What is the difference between issuing a refund or giving an account credit?

REFUNDACCOUNT CREDIT
  • A refund is the repayment of a sum of money to a customer.
  • Cash flow is negatively impacted.
  • An account credit is a transaction that is posted to a family's account to reduce their balance, or to be used towards future fees or purchases.
  • No money is involved, cash flow is not impacted.
Learn more about refunds
Learn more about account credits
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