the school needs to refund back to card/s. Enter this Income amount as a Direct Credit against the PPFRND account code (or the Account codes you have used above) and use the bank dropdown to choose the ParentPay Settlement Bank Account with the same date and description as used above.
Following the above two actions will ensure that the refund is recorded successfully in Tali.