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Settlement Reports

  • Updated

Contents

  1. Report Delivery Schedule
  2. Accessing Your Reports
  3. How to Read Your Reports
  4. How to Reconcile Your Settlements

Settlement reports provide a list of sales transactions, refunds, disputes, and fee adjustments over a daily, weekly, or monthly period. There is one settlement report for each deposit settled to your bank account. In some cases, there may be more than one settlement report per day. These reports allow you to reconcile your transactions with the deposits made into your bank account. 

Learn how to schedule settlement reports here.

 

 

Report Delivery Schedule

There are daily, weekly, and monthly settlement reports. Our settlement process is based on Coordinated Universal Time (UTC), but we'll discuss the timeline in terms of Pacific Daylight Time (PDT) to give a sense of when these events may occur in your timezone.

Please note that if you are expecting a large number of reports, you may experience delays in delivery times.

 

Daily Reports

Daily reports are generated every day between Monday and Friday at 7:30 PM PDT (Merchants utilizing Secure File Transfer Protocol (SFTP) reports can expect these to generate at 7:45 PM PDT). Each daily settlement report includes all charges from the previous day (accounting for the timezone conversion, Tuesday's report contains all of UTC Monday's charges). Therefore, the report that appears on your dashboard on a weekday at 7:30 PM PDT will be the previous day's report. 

For example, the report that appears on your dashboard on Wednesday March 6th at 7:30 PM will be the Tuesday, March 5th Settlement report.

 

Disbursement Flows

Note: As part of our partnership with multiple lenders, you may receive one or more settlement reports each day.

 

  • One Originator Disbursement

01_One_Originator.png

 

  • One Originator Delayed Disbursement

02_One_Originator_Delayed.png

 

  • Multiple Originators Disbursement

03_Multiple_Disbursement.png

 

  • Multiple Originators Delayed Disbursement

04_Multiple_Delayed_Disbursement.png

Since settlement does not not occur on weekends, one report is generated on Monday evening containing your settlements for Friday, Saturday, and Sunday. Bank holidays are similar in that settlement does not occur on bank holidays. 

For example if a Bank Holiday occurs on a Monday, one report will be generated on Tuesday evening  containing your settlements for Friday, Saturday, Sunday, and Monday. 

 

Weekly Reports

Weekly reports are delivered every Monday at 8:30 PM PDT. Each weekly settlement report includes charges from the previous week, Monday through Sunday.

 

Monthly Reports

Monthly reports are delivered on the first day of the month at 8:30 PM PDT. Each monthly settlement report includes charges from the previous month.

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Accessing Your Reports

There are 3 ways to access your settlement reports.

 

1. Dashboard

For each date on the settlement page, you can view total sales, refunds, total fees, and total amount settled. The date listed is when our lending partners initiate an ACH transfer for that payment. It may take 1 to 3 business days for settlements to appear in your bank account.

05_Dashboard.jpeg

 

2. Email

You can schedule emails with settlement reports to any email address. Click here for more information on scheduling email reports.

 

3. SFTP

You can choose to have settlement files sent to a Secure File Transfer Protocol (SFTP) directory. Contact us here and specify if you'll host the SFTP directory or if you'd like to use one hosted by Affirm. The file name conventions for settlement reports sent to an SFTP directory are:

  • Merchant name_start-date_end-date_details.csv
  • Merchant name_start-date_end-date_summary.csv

If you are  hosting the SFTP directory, we will  provide an Affirm public IP address for you to whitelist after you send us:

  • The SFTP server address
  • The port number
  • The directory path (if applicable)
  • Basic authentication credentials (if applicable)

If you would  like to use an SFTP directory hosted by Affirm, we will send you the server address, port number, and username after you send us:

  • Your SSH RSA public key
  • The IP address that will access the server

 

Sample Settlement Report

Download a sample settlement report here

This sample file can be used to develop against if you need a practical example of the file format and data types described below. If you have multiple URLs under one account, please reach out to Affirm to determine if Affirm is able to configure a combined Parent Settlement Report.

If you would like to receive a settlement report from your sandbox environment, please contact Affirm. 

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How to Read Your Reports

Standard settlement reports include the following details:

Name

Format

Description

date

String (ISO 8601 UTC)

The disbursed date, which is the date that the deposit was initiated.

charge_created_date

String (ISO 8601 UTC)

This is the date when the customer initially confirmed the loan (ex: 2019-04-04).

charge_id

String (9 alphanumeric characters)

The Charge ID is a permanent internal Affirm ID connected to the charge. The Charge ID remains even after you refund a charge.

transaction_id

String (16 alphanumeric characters)

The Transaction ID is a unique value created for each charge transaction. Capturing a charge and then voiding the charge will create 2 different Transaction ID’s. It is distinct from the Transaction ID and the Transaction Event ID in the Transaction APIs.

order_id

String (128 alphanumeric characters maximum)

The Order ID is an optional value that you provide in the checkout object. If you do not provide Order ID’s, this column will be empty.

event_type

String

This is the current state of the charge. Possible values are:


loan_captured

loan_refunded

dispute_opened

dispute_resolved

merchant_fee

fee_adjustment

refund_voided

vcn_balance_fee_adjustment

* split_capture

sales

Float (USD dollars)

This is the amount of the sales transaction and may be positive, negative, or zero. When you capture the loan or win a dispute, Sales is the positive value of that transaction. When a customer opens a dispute, Sales is zero and the negative value of that transaction is reflected under Refunds.

refunds

Float (USD dollars)

This is the amount of the refund and may be a negative value or zero. When you refund a loan, Refunds are  the negative value of the refund. In all other cases, Refunds are  zero.

fees

Float (USD dollars)

This is the fee that Affirm charges for this transaction and may be positive or negative. When you capture a loan or resolve a dispute, fees will be a negative value. If you refund a loan or if a customer opens a dispute, fees is a positive value.

total_settled

Float (USD dollars)

This is the total amount deposited into your bank account. It is the sum of all Sales, Refunds, and Fees.

txn_fees

Float (USD dollars)

This is a transaction fee that is charged by Affirm for processing a loan (Not to be confused with Fees as this is charged outside of that). Please confirm with your Affirm technical counterpart if you would like to enable this property

merchant_name

String

The name of the affirm account. Please confirm with Affirm if you would like to enable this property.

financing_program

String

If the customer qualified for a financing program, the program name will be listed here. Please confirm with r Affirm if you would like to enable this property.

entity_name

String

If you have multiple channels that use the same API keys, the Entity Name is an optional string you can provide in the checkout object. Please confirm with Affirm  if you would like to enable this property.

deposit_id

String (15 alphanumeric characters)

Affirm assigns this random string related to a single deposit to every charge in a settlement. Each charge with the same Deposit ID was deposited on the same day. For any given day you’ll have a Deposit ID per lending partner that was involved in a charge for that day.

dispute_reason

String

For dispute events, details on the reason for the dispute will be listed here. Please confirm with Affirm if you would like to enable this property.

 

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How to Reconcile Your Settlements

  • The date of the settlement file is the date we initiated the ACH transfer to your bank account, which is a different date than when the charge was processed.
  • Take the sum of all the amounts in the total_settled column that have the same Deposit ID. This sum should equal the amount of a deposit made into your bank account. You may have multiple deposits each day (one per lending partner).
  • If you use Order ID, take the sum of all the amounts with the same Order ID across different reports to calculate the final state of that order.
  • You can optionally map each Transaction_id to your accounts payable or accounts receivable in your accounting system.

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