Overview

Payout is a type of financial records representing fund transfers from merchant's payment processor wallet to a destination account. In most cases, the destination account is merchant's bank account. For companies with marketplace or revenue-sharing business models, the destination account may be a payment processor wallet or bank account owned by non-merchant.

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Payout vs Settlement

On Leapfin's platform, Payout is referred to as "Settlement". The data type for Payout is "LeapfinSettlement" and the associated table name is "VW_FT_SETTLEMENT".

It is important to notice that the term "Settlement" is used differently in some payment processor systems. "Settlement" (or "Settle") may refer to a specific status of payment. For example, a payment is authorized, captured, then settled in merchant's wallet. Leapfin includes such settled status as parts of Payment record.

Create a Payout

The following fields are required :

• objectType: type of financial record. For Payout, the value is "payout".
• id: unique identifier of this record. This is external id received by Leapfin.
• amount: amount of money impacted by this record. The value should be non-negative. This is the primary amount of this record.
• currencyCode: 3-digit ISO code of amount field, e.g. “USD”, "GBP", etc. This is the primary currency of this record
• date: the date-time of when this payout is created by payment processor.
• status: the status of the payout. Acceptable values are
  • "paid": the payout is successfully processed.
  • "failed": the payout failed during processing.
  • "pending": the payout is initiated but still being processed.

The following fields are optional but are commonly need for creating journal entries:

• description: description of the payout.
• exchangeRates: a list of exchange rates used to calculate currency conversions
  • currencyCode: 3-digit ISO code, e.g. “USD”, "GBP", etc. This is the target currency of this record
  • rate: conversion rate from primary currency to target currency. i.e. amount in primary currency * rate = converted amount in target currency.
• links: directional relationships pointing from this record to other financial records. Payout is commonly linked to Payment, Refund and Dispute.
  • objectType: type of the target financial record, e.g. "line-item"
  • id: unique identifier of the target financial record
• customFields: additional fields (i.e. key-value pairs) related to this record

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

Payout records are stored in VW_FT_SETTLEMENT table. It can be accessed via Snowflake Data Sharing and Access.