Insights
Beyond the basics
A useful record identifies the statement, date, amount or wording that needs explanation. A large collection of documents alone may not make the problem clear.
Returning a purchase does not document settlement of its finance
A refund and a loan-account adjustment involve related records that can arrive at different times.
Owning an item and owing money are separate questions
A loan used for a purchase can continue after the item is sold, damaged or no longer needed.
A refund can reduce a balance without matching an instalment
Money applied to an account may affect principal or another component under product rules.