Reverse CRM Payment

When a scholarship is initially approved, create the associated payment(s) in akoyaGO CRM.  If future payment(s) have already been sent to Business Central and are pending as payables, you’ll need to reverse those payments. Follow the instructions in the Knowledge Article titled “Request Payment Voids, Adjustments, Refunds.” Select the appropriate Reversal Type—Void, Adjust, or Refund—based on whether the student received the original check.  If the future payment(s) were not accrued and have not been sent to Business Central (i.e., they do not exist in your ledger and the Payment Status is blank), simply deactivate the future payment(s).

     Amend Grant Amount

After you have reversed any payments, add a Grant Amendment amount on the Request. The Grant Amendment field should be utilized if funds are returned by entering a negative amount, or if you are providing additional funds by entering a positive amount. Do not adjust the Original Grant Amount.

Note that the Grant Amount is calculated by taking the Original Grant + Grant Amendment. This way, you can track the full picture: the amount originally approved is in the Original Grant field, the amount adjusted is in the Grant Amendment field, and the Grant Amount is the amount the applicant received in the end (and will reflect the Grant Amendment).
 
In the example below, the applicant was originally awarded $1,500. After the first payment of $500, the remaining amount of $1,000 was refunded.