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summary: Azure Cost Management and Billing helps you understand Azure billing, manage your account and subscriptions, monitor and control Azure spending and optimize resource use. Learn how to analyze costs, create and manage budgets, export data, and review and act on recommendations.
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summary: Azure Cost Management and Billing help you understand Azure billing, manage your account and subscriptions, monitor and control Azure spending and optimize resource use. Learn how to analyze costs, create and manage budgets, export data, and review and act on recommendations.
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metadata:
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ms.service: cost-management-billing
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description: Azure Cost Management and Billing helps you understand Azure billing, manage your account and subscriptions, monitor and control Azure spending and optimize resource use. Learn how to analyze costs, create and manage budgets, export data, and review and act on recommendations.
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description: Azure Cost Management and Billing help you understand Azure billing, manage your account and subscriptions, monitor and control Azure spending and optimize resource use. Learn how to analyze costs, create and manage budgets, export data, and review and act on recommendations.
Copy file name to clipboardExpand all lines: articles/cost-management-billing/reservations/exchange-and-refund-azure-reservations.md
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@@ -8,7 +8,7 @@ ms.devlang: na
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ms.topic: conceptual
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ms.tgt_pltfrm: na
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ms.workload: na
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ms.date: 01/21/2020
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ms.date: 01/24/2020
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ms.author: banders
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---
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@@ -24,14 +24,14 @@ You must have owner access on the Reservation Order to exchange or refund an exi
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You can exchange your reservation with three quick steps in the [Azure portal](https://portal.azure.com/#blade/Microsoft_Azure_Reservations/ReservationsBrowseBlade).
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1. Select the reservations that you want to refund and click**Exchange**.
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1. Select the reservations that you want to refund and select**Exchange**.
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2. Select the VM product that you want to purchase and type a quantity. Make sure that the new purchase total is more than the return total. [Determine the right size before you purchase](../../virtual-machines/windows/prepay-reserved-vm-instances.md#determine-the-right-vm-size-before-you-buy).
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3. Review and complete the transaction.
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To refund a reservation, go to **Reservation Details** and click**Refund**.
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To refund a reservation, go to **Reservation Details** and select**Refund**.
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## How transactions are processed
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- Only reservation owners can process an exchange. [Learn how to Add or change users who can manage a reservation](manage-reserved-vm-instance.md#add-or-change-users-who-can-manage-a-reservation).
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- An exchange is processed as a refund and repurchase – different transactions are created for the cancellation and the new purchase. The prorated reservation amount is refunded for the reservations that you trade-in. You're charged fully for the new purchase. The prorated reservation amount is the daily prorated residual value of the reservation being returned.
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- You can exchange or refund reservations even if the enterprise agreement used to purchase the reservation is expired and was renewed as a new agreement.
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- You can change any reservation property such as size, region, quantity, and term with an exchange.
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- You can change a reservation property such as family, series, version, SKU, region, quantity, and term with an exchange.
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- The new purchase total should equal or be greater than the returned amount.
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- The new reservation purchased as part of exchange has a new term starting from the time of exchange.
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- There's no penalty or annual limits for exchanges.
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## Exchange non-premium storage for premium storage
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You can exchange a reservation purchased for a VM size that doesn't support premium storage to a corresponding VM size that does. For example, an _F1_ for an _F1s_. To make the exchange, go to Reservation Details and click**Exchange**. The exchange doesn't reset the term of the reserved instance or create a new transaction.
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You can exchange a reservation purchased for a VM size that doesn't support premium storage to a corresponding VM size that does. For example, an _F1_ for an _F1s_. To make the exchange, go to Reservation Details and select**Exchange**. The exchange doesn't reset the term of the reserved instance or create a new transaction.
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