Head to Customers >> Customer List >> search the customer and click their name.

In their profile, click the "Payments" tab.

In this example, our customer has an £18 Account Credit as a result of a refund. We want to reverse the Account Credit refund and issue a monetary refund instead.

Scroll to the payment with the refund you want to reverse.

Check the "I confirm that I'd like to reverse this refund and zero out the credit balance of £18.00." box.

The Account Credit refund has now been reversed! You'll be directed automatically to the customer's invoice for that payment, where you'll see that the refund amount is now "0".  If you'd now like to refund them the monetary value, click 'Next' to see the steps.

If you need to action a monetary refund, head back to the customer's profile and go to their "Payments" tab. Scroll to the payment and click "Refund".

Here, make sure to select "The original payment processor or offline/cash when not supported" as the refund method.

 The original payment processor or offline/cash when not supported

And you're done! The customer will receive a monetary refund via the same method they used to pay (card, direct debit, cash, etc.).

How to reverse an Account Credit refund