Overview

Refund is a type of financial records representing cash returns from payment processor to customer for a processed payment.

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Cash Refund vs Credit Refund

On Leapfin Platform, Refund records refer to cash refund only. When payments are refunded as credits, Leapfin creates Credit records with type as "issuance".

Refund are commonly initiated against a particular payment. In some cases (not always), the refund can be attributed towards one or more particular line items, taxes or discounts. When such attribution is available, Leapfin recommends to include a link from the Refund record to each associated record, so that accounting schedules on those records can be adjusted accordingly.

Creating a Refund

The following fields are required :

• objectType: type of financial record. For Refund, the value is "refund".
• id: unique identifier of this record. This is an external id received by Leapfin.
• amount: amount of the refund. The amount should be non-negative.
• currencyCode: 3-digit ISO code of amount field, e.g. “USD”, "GBP", etc. This is the primary currency of this record
• status: current status of the payment. Acceptable values are:
  • "succeeded": the refund is successfully processed.
  • "failed": the refund failed during processing.
  • "pending": the refund has been initiated but still being processed.
• date: the date-time of when this refund is created by payment processor.

The following fields are optional but are commonly needed for creating journal entries.

• description: general description of the refund
• exchangeRates: a list of exchange rates used to calculate currency conversions
  • currencyCode: 3-digit ISO code, e.g. “USD”, "GBP", etc. This is the target currency of this record
  • rate: conversion rate from primary currency to target currency. i.e. amount in primary currency * rate = converted amount in target currency.
• links: directional relationships pointing from this Event to other financial records. Refund is commonly linked to Payment.
  • objectType: type of the target financial record, e.g. "payment"
  • id: the unique identifier of the target financial record
• customFields: additional fields (i.e. key-value pairs) related to this record

Sample Data

{
    "objectType": "refund",
    "id": "refund_001",
    "amount": 538.29,
    "currencyCode": "USD",
    "status": "succeeded",
    "description": "a sample refund object",
    "date": "2021-02-17T20:00:01",
    "exchangeRates": [
      {
        "currencyCode": "EUR",
        "rate": 0.84
      },
      {
        "currencyCode": "GBP",
        "rate": 0.73
      }
    ],
    "links": [
      {
        "objectType": "payment",
        "id": "payment_001"
      }
    ],
    "customFields": {
      "field1": "value1",
      "field2": "value2"
    }
}

Query a Refund

Event records are stored in VW_FT_PAYMENT table. It can be accessed via Snowflake Data Sharing and Access.