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When a sale occurs, there are two important steps that play into whether you should void or refund a transaction. The first step is that the card is authorized when swiped, dipped, or key entered, and the transaction remains in the terminal until the batch is closed. The second step is the closure of the batch, where transactions are sent out through processing networks to complete the cycle. Voiding a transaction cancels it before it is settled, while refunding a transaction reverses a settled transaction.
