Adjustments

An adjustment is a manual transaction entered in FareHarbor, usually to move money to or from a client’s account. Only certain FareHarbor admins can create adjustments. Specific information about Accounting Flows within FareHarbor can be found here.

When do we use adjustments?

• In the case of a won dispute, we create a processible adjustment to the company for the collection amount.

• When a refund (called a transfer reversal in Stripe) is made in the Stripe Dashboard instead of in FareHarbor, we will need to create an adjustment to make sure the client’s FareHarbor account matches what was done in Stripe.

• Whenever there is a discrepancy between a client’s FareHarbor and Stripe account, we need to adjust the amount in the client’s FareHarbor account to match what Stripe has on record. Read more here.

• Various additional circumstances where FareHarbor needs to send money to a client.

Adjustment options

When creating an adjustment, it’s important to know what accounts are being affected and what each option does.

Is processible

Processible adjustments move money in Stripe. An example would be when a client wins a dispute and we move the disputed amount back to their escrow account. In these cases, the funds are processed through Stripe. Most adjustments will be processible.

Processible adjustments are always internal and always payable.

Non-processible

You would only create a non-processible adjustment when there is a discrepancy between the client’s FareHarbor and Stripe accounts and we need to adjust the amount in FareHarbor to match what Stripe has on record. Read more here.

• Is external – External adjustments move money between Stripe and the client’s escrow account in FareHarbor. If you do not check this box, it means that money will only be moved in FareHarbor, between our admin escrow account and the client’s escrow account.

  If you need to move money to or from the client’s escrow account (for example, when transferring funds to escrow for a dispute), use Refunds & Debits instead.

• Is payable – Payable adjustments will actually be paid out to the company and appear on their Payouts report, as opposed to non-payable adjustments, which only affect our (FareHarbor’s) accounting. Most adjustments will be payable.

Creating an adjustment

To create an adjustment:

1. Make sure you’re logged in as a FH admin
2. Go to Reports > Admin Reports > Transactions

3. Click Create an adjustment

   • Choose processor type – this will be Stripe unless dealing with a legacy Balanced account
   • Enter the adjustment amount. Remember to take into account booking and processing fees.
   • Include a note. All adjustments should include a note for tracking purposes. See examples below.
   • Select whether the adjustment is processible or non-processible. If non-processible, mark whether it is external or internal, payable or non-payable.
   • Select whether the funds are being transferred from the company (meaning the funds will be removed from their account) or to the company (meaning they will receive the funds in their next payout)

4. Click Create adjustment

Examples of notes

All adjustments should include a note to track what the adjustment is for. A few examples:

• Money to escrow account for credit card dispute for booking #XXXXXXX

• Reversal of funds for disputed booking #XXXXXXX, dispute refunded through Stripe

• My Kona Adventures – March and April Invoices