Settlement Reporting

Each lender will settle funds to you arising from your financed purchases. Detailed information about these settlements can be accessed in the FlexPay Merchant Portal, providing clarity on funds deposited in your bank account.

FlexPay also provides remittance advice for all settlements to ensure that you are informed when a payout is due to you from a lender. This will be emailed to your nominated finance contact on the day a settlement is due. Each settlement has its own unique reference, to aid reconciliation and for you to quote in the event of any queries.

View Settlements

The Settlement view displays a list of prior and pending lender payouts by date and unique reference. For each settlement it provides a summary of the total sales in the settlement period, any deductions due to refunds and disputes, the charge for any finance offers used (known as the merchant subsidy) and the resulting settlement amount.

As with the Orders view, you can use the table to search or filter to locate specific settlements. You can also download a filtered list of settlements to CSV to assist with bank reconciliation.

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Important

If there is a gap in transaction processing, for example a day passes without any finance orders for a given lender, no settlement line item will be visible for that day.

Deductions

The settlement amount may adjust for any refunds or disputes processed during the applicable period, deducting these amounts from the total payment as detailed in the remittance advice.

As a result, a settlement can have a positive or occasionally negative total outpayment value. Values will be signed and both (-) and (+) are supported and will clearly display in the table against the settlement amount. In the instance of a (-) figure, no payout will be made to your bank account and instead deducted from the next (+) settlement

Detailed Summary Report

In the Settlements view, you can click into any individual settlement by using the "View more" option for a particular row. You will be taken to a detailed overview including a summary of the outpayment breakdown and an Orders view listing all the transactions which made up that specific settlement.

You can interact with this list in just the same way as any other Orders view, it is just filtered for a specific settlement and the transactions which were included in it. You can also download this list of orders to CSV to aid further reconciliation.

Payment and Remittance Advice

Payouts from each lender are credited to the bank account specified in your Merchant Application during onboarding and will reflect in your account within 1-2 working days, as per your agreement terms.

You will receive your remittance advice via email to your nominated finance contact.

Remittance Schedule

Settlements are processed during weekdays, excluding bank holidays, based on the cut-off time of 23:59 each day.