Settlements
Because you process the actual payment of orders and not the marketplace, you likely need to periodically settle a balance between your company and the marketplace.
Orchestrapay calculates the balance of payment due and provides reconciliation data that helps you manually troubleshoot any calculation mismatch.
Reconciliation Data
We calculate the net balance due by summing all orders and refunds that occured over the settlement period. Refunds that occured in the same settlement period will be shown following their original order (orange below); if their original order occured before the settlement period selected, the refund will be shown first in the file (blue below).
| Column / Property | Description |
|---|---|
country | The country associated with the marketplace |
currency | The currency for this settlement data |
merchant_name | Jumia Mall |
object_uuid | The UUID for the order or refund |
object_id | The numerical ID for the order or refund |
related_object_id | The numerical ID that's connected to this object. For orders it will be the same as object_id and for refunds it will be the original order object_id. |
idempotency_key | The unique idempotency key that you provided to us when creating the order / refund. |
transaction_date | The date at which the transaction took place for financial settlement purpose. |
transaction_type | refund or order |
transaction_amount | The amount in local currency of the entire transaction. |
settlement_due | The actual amount that needs to be settled between the parties. |
balance | The accumulated balance that needs to be settled for the settlement period. |
Note: reconciliation data is grouped by currency, you will need to fetch the data for each currency that you transact in.
Delivery
You can receive the reconciliation data through 3 different ways:
1. Reconciliation API
You can query our Reconciliation API to fetch data in real-time for any settlement period you choose. This is the preferred way of consuming reconciliation data.
2. FTP
If you provide us with your FTP servers, we will push the reconciliation data automatically at the delivery frequency.
3. E-mail
You can create and update a subscription list through your dashboard. Each e-mail in the subscription list will receive a CSV file for the relevant delivery frequency.
Delivery Frequency
When using the Reconciliation API, the data is available in real-time and you can specify the settlement period as a parameter. When receiving files by e-mail and FTP, you will receive 3 types of files by default:
- Nightly: at 3AM with reconciliation data for the previous day up to midnight.
- Weekly: at around 3AM on Monday, with reconciliation data for the previous week up to Saturday midnight.
- Monthly: at around 4AM on the 2nd of the month, with reconciliation data for the previous month up to the last day at midnight.