CREDIT CARD DISPUTE/CHARGEBACK
We sell by credit card , at time the credit card holder will dispute these charges
when they do they ask their bank to " charge back " and basically take the money back out of our account
this will show on bank reconcile like this
when we see this we will open up a ticket
some days later we will receive the charge back letter from the bank
this will have the details of the actual transaction and they will ask to submit details (sign receipt/sales invoice) to confirm purchase
once we know this
WE WANT TO ACT QUICKLY
ACTION STEPS
--we find out the sale details i.e pinnacle invoice number
-- Start a " working doc " for the transaction - we do this as the issue will become complex and link that working doc to the sale invoice in pinnacle and the ticket
--we contact jj sales person to see if they are aware of any issues ( do this before we contact the customer so we get the " HEADS UP." if there is any for this deal ,once we know this , then
--we contact the customer to see if they are aware of any issue or reason for this , we may confirm the details provided were correct
If Purchased under company name we will mark the company as CHK until we can sort this out
Add details into chargeback table so we can track and see history
To reconcile in Xero dashboard:
Click on ADD DETAILS
Fill in details
TO: CHARGEBACK
REFERENCE: CC FRAUD #X $X INV X
ACCOUNT: 11300 INVENTORY
TAX RATE: GST ON EXPENSES
In Pinnacle we have to balance this as well.
In cases that there's no way for us to chase payments from the customer, we credit the invoice in pinnacle. (select OTHER as reason and make sure the amount matches the invoice amount)
Once the credit is showing under unallocated payments, process REFUND in pinnacle as well and select BANK TRANSFER as this appears in XERO under CHEQUE account.
Once the credit is showing under unallocated payments, process REFUND in pinnacle as well and select BANK TRANSFER as this appears in XERO under CHEQUE account.
If we can still chase payment from the customer, (refer to debt collector etc) do not credit the invoice yet. Instead, wait til we have final answer if we are getting payment or not.
If in any case, we receive repayments, we will receive this payment in banking as per normal but to allocate, we have to create ADJUSTMENT REFUND in pinnacle for the same invoice amount, so we can allocate.
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