Payaut glossary

AccountBalance matching an account code that is assigned to a Seller
Account CodeUnique code of the seller that reflects the seller inside our system
BalanceAmount that is registered on a specific account
Bank StatementExport of debit and credit transactions of foundation account
Bookkeeping balanceVirtual balance that is registered on a specific account that is ready for payout
BusinessLegal entity that is a Business
DivisionPart of the merchant where orders are clustered in. Could be based on shop, region county etc.
Default AccountThe default account is a deposit in transit account that keeps track of the reconciled transactions if all transactions are reconciled this amount should be zero
External AccountIBAN or Bank Account number where balance of seller or merchant needs to be transfered to
Foundation AccountPayaut’s escrow account where all debit and credit transaction of the merchants are added and substracted
Ledger accountAn account created in the bookkeepping that keeps track on debet and credit transaction comes in pending and confirmed ledger accounts
Legal EntityType of Seller (Private Individual or Business)
MerchantMerchant of Payaut where order is placed. The merchant send us the splits, payout requests and accountholder details
Merchant AccountAccount where the balances ment for the merchant are booked on. This can be seen as income for the merchant
Payaut Batchcollection of Payout items that together form a batch to be exported to ABN AMRO. Once uploaded status change too “in progress” once subtracted from bank account status change in “completed”
Payaut Batch StatusAnswer on payout batch. Status types are: Open, Ready, In Progress,Partially Failed, Failed and Complete
Payaut ItemsFormed out of collected “accepted” payout request that once added as Payout item creates a payout initiation ready to process in a batch
Payaut Items StatusAnswer on payout item. Status types are: Waiting, Assigend, In Progress, Complete, Failed
Payaut PlatformPlatform Payaut is using to collect the Pay-in (split payment, psp settlement report and bank statement and Pay-out information (Payout request)
Payaut RequestsFirst step in payout process where system or merchant instruct a withdrawal of a balance. This instruction is validated and answer of instruction request is answered with a payout request status
Payaut Requests StatusAnswer on payout request instruction Status types are: Waiting, Accepted, Rejected,Failed and Processed
Private IndividualLegal entity that is a natural person that doesn’t reflect a Business
PSP Settlement AmountTotal sum of orders, refunds and psp fees containing the psp settlment report that can be expected on the foundation account
PSP Settlement ReportReport received via API from PSP that contains all orders and refunds made on the platform of the merchant. (daily, weekly or monthy)
SellerSeller on the platform of the merchant
Split PaymentOrder that needs to be divided into two or more entities.
Split Payment InstructionsSplit instruction on how to divide a incoming order send by the merchant via API call
Split TypeType of behaviour of adding or subtracting the balances
ReconciliationInvestigate and match of the split instructions are received together with the matching psp settlement report of this split and matching bank statement of this psp settlement report.