Settlement memos are created by settlement automation and support the settlement with the customer. When a settlement memo has been created it can be completed directly. Completing a settlement memo can be done at any time and doesn't update the status of the return.
Main menu
The settlement memo overview can be accessed from the main menu. The menu option is available when the settlement memo feature is activated in the data access role settings of a user.
Settlement memo overview
In the merchant dashboard, a settlement memo overview includes all memos that have been created and that need to be completed.
Settlement memo
By clicking the settle button, the memo appears and shows the settlement proposal. Depending on the trigger to create the memo, the settlement proposal appears under:
Authorization: the confirmed return value has been calculated with the authorized product quantity. The initial settlement value is equal to the confirmed return value.
Processing: the confirmed return value has been calculated with the received product quantity. The initial settlement value is equal to the confirmed return value.
The initial settlement value can be updated by altering the settle quantity for a product:
The final settlement value is calculated as the initial settlement value minus customer costs plus order shipping costs. The final settlement value can be updated by:
altering the customer costs;
altering the order shipping costs.
The settlement memo can be updated and saved before completing it. After completing, the next settlement memo appears.
When the settlement memo has been completed, the settled indicator in the return is automatically updated.
Settlement memo with instant refund
When you configure a payment provider to offer instant refunds and customers utilise this option, a settlement memo is generated for the corresponding returns. The settlement memo contains additional information regarding the settlement of the instant refund, including:
External refund method: Customers can select the external refund method during the instant refund process.
External refund status: This status reflects the current status within the Reveni system. If you change the status (reject or approve) of the return in your Reveni account, we will update this status accordingly.
Please note that you are unable to modify the amounts since the instant refund was processed through our partner Reveni.
To finalise the process, it is essential to settle the return. This ensures that all necessary actions and steps have been taken to fully complete the return. Please ensure that the return is completed to successfully conclude the transaction.
Return details
The details of the settlement are visible in the return details in 2 ways:
Financial overview in the return header
Settlement memo detail page
