This article covers how voids and refunds work in Gravity Legal. For details on how to run a void or refund, see Running Voids and Refunds.
Firms have two primary ways to return funds to clients in Gravity Legal: A void or a refund. Each method has different properties. A transaction is only eligible for either a void or a refund (never both). Gravity Legal automatically provides either the option of a void or a refund on each transaction.
Void vs. Refund
A Void stops a transaction and prevents Gravity Legal from debiting the client's card or bank account. Voiding a transaction can only happen before the cutoff times (see below). After the cutoff times, the transaction must be refunded.
Note: Although no funds change hands, the authorization initially run on the credit/debit card will still show as a pending transaction for several days on the client's card statement. The exact timeline will depend on that client's card-issuing bank.
A Refund returns the funds to the client once they have already been debited from the client's card or bank account. Refunds can only be run after the cutoff times (see below).
Refund/Void Cutoff Times
Credit/Debit Card: 2330 in the firm's local time. All transactions run before this time are eligible for a void only. After the cutoff, transactions will be run as refunds.
Bank Transfer (ACH): 1500 Pacific Time. All transactions run before this time are eligible for a void only. After the cutoff, transactions will be run as refunds.
Refund Deposit Timelines
Credit/Debit Card: 2-4 business days
Bank Transfer (ACH): 3-4 business days.
Note: The exact timing depends on how the client's deposit financial institution or card-issuing bank handles the availability of funds.
Partial Refunds and Refund Limitations
A firm cannot partially void a transaction. Partial returns can only be run on refunds.
Partial refunds are not available on transactions run by bank transfer (ACH).
Your trust account(s) are protected from all debits. This includes refunds. If you attempt to run a refund out of the trust account, you will encounter a warning letting you know these funds will be removed from the operating account.