Select Prepare to Refund on the Bonds tab of the Tenancy.

Enter the amount to be refunded to each party, if the owner has any recent invoices these will show to the right.

The amount to refund the tenant needs to be available in the owners ledger to continue the refund process.  If the owner is sending funds to trust to top up their ledger for the refund, set up an income invoice using a suitable chart of account, like 'contributions from owner' or similar.

If the tenant is receiving a refund, update the Tenancy Invoice Contact with payment details, and then process a Disbursement using a profile that contains Bonds.  The bonds to be refunded show in orange text on the same page as bonds to be lodged.