A payout/settlement/disbursement is a type of accounting record that represents fund transfers from a merchant's payment processor wallet to a destination account. Typically, the destination account is the merchant's bank account. However, for companies with marketplace or revenue-sharing business models, the destination account may be a payment processor wallet or bank account owned by a non-merchant.

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Payout vs. settlement vs. disbursement

In Leapfin, the terms payout, settlement, and disbursement are used interchangeably, depending on which term your payment processor uses.

It’s also important to note that the term settlement is used differently by some payment processors. For example, settlement (or settle) may refer to a specific status of payment and should not be confused with a settlement record. Leapfin includes a settled payment status as part of the payment record.

Payout/settlement/disbursement record creation

To configure accounting rules and ultimately create journal entries, Leapfin maps raw data from your payment processor into standardized pieces of data known as accounting records. While the name and specifics of the record will change depending on the integrated payment processor, the same general data fields are required for creation. The tables below detail the required and optional fields Leapfin uses to map a payout/settlement/disbursement record. For information on how these fields are mapped for each specific integration, see Pre-built integrations.

Required fields

Leapfin uses the following fields to create each payout/settlement/disbursement record:

Custom fields (optional)

Leapfin can also bring in the following optional custom fields to use for reporting, determining journal entry logic, and configuring specific journal entries.

JSON sample data

{
    "objectType": "payout",
    "id": "payout_001",
    "amount": 908977.41,
    "currencyCode": "USD",
    "status": "paid",
    "description": "a sample payout object",
    "date": "2021-01-28T18:28:08",
    "exchangeRates": [
      {
        "currencyCode": "EUR",
        "rate": 0.84
      },
      {
        "currencyCode": "GBP",
        "rate": 0.73
      }
    ],
    "links": [
      {
        "objectType": "line-item",
        "id": "lineitem_001"
      },
      {
        "objectType": "line-item",
        "id": "lineitem_002"
      }
    ],
    "customFields": {
      "field1": "value1",
      "field2": "value2"
    }
}

Query a payout/settlement/disbursement in Snowflake

You can access and query payout/settlement/disbursement data through Leapfin's hosted Snowflake sub-account. Within Snowflake, payout/settlement/disbursement records are stored in the VW_FT_SETTLEMENT table.