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When deciding between void and refund, it is crucial to understand the difference. An authorization is sent to the issuing bank when a card is used for a transaction, which determines if it is approved. The transaction remains in the system until the batch is closed, which should be done daily. Closing the batch completes the transaction cycle through the processing networks. Voiding cancels the transaction before it is settled, while refunding reverses a settled transaction. Remember, void before the batch is closed, and refund after.