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When to use void or refund is a crucial difference to understand. The key factor is whether the card is authorized during the sale. Authorization occurs when a card is swiped, dipped, or keyed in, with approval or decline from the issuing bank. The transaction then awaits batch closure, when it is sent through processing networks for settlement. Voiding is done before batch closure, while refunding is after. Knowing this can help you make the right decision in handling transactions effectively.
