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Oracle Cloud ERP has this simplied way to Issue and settle Customer Refund.   Similar refund from Employee/ Supplier on settlement / prepayment can directly entered in AP side as Refund type.

Please follow below steps to issue refund.
1> Create a transaction (Invoice).
2> Create a receipt.
3> Apply the Receipt to invoice (So that no outstanding on Invoice Remains)
4> Create a Credit memo.
5> Apply the credit memo to the receipt.
6> Issue refund using below steps.
a> Go to receipt workbench.
b> Go to receipt details section.
c> Click Actions -> More-> Issue Refund.
7> Once refund is issued, a line with application reference number will get generated.

To view AP Invoice to know the payment status of the refund, click on application reference number link which will route to AP Invoice page.

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