Sometimes you may need to enter an expense that credits back the company. For example, you may have purchased an item, received a reimbursement for it, and later needed to return it. This could also happen if an earlier expense is pro-rated or partially refunded. You can do so by creating an expense "Refund to Company".
Starting on the Expenses page, choose "Add Expense". This will either be located in the center of the screen if you have no active expenses, or in the upper righthand corner if you do have active expenses.
When creating a new refund, ensure you choose the original payment method from the "Payment Method" dropdown menu.
If your expense report has a mix of reimbursable items and refund items, you may notice that the refund to the company is deducted from the reimbursement you would receive:
Watch this quick walkthrough to learn how to submit your refund as a negative transaction on a corporate card:
Note: Admins may consider creating an expense category for users to choose to help identify accidental personal charges on a corporate card. Users should not use 'Refund to Company' if there was an accidental personal charge on a corporate card.
Frequently Asked Questions
If I accidentally use my company credit card for a purchase and then have the merchant process a return, can I use "Refund to Company" to report the return?
It is quite likely that is how your company will want you to handle a transaction like that. You may consult your manager or a member of your finance team for guidance.
Do I need to upload a receipt when I create a "Refund to Company" expense?
While receipts are not required, they are optional and you can upload one. We recommend that if you are unsure you may consult with your manager or a member of your company's finance team. Note: OCR (optical character recognition) will not scan images or receipts for refunds, please enter the information manually to ensure accuracy.
If I create a new expense, can I change it to a refund later?
Expenses cannot be changed to refunds, and refunds cannot be changed to expenses. If you create an expense by mistake, you can delete it and then create a refund.
For Admins and Finance users:
When the employee owes money, how does TravelBank process the refund?
Return of funds are not facilitated by TravelBank expense management, and must be handled outside TravelBank’s system.
How are "Refunds to Company" synced over to the General Ledger?
Refunds or credits are always synced as credit Journal Entries. Note: this is only for NetSuite and QBO integrations. Please see the example below:
Created: 16Mar2022 12.04
Updated: 30Mar2022 14.25
Updated: 31Mar2022 16.27