Purpose

To provide institutions with the ability to create institution-specific Refund Payment Types.

SubSystem

Finance

This form provides institutions with the ability to create institution-specific Refund Payment Types. A Refund Payment Type defines the manner in which a refund will be paid to a student.

There are four existing Refund Payment Types (as listed below), however, institutions can create their own (additional) institution-defined Refund Payment Types via this form:

• ON-HOLD
• ELECTRONIC
• WIRE
• CHEQUE

Refund Payment Types created in this form are used in the Refund process (FINJ6430) and Maintain Refunds (FINF6420) where they are available for selection from the LOV for the Payment Type field and SET Payment (Inc) button when approving Refund records.

This form is accessed via the main menu.

Refund Payment Type block:

• Refund Payment Type
• Description

Rule/Notes:

Once a Refund Payment Type record is created, the code cannot be modified, however, the Description can be updated, if required.

A Refund Payment Type record cannot be deleted.

To Create a New Institution-Defined Refund Payment Type:

1. Enter the a code for the Refund Payment Type in the 'Refund Payment Type' field.

2. Enter a description of the Refund Payment Type in the Description field.

Rule/Notes:

Once saved, the Refund Payment Type is available for selection in FINF6420 from the LOV for the Payment Type field and SET Payment (Inc).