Settlement reports provide a list of sales transactions, refunds, and disputes over a daily, weekly, or monthly period. There is one settlement report for each settlement to your bank account, and typically, there's one settlement every day that you capture an Affirm charge. These reports allow you to reconcile your transactions with the deposits made into your bank account. This guide will cover:
- Report delivery schedule
- How to access your reports
- How to read your reports
- How to reconcile your settlements
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 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 some delay in delivery times.
Daily reports are generated every day between Monday and Friday at 7:30 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). Because of that, the report that appears on your dashboard on a weekday at 7:30 PM PDT will be the previous days 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.
Since settlements do not occur on weekends, on Monday evenings one report is generated containing the settlements for Friday, Saturday, and Sunday. Bank holidays are similar. Settlement Reports are not generated on bank holidays. If a Bank Holiday is on a Monday, then the Tuesday night report will contain settlements for the previous Friday, Saturday, Sunday, and Monday.
Weekly reports are delivered every Monday at 8:00 PM PDT. Each weekly settlement report includes charges from the previous week, Monday through Sunday.
Monthly reports are delivered on the first day of the month at 6:30 PM PDT. Each monthly settlement reports includes charges from the previous month.
How to access your reports
There are 3 ways to access your settlement reports.
- Merchant dashboard
- Sign in to your merchant dashboard
- On the left navigation bar, click Settlements
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 bank initiates an ACH transfer for that payment. It may take 1 to 3 business days for it to appear in your bank account
You can schedule emails with settlement reports to any email address.
- Sign in to your merchant dashboard
- On the left navigation bar, click Settings
- Click the Scheduled Reports tab
- Click the + icon next to EMAIL PREFERENCES
- Enter the email address for the recipient
- Select which report to send (daily, weekly, monthly)
You can remove any recipient by clicking the X next to their name.
You can choose to have settlement files sent to a secure FTP (SFTP) directory. Contact us 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:
If you’re hosting the SFTP directory, we’ll 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’d like to use an SFTP directory hosted by Affirm, we’ll 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
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 talk to your Affirm counterpart to determine if you should be using a Parent Settlement Report.
If you would like to receive a Settlement Report from your Sandbox environment, please reach out to your Affirm technical counterpart.
How to read your reports
Standard settlement reports include the following details:
|Date||String (ISO 8601 UTC)||This is the date where the event listed in column Event_type occurred (ex: 2019-04-04).|
|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.|
|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.|
This is the current state of the charge. Possible values are:
|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 the negative value of that transaction. If you refund the amount or lose a dispute, Sales is zero.|
|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 is the negative value of the refund. In all other cases, Refunds is 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 positive value. If you refund a loan or if a customer opens a dispute, Fees is a negative 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.|
|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 your Affirm technical counterpart 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 your Affirm technical counterpart if you would like to enable this property.|
|Merchant_name||String||This string only appears in parent merchant accounts. If a child merchant account processes a charge, then that account name will be listed here. Affirm controls 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.|
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 the deposit made into your bank account.
- 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.