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Administrator Guide
Last Updated: 2023-06-23
Steps: Manage Issues with Student Refund Payments

Steps: Manage Issues with Student Refund Payments

Student refund payments sometimes don't reach students, for various reasons.
Examples:
  • A student loses their refund payment check and requests a replacement.
  • A bank rejects an electronic student refund payment because the account number is incorrect.
When these issues happen, Workday enables you to:
  • Escheat old, uncashed, or unclaimed payments.
  • Return payments that return to you due to an incorrect bank account number, closed account, or other bank errors.
  • Stop payments that you need to prevent banks from clearing.
  1. Access the
    Account Transactions
     report on the
    Student Financials
     profile group of the student profile.
  3. (Optional) From the related actions menu of the student refund transaction, consider:
    Related Action Task
    Security
    Use Case
    Payment
    Return
    Security:
    Process: Payment Returns
     domain in the Banking and Settlement functional area.
    You can return payments for student refunds that return to you due to:
    • An incorrect bank account number.
    • A closed account.
    • Other bank errors.
    Student Refund Payment
    Escheat
    Security:
    Process: Student Refund Escheatment
     domain in the Student Financials functional area.
    You can escheat the payments for student refunds that are unclaimed over a length of time, determined by the state or province.
    Student Refund Payment
    Resume
    Security:
    • Process: Settlement
       domain in the Banking and Settlement functional area.
    • Process: Pending Student Refund/Settlement
       domain in the Student Financials functional area.
    You can resume stopped payments for student refunds.
    Student Refund Payment
    Stop
    Security:
    • Process: Settlement
       domain in the Banking and Settlement functional area.
    • Process: Student Refund/Settlement
       domain in the Student Financials functional area.
    You can stop payments for student refunds that are no longer in the possession of the institution.
Workday:
  • Creates journal entries that reverse the original payments.
  • Updates the statuses of the original payments to
    Canceled
    ,
    Escheated
    ,
    Returned
    , or
    Stopped
    .
(Optional) Create another refund for the student to replace the returned or stopped payment.