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Understanding the Difference Between Credits and Refunds in Your Account

Credits and refunds affect your account in different ways. A credit is applied to your account to reduce the amount due on an invoice—it is not a cash payout. A refund is a cash return to you. Credits will appear on your statement as a reduction in the total payable; if you need help interpreting a specific transaction, contact our support team.

Summary: This article clarifies the distinction between credits and refunds as they relate to account balances.

Understanding Credits vs. Refunds

When reviewing your account statements, it's important to understand the difference between a credit and a refund:

  • Credit: A credit is an amount applied to your account that reduces the total of your invoice. It does not involve a cash return. Instead, it lowers the balance you owe on your account. For example, if you have a credit of R1900.00 applied to your invoice, this amount will be deducted from your total balance due.

  • Refund: A refund, on the other hand, involves returning cash to you. This is not the same as a credit. If you are expecting a cash return, that would be classified as a refund, which is not applicable in the case of credits.

Application of Credits

Credits are reflected directly on your account statement and will adjust the amount you owe. For instance, if a credit has been applied, it will show on your statement as a reduction in the total amount payable.

Conclusion

In summary, credits reduce your outstanding balance on invoices but do not result in cash being returned to you. If you have further questions about your account or need clarification on specific transactions, please reach out to our support team for assistance.