Refunds
Refunds records money coming back to you — earnest money returned after a tender is decided, security deposits released at contract end, and bill deductions recovered. This is the screen that turns money you had written off in your head into money you actually collect.
Where to find it
Go to TenderPro > Refunds.
Refund types
| Type | What is coming back |
|---|---|
| EMD/SD Refund | An earnest money or security deposit released by the client. |
| Invoice Refund | A bill deduction recovered against an invoice. |
What the list shows
| Column | Description |
|---|---|
| Project | The contract. |
| Customer | Who released the money. |
| Type | EMD/SD or invoice refund. |
| Invoice/EMD/SD | What the refund is against. |
| Date | When it was received. |
| Amount | How much. |
| Bank / Bank Account | Where it arrived. All Bank Accounts shows every one. |
| Custom Ref | The client's own release reference. |
Recording a refund is what closes the loop. It moves the deposit off the EMD/SD register and the deduction off Bill Deduction — leave it out and both keep showing money as still held long after it has come back.
Interest on refunds
Where a client pays interest on a released deposit, it posts to the EMD/SD Refunded Interest GL account set in Settings rather than reducing the deposit itself.
When a refund cannot be deleted
A refund that has already been allocated or posted cannot simply be removed. Correct it rather than deleting, so the deposit and deduction registers stay consistent with the ledger.
Related pages
- EMD/SD — deposits awaiting release
- Bill Deduction — deductions awaiting recovery
- Settings — the interest account