I'm Miles from the Social Care team at Shopify. Welcome to the Shopify Community!
Firstly, let's make sure orders are actually being refunded. Jump into one of the orders you're concerned about, and make sure the timeline shows a refund has been processed (or sent). If it has, it will display the amount refunded, and if the refund bounces back, that will also be displayed. Keep in mind, cancelling/restocking an order does not automatically refund. On the top of the order screen, click "Refund", and on the right-hand side, it will show the amount eligible to be refunded. If there is an amount listed there, then the order has not been refunded.
In regards to your payouts, there's 2 types of payout notifications; intent and action. The first notification should display as "$xx.xx will be added to your <date> payout", and the most recent one should say "$xx.xx WAS added to your <date> payout". If you refund an order after the payout has been paid, we'll either deduct it from your next payout, or request the funds back, which will be noted in your timeline.
To summarise; before cancelling an order, make sure you've refunded it first, then you can proceed to cancelling the order if it doesn't happen automatically. Check the timeline to make sure a refund was processed, and if it was and it was rejected, have your customer chat to their bank. You can find out more about our refund process in this guide: https://bit.ly/2Gr7gk5.
You mentioned you're refunding a lot of orders at the moment. Was there a reason for this? If you're low on stock, make sure you update your inventory so out of stock items cannot be sold. You can do this by going to Products, and selecting the products that are out of stock. You can also bulk edit all your products as well.
If you have any questions at all, please let me know. Thanks!
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