What does a Correction transaction do?

A Correction transaction specifically addresses errors that may have occurred during a sale. This type of transaction is implemented to rectify mistakes such as incorrect billing amounts, misapplied payments, or erroneous charges. By conducting a Correction transaction, organizations can ensure that customers receive accurate statements and that their accounts reflect the true financial standing following any discrepancies.

This means that when an error is identified after a sale, the Correction transaction serves as an official method to adjust the transaction record, properly aligning it with the correct information. This plays a critical role in maintaining customer satisfaction and trust, as it allows businesses to proactively resolve issues that could otherwise lead to disputes or negative experiences.