Installment reconciliation

Reconciliation is a crucial step in a transaction. When you reconcile a payment, you verify that the authorised and captured amounts for the payment match the corresponding settlement. Reports help you keep track of the process.

The one-off and the installment flows affects reporting capabilities, and they impact the corresponding reconciliation processes. During the account creation procedure, it is possible to define the type of flow you want to enable for the account.

  One-off Installment
Supports installments (error) (tick)
Supports advancements (error) (tick)
Forecast reports available (error) (tick)

To correctly complete a transaction flow, you need to reconcile settlement and refund requests, where applicable. 

You can follow the transaction progress by checking journal entries and payment statuses. Except for payment authorisation and capture, these steps repeat for each installment in the transaction.

Settlement journal entries

 The reconciliation flow for a transaction where the merchant collects the shopper's payments in a set number of installments follows these steps:

  1. The payment is authorised.
  2. The payment is captured.
  3. SentForSettle journal entry is created.
  4. If the shopper chooses to pay in installments, a SettledInInstallments journal entry is created.
    Regardless of the number of installments, the total payable amount is split up into, a payment can have only one SettledInInstallments journal entry.
  5. The SentForSettle journal entry is balanced against SettledInInstallments.
    This occurs as soon as we receive information about the installment due dates.
    The standard time frame for this operation is usually D+1.
  6. An OpenInstallment journal entry is created for each installment referring to the payment.
  7. When an installment is settled, a SettledInstallment journal entry is created.
  8. The OpenInstallment journal entry is balanced against its corresponding SettledInstallment entry.

Refund journal entries

The reconciliation flow for active transactions where the merchant collects the shopper's payments in a set number of installments, and a refund needs to be issued, follows these steps:

  1. The payment is authorised.
  2. The payment is captured.
  3. If the shopper requests a refund, a SentForRefund journal entry is created.
  4. RefundedInInstallments journal entry is created.
    Regardless of the number of installments the total amount is split up into, a payment can have only oneRefundedInInstallments journal entry.
  5. The SentForRefund journal entry is balanced against RefundedInInstallments.
    This occurs as soon as we receive information about the installment due dates.
    The standard time frame for this operation is usually D+1.
  6. An OpenInstallment journal entry is created for each installment referring to the payment.

    Cielo normally handles a refund request in one installment.

  7. When an installment is settled/deducted/refunded, a RefundedInstallment journal entry is created.
  8. The OpenInstallment journal entry is balanced against its corresponding RefundedInstallment entry.