This page only applies to the reconciliation of credit card installment purchases made in Brazil. For credit card installments in Mexico and Turkey, reporting and reconciliation is the same as a regular credit card payment.
When you reconcile an installment purchase, you verify that the authorised and captured amounts for each installment match the amount settled to your account.
Here we describe the:
- Reconciliation flow of an installment purchase.
- Reports that can be used to reconcile installment purchases.
Reconciling installments
When you make an installment purchase it is reconciled as follows:
- The purchase is authorised and an
Authorised
journal entry is created. - The payment for the purchase is captured and a
SentForSettle
journal entry is created. -
A
SettledInInstallments
journal entry is created.Regardless of the number of installments, there will only be one
SettledInInstallments
journal entry per installment purchase. -
The
SentForSettle
journal entry is balanced againstSettledInInstallments
. This matches theSentForSettle
amount with theSettledInInstallments
amount.This happens on the next day, when we receive the installment due dates from the card scheme.
- An
OpenInstallment
journal entry is created for each installment. - A
SettledInstallment
journal entry is created when an installment is settled. - The
OpenInstallment
journal entry is balanced against its correspondingSettledInstallment
entry.
Reconciling refunded installments
When an installment purchase is refunded, the reconciliation process is as follows:
- The refund is authorised.
- The refund is captured.
- A
SentForRefund
journal entry is created. -
A
RefundedInInstallments
journal entry is created.Regardless of the number of installments, there will only be one
RefundedInInstallments
journal entry per refunded installment purchase. -
The
SentForRefund
journal entry is balanced againstRefundedInInstallments
.This happens on the next day, when we receive the installment due dates from the card scheme.
-
An
OpenInstallment
journal entry is created for each installment. - A
RefundedInstallment
journal entry is created when an installment is refunded. - The
OpenInstallment
journal entry is balanced against its correspondingRefundedInstallment
entry
Installment reports
You can find the following reports in your Customer Area. You can use these reports to track the status of installment payments, and reconcile them with your account:
- Monthly finance and Daily finance reports: Summarizes installments that have been paid to your account.
- Settlement details report: Details the specific installments that have been settled.
- Forecast report: Estimates the installments you are due to receive in the future.
- Payment accounting report: Details the installments that are due to be paid out for the month, as well as payments for other payment methods.
Installments in Monthly finance and Daily finance reports
For a summary of the installments that have been paid to your account, use the following journal entries in the Monthly finance and Daily finance reports:
- SettledInInstallments: Amount due to be settled from installments.
- RefundedInInstallments: Amount due to be refunded from installments.
- OpenInstallment: Installments that were open in this month or day.
- SettledInstallment: Amount that has been settled from installments.
- RefundedInstallment: Amount that has been refunded from installments.
For more information on this report, refer to our Monthly finance and Daily finance reports documentation.
Settlement details report
In Brazil, each installment payment is settled to your account separately. We recommend using the Settlement details report to reconcile these payments.
Use the following entries in the Settlement details report to track installments that have been credited to or debited from your account:
- SettledInstallment: Credit for an installment that was settled to your account.
- RefundedInstallment: Debit for a refunded installment.
- Chargeback: Debit for an installment that was reversed.
-
SecondChargeback: Debit for the unsuccessful defense of an installment that was reversed.
All future installments in this purchase will be suspended (SuspendInstallment).
- SuspendInstallment: Debit for an advanced installment that won't be settled due to a chargeback.
For more information on this report, refer to our Settlement details report documentation.
Forecast report
The Forecast report provides an estimation of the installments you will receive in the future. The amounts provided in this report are net, and the dates indicate when you will receive the funds.
Due to refunds and chargebacks, the amounts provided in this report can be different from the amount that will be settled to your account.
You can access Forecast reports in your Customer Area, under Finance > Forecast.
Payment accounting report
The Payment accounting report is where you can track the status of open installments. This can also be used for forecasting.
Use the following entries to track the status of an open installment:
- Payout Date: Date the installment is due to be paid to your account.
-
Installments (PC): Amount that has been credited to the installments register.
If this amount is negative the open installment relates to a debit (refund).
- Installments: The number of the installment. For example, 2/6 would refer to installment 2 of 6.
-
Booking Type: Type of open installment. Possible values are:
- FIRST: Installment that has been captured and sent to the scheme.
-
ACCELL: Installment that has been refunded.
The balance of the refunded installments has been carried forward so that the installment can be refunded from your account.
The balance of this installment has also been brought forward to refund the outstanding amount to your account.
- REPRESENTMENT: Installment that resulted in a chargeback, and a defense was made.
- RETRY: Installment that did not capture the first time.
For more information on this report, refer to our Payment accounting report documentation.