Ledger
Ledger
The split account supports splitting the funds of an acquiring transaction according to the amount set by the merchant, and settle them to multiple PayCools merchant accounts to meet the needs of multi-party split account and multi-party settlement of a transaction.
What is a split
- Contributing merchants: merchants that initiate acquiring transactions and distribute funds
- Recipient Merchant: PayCools Merchant that is added as a split recipient, that is, the fund sharer
- Split method: Split with a fixed amount according to the recipient specified by the merchant in each split request, and specify one by one
- Execution method: The split is actually a transfer of funds between PayCools merchant accounts - the billing funds are settled first to the contributing merchant, and then transferred to each recipient according to the split request
Why should I use a separate account: In scenarios such as commission sampling and affiliate sharing, if the payment is distributed to the partner one by one after the receipt settlement is completed, additional handling fees will be incurred, and there may be two clearing compliance risks involved. Splitting accounts directly splits the funds within the settlement link, eliminating the link of secondary payment after settlement. Ledger transactions are not charged separately.
Applicable scenarios
Ledger is suitable for any scenario where a transaction fund needs to be split into different proportions/amounts and settled into different accounts. Common examples include:
- Chain brands/joint ventures: Chain brands usually include brands, direct stores, franchisees, franchise stores and other multi-level participants. When adopting the affiliate program, each transaction is distributed to different parties according to the agreed sampling point (fixed amount or proportion), and settled to their respective accounts.
- Distribution/platform: The platform shares commissions with suppliers, distributors, and promoters, and distributes commissions as agreed after the order is completed
- Microloans/financiers: Lending/distributing a transaction to different financiers or partners
- Other multi-party splitting: As long as there is a need to "split a transaction fund and settle it to a different account", it can be realized by splitting the account
Where does the recipient come from: Merchants can direct other merchants they develop/refer to PayCools to open an account. After opening an account, the hierarchy is consistent with other merchants, and can be directly added as a split-account recipient. Who is assigned to whom and how much each transaction is divided is decided by the investing merchant. Sub-accounts can be initiated after the transaction is completed and before settlement.
The ability to split accounts is open to acquirers. The specific countries and channels supported are subject to the actual opening. You can refer to the business introduction or consultation business of the corresponding country.
Core Rules
| Item | Rules |
|---|---|
| Initiator | Acquirer (Authorized service provider to open later) |
| Recipient | PayCools Merchant (PAYCOOLS_MCH) added as split recipient |
| Ledger Prerequisites | Acquisition transaction successfully paid and in pending settlement status |
| When to initiate | After the transaction is completed and before the transaction is settled; the settled transaction does not support sub-accounting |
| Execution Mechanism | After the splitting request is accepted, it is recorded first. After the billing funds are settled, they are transferred to each recipient by inter-merchant transfer as requested. |
| Ledger Amount | The single ledger amount cannot exceed the amount paid for the original order; the cumulative ledger amount of the same order does not exceed the order amount |
| Request idempotent | The same merchant sub-billing number (out_order_no) is requested multiple times |
Quantity Limit
| Restrictions | Upper Limit |
|---|---|
| Number of split requests for the same reservation | 10 times |
| Number of Recipients per Sub-Request | 10 pcs |
| Number of ledger recipients that can be added by a single merchant | 200 pcs |
Merchants need to ensure that the identity information of the sub-account recipient transmitted to PayCools is consistent with the account identification information and has legally obtained the authorization of the recipient.
Business Process
Sub-recipient management
Before splitting, the contributing merchant needs to add the recipient to the list of split recipients. After successful addition, PayCools will generate a sub-account recipient number (bind_no), which will be used to designate the recipient and fill in the sub-account amount when the sub-account is initiated.
To add a ledger recipient, you'll need to provide:
| Information | Description |
|---|---|
| Recipient Type | Only PayCools merchants (PAYCOOLS_MCH) are currently supported |
| Recipient Account Number | Recipient's PayCools merchant number (Merchant No.) |
| Recipient Name | Optional |
| Comment name | Optional for merchant recognition |
| Relationship with sub-accounting parties | Required, describing the relationship between the contributor and the recipient |
| Relationship Proof Document | Optional to support the relationship |
Type of relationship with sub-accounting party
| Relationship Type | Description |
|---|---|
| SERVICE_PROVIDER | Service Provider |
| STORE | Stores |
| STAFF | Employees |
| STORE_OWNER | Shopkeeper |
| PARTNER | Partnerships |
| HEADQUARTER | Headquarters |
| BRAND | Brand Party |
| DISTRIBUTOR | Distributor |
| USER | User |
| SUPPLIER | Supplier |
| CUSTOM | Custom |
When you select custom, you also need to fill in the custom relationship description (custom_relation).The added recipient can view, edit, or delete the note name/relationship→/supporting documents in the Merchant's backend "→Funds Management Funds Setup Ledger Recipient"; once the recipient is deleted, the funds are no longer supported to be divided to that recipient.
Ledger Returns and Refunds
Sub-account return: Return funds that have been split from the recipient account to the contributing merchant, and the returned funds enter the available balance of the contributing merchant.
| Rules | Description |
|---|---|
| Return by | Support multiple returns based on the original split bill |
| Refund Amount | The cumulative refund amount cannot exceed the amount of the original sub-bill distributed to the recipient |
| Return conditions | Returns are only supported for PAYCOOLS_MCH type receiver, sub-bill status is finished (sub-bill completed) and sub-bill result is success (sub-bill successful) |
| Relationship to refund | Sub-account refund and refund No strong coupling: refund before refund, refund before refund, or do not initiate refund according to the agreement between the contributor and the recipient |
When a refund occurs for a split-account order, it is recommended to first confirm whether the recipient's funds need to be returned, and then refund the funds to the user to avoid that the recipient's funds remain stuck after the refund is completed, resulting in complicated follow-up processing.
Settlement, Balance and Reconciliation
The funds involved in the ledger are reflected in the merchant balance settlement report, and the following fields have been added to the merchant balance summary and merchant balance details:
| Field | Description |
|---|---|
| Sub-account transfer out | Contributing Merchant Sub-account Success Amount |
| Sub-account transfer | Distribution amount received by the receiving merchant |
| Ledger Returns - Transfer-In | Amount recovered by the sub-account of the invested merchant |
| Ledger Return - Transfer Out | Amount of split funds returned by the receiving merchant |
Available Balance Rules:
- Payouts and split transfers can be withdrawn; other amounts can only be used for payments and transfers
- Split transfer amount is deducted preferentially at the time of merchant payment and transfer
Transaction Inquiry:
- The merchant platform "Transaction Management → Ledger Transaction" can view the details of the ledger transaction (including the transaction of the current merchant as a contributor and recipient)
- The payout transaction details will show the transaction's ledger amount, calculated as: the ledger amount = the successful amount of the ledger + the amount to be split - the amount returned by the ledger
Each sub-account line corresponds to a sub-account line statement number (detail_id), which can be reconciled with the sub-account transaction number and the fund statement.