Full or partial. Refunds reverse via the original payment method and typically settle in 5–10 days. Always document the reason and issue a credit note for the AR books.
Short definition. Returning money to a customer for a paid invoice or a portion of it.
Category. Refund is a payments term used by service businesses when billing customers.
How Glo Invoice handles it. Glo Invoice builds refund into the invoice itself, so you don't track it on paper or in a spreadsheet.
Frequently asked questions
What does refund mean?
Full or partial. Refunds reverse via the original payment method and typically settle in 5–10 days. Always document the reason and issue a credit note for the AR books.
Related terms
Credit note — A document issued by a seller that reduces the amount a buyer owes.
Chargeback — A forced refund initiated by the customer's card issuer disputing the charge.
Void invoice — An invoice cancelled by zeroing its total while keeping its record.
