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AMEX refunds

Heath Wilder
$organization

Just polling the finance boffins.

COVID has been our first big cancellation since we started ticketing in 2017.  A little above a third of our tickets were refunds in late March and April. 

Our accountant was reconciling the refunds and wondered about the AMEX returns until we just received a invoice in the post from AMEX.  Apparently we have to pay AMEX the refund amounts we processed directly.  

I'm assuming AMEX processes refunds to their cardholders and then invoices us (rather than hold on to all the refunds until they get paid by us).

Does anyone else have this rather manual process or is another one of our quirks?

Thanks in advance,

H

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  • $organization
    Hi Heath,

    Not at all unusual. We have the same issue here. Like you we didn't get on to it until we had a call from our Account manager and then realised that it  wasn't automatically debited. You can set up a DD but we prefer to reconcile the balances then pay them manually. 

    Do you have access to the AmEx portal? If not, do ask your Account manager. We are now downloading the refunds weekly from AmEx by Merchant ID and reconciling them to the postings in Tessitura, then paying the balances weekly adding on the charges shown in the portal.

    Best regards, 

    Debbie Mumford
    Senior Accountant
    Glyndebourne Productions Ltd
    Tel 01273 812321 x2363


  • $organization in reply to Debbie Mumford

    Thanks Debbie.  That's great advice.  I'll pass it on.

    Stay safe

    H

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