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Reading and reconciling your settlement reports - Virtual Card Network

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Contents 

  1. Understanding your settlement report
  2. Accessing settlement reports
  3. Reading your settlement report
  4. Reconciling your settlements

 

 

Understanding your settlement report

Settlement reports provide a list of fees associated with sales transactions, refunds, and disputes over a daily, weekly, or monthly period. These reports allow you to reconcile virtual card/digital wallet transaction fees with debits made from your bank account. By default, Affirm generates a daily report that captures all of the day's fees and debits, which can be parsed out as needed based on the value in the ‘debit_id’ column.

 

Accessing settlement reports

The merchant portal provides settlement information. To get to it:

  • Sign in to your Merchant Portal
  • On the left-hand sidebar, click “Settlements.”

For information on how to access your settlement report via email or SFTP, please visit our Business Resource Hub.

 

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Reading your settlement report

If you choose to receive your settlement reports via email or by SFTP, you will receive a detailed report file (.csv) by default, and a summary file upon request. The summary report provides totals for a quick snapshot of performance, while the detailed report breaks down each individual event, offering a comprehensive view of all activities.

Opening up a detailed report may resemble the example below:


Example


Columns cont’d.


For your reference, you can download a sample settlement report here.

Standard settlement reports feature a variety of details, with the format column being particularly beneficial for developers seeking greater control over the data. The data will be presented in the report following the specified column order, and opting out of optional columns will not alter this sequence.

If you have additional needs not represented in this report, please contact our Merchant Care team at merchanthelp@affirm.com.

Name Example Format Description
event_date 2023-07-07 String The date that the debit was executed.
loan_creation_date 2023-07-06 String The date that the specific transaction event took place or loan creation date.
merchant_name Solstice String The name of the Affirm account.
merchant_ari AYNHPZKHX9E0VOKX String The unique identifier of the merchant.
city IRVING String Store’s city where the order was made, obtained directly from card rails (externally controlled).
store SOLSTICE.COM String Store’s name where the order was made, obtained directly from card rails (externally controlled).
loan_id FYVU-B1YM String Affirm's persistent transaction identifier. The Loan ID remains even after you refund a charge.
order_id ST142530418 String

Merchant generated identifiers are typically used in their own internal system to track the order. This is an optional value that you provide in the checkout object. 


Note: 

  • If you do not provide Order IDs, this column will be empty.
  • This column will be empty for digital wallet transactions.
event_id HrDyghjAOjRb4u4r String Unique identifier for each record
debit_id XJSLKW83P9QRT5M String Affirm assigns this random string related to a single debit to every charge in a settlement.
checkout_token T4IX5MK5UWXDNIS1 String A token assigned at checkout. 
card_last_four 1392 String Last four digits of the payment instrument (FPAN).
original_loan_amount 123.46 Float Original order total.
transaction_type loan_captured String This is the current state of the charge. Possible values are:
  • loan_captured - Fees debited associated with a captured loan.
  • loan_refunded - Fees deposited associated with a refunded loan.
  • dispute_opened - A positive value to represent refundable fees while the dispute is being resolved.
  • dispute_resolved - A positive or negative value representing refundable fees depending on adjudication outcome.
  • fee_adjustment - A correction to the fee of a previous loan if an incorrect fee was charged.
  • vcn_adjustment - The remaining balance of a virtual card is refunded to the merchant when a customer does not use the entire authorized amount.
mdr_rate .029900 Float Fee (in percentage) for the given record.
mdr_fee -2.14 Float Fee (in dollars) for the given record.
transaction_fee -0.3 Float This is a transaction fee that is charged by Affirm for processing a loan (Not to be confused with “mdr_fee” as this is charged outside of that).
dispute_fee -15.0 Float Flat dispute fee for each disputed transaction where Affirm needs to adjudicate the case and the merchant is at fault.
total_fee -200.17 Float This is the fee Affirm charges for this record and may be positive or negative. When you capture a loan or a dispute is resolved in your favor, refundable fees will be a negative value. If you refund a loan or if a customer opens a dispute, refundable fees are a positive value.
channel

Affirm VCN

Affirm Card

 String Channel where an Affirm checkout was initiated. Possible values are:
  • Affirm VCN - Transactions that happened through Affirm’s virtual card integration or landing page.
  • Apple Pay - Transactions that happened through the Apple Pay wallet.
  • Google Pay - Transactions that happened through the Google Pay wallet.
  • Affirm Card - Transactions that happened through Affirm Card.

 

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Reconciling your settlements

For straightforward reconciliation, you have the option to filter out or hide additional information, allowing you to focus on key fields such as ‘total_fee’ and ‘channel’.

 

Example:

Columns cont'd.

  • Take the sum of all the amounts in the ‘total_fee’ column that have the same ‘debit_id’. This sum should equal the amount of the debit made from your bank account.
  • If you provide Affirm with an Order ID at checkout, we will echo it in your settlement file. Take the sum of all the amounts with the same ‘order_id’ across different reports to calculate the final state of that order. Please note ‘order_id’ is not available for purchases made via wallet channels.
  • Use the ‘channel’ column to note the sales channel of a given transaction. For example, Affirm Direct (POS), Google Pay, Affirm Card, etc.
    • For Digital Wallets and Affirm Card transactions, we suggest using the following fields to support your reconciliation: ‘loan_creation_date’, ‘city’, ‘store’, ‘checkout_token’, ‘card_last_four’, ’original_loan_amount’
      • Note: ‘card_last_four’ displays the FPAN suffix. This corresponds to digital wallet data emitted at time of checkout.
    • Important: Affirm will settle fees associated with Digital Wallets and Affirm Card transactions in this report; total sales on these channels will be settled via your payment processor.




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