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When should you void and when should you refund a transaction? The key difference lies in the timing of the transaction cycle. When a card is authorized at the point of sale, it stays in the system until the batch is closed, which should be done daily. Closing the batch sends the transactions out for processing, completing the cycle. Voiding cancels the transaction before it is settled, while refunding reverses the transaction after settlement. Understanding this timing is crucial in deciding whether to void or refund a transaction.
