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Refunds to Credit Card Transactions

Directive Statement

Credit card refunds that need to be generated to IPAY/CASHNet transactions can be requested with Treasury Management’s Payment Card Operations.

Reason for Directive

To ensure appropriate segregation of duties and accountability.

Who Must Comply?

All University departments whose personnel store, process or transmit cardholder information. This also applies to units that outsource the processing of payment card information to third party vendors.

Procedures

Refund requests are generally executed by Payment Card Operations within a 48 hour time frame upon receipt. A merchant department’s refund request requires signatures of two parties as follows:

Document Preparer: The person who completes the form

Department Approver: The person who can authorize expenditures from the departmental account

  1. Complete the eCommerce Credit Card Refund Form (leave the Refund Batch number blank)
  2. Submit to Payment Card Operations, Criser Hall S-113, PO Box 112008 or e-mail to treasury-creditcards@ad.ufl.edu
  3. Payment Card Operations will process the e-commerce refund to the card account of the original transaction and adjust the myUFL General Ledger
  4. Upon receipt of a Payment Card Operations refund notification, your department must send a notice to your customer(s) informing them that the refund has been issued

Definitions

General Ledger

An account book of final entry.  In an accounting system, the general ledger is the place in the system where financial information resides. [Back to Top]

IPAY

The preferred e-Commerce implementation is through the University web payment gateway (IPAY), together with CASHNet’s eMarket storefront or checkout.  The department is responsible for developing an interface to the IPAY gateway based on standards specified by the Enterprise Systems UFIT liaison of the E-Commerce Committee.  Any exception to this practice must be approved by the University Controller’s Office. [Back to Top]

Last Reviewed

05/01/2020: reviewed content

Training

TRM125 – Payment Card Security Awareness Training

Treasury Management/Payment Card Operations: (352) 392-9057

Treasury-creditcards@ad.ufl.edu

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