Payout/settlement/disbursement
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.
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:
Required fields | Description |
---|---|
objectType | The target accounting record. For example, the objectType for a payout is payout. |
id | The unique identifier for the record. This is an external id received by Leapfin from your payment processor. |
amount | The primary monetary amount impacted by the record. - A positive amount indicates a transfer of funds from the payment processor’s wallet to the merchant's bank account. - A negative amount indicates the opposite flow of funds (from the merchant’s bank account to the processor’s wallet). |
currencyCode | The 3-digit ISO code of the amount field, such as USD or GBP. This code indicates the primary currency of this record. |
date | The date the payout/settlement/disbursement was created by the payment processor. |
status | The status of the payout/settlement/disbursement. Acceptable values include: - Paid: The payout/settlement/disbursement was successfully processed - Failed: The payout/settlement/disbursement failed during processing - Pending: The payout/settlement/disbursement was initiated but is still being processed |
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.
Custom fields | Description |
---|---|
description | A description of the payout/settlement/disbursement. |
exchangeRates | A list of exchange rates used to calculate currency conversions. Each rate contains the following values: - currencyCode : The 3-digit ISO code of the amount field, such as USD or GBP. This code indicates the primary currency of this record.- rate : The conversion rate from primary currency to target currency (amount in primary currency * rate = converted amount in target currency). |
links | The directional relationships that connect this record to other accounting records. payout/settlement/disbursement records are commonly linked to payment, refund, and dispute records. Each link contains the following values: - objectType : The target accounting record.- id : The unique identifier for this record. |
customFields | Additional fields related to this record, such as key-value pairs. |
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.
Column | Description |
---|---|
LEAPFIN_ID | A unique identifier created by Leapfin. |
DECODED_LEAPFIN_ID_VT | The decoded version of LEAPFIN_ID in JSON format, which contains the following values: - external_code : The unique identifier for the record sent to Leapfin by the payment processor.- integration_id : The unique identifier of the data source created internally by Leapfin.- leapfin_data_type : A type of accounting record, such as LeapfinSettlement.- leapfin_suffix : An additional string that helps differentiate accounting records that have the same external_code.- raw_data_type : A type of raw data record received from the data source. |
ORGANIZATION_ID | A unique internal identifier of the account created by Leapfin. |
DATE_DT | The date the payment processor created the payout/settlement/disbursement. |
DESCRIPTION | The description of the payout/settlement/disbursement. |
CURRENCY_CODE | The 3-digit ISO code of the amount field, such as USD or GBP. This code indicates the primary currency of the record. |
AMOUNT | The primary monetary amount impacted by the record. - A positive amount indicates a transfer of funds from the payment processor’s wallet to the merchant's bank account. - A negative amount indicates the opposite flow of funds (from the merchant’s bank account to the processor’s wallet). |
STATUS | The status of the payout/settlement/disbursement. Acceptable values include: - Paid: The payout/settlement/disbursement was successfully processed - Failed: The payout/settlement/disbursement failed during processing - Pending: The payout/settlement/disbursement was initiated but is still being processed |
EXCHANGE_RATES_VT | A list of exchange rates used to calculate currency conversions. Each rate contains the following values: - currencyCode : The 3-digit ISO code of the amount field, such as USD or GBP. This code indicates the primary currency of the record.- rate : The conversion rate from primary currency to target currency (amount in primary currency * rate = converted amount in target currency). |
CUSTOM_FIELDS_VT | Additional fields associated with the accounting record in JSON format, such as key-value pairs. |
ACCOUNTING_TRANSACTIONS_VT | A list of journal entries associated with the accounting record. Each item contains the following values: - date : The date of the journal entry- entries : A list of journal lines within the journal entry. Each line contains the following values:-- account : A unique identifier of the accounting account. This is an internal id created by Leapfin.-- amount : The amount of money booked towards the account .-- accountingSide : An indicator of whether the amount is a debt (dr) or credit (cr) to the account .- comments : Additional fields, such as key-value pairs, on the journal entry in JSON format. |
CREATED_AT_DT | The date and time the accounting record was created by Leapfin. Value Format example: 2022-07-14 23:01:26.400 |
UPDATED_AT_DT | The date and time the accounting record was last updated by Leapfin. Format example: 2022-09-01 06:09:57.379 |
Updated 21 days ago