Settlement and statements
A settlement statement that is numbered, hashed and reproducible, showing the provider fee, the platform fee and the tax on it as separate lines rather than one net figure.
Merchants, finance teams, accountants and anybody who has to file something based on what the platform paid them.
Part of the platform itself: it is present wherever BitriPay runs.
The problem
When settlement arrives as a single net amount, the merchant cannot see what was deducted or by whom, cannot reconcile it to their own sales, and cannot produce the tax breakdown their accountant needs.
How it works
- Set a settlement profile per currency and rail: the schedule, the cut-off hour, the destination and a minimum.
- A cycle collects what was taken between two cut-offs, net of fees, refunds, splits and holds.
- The cycle closes into an obligation and a numbered statement.
- Paying the obligation goes through the payout workflow with its approvals.
What you can check
Facts about the running platform rather than adjectives. Each one is visible in the product, the API reference or the ledger.
- Statements are numbered in sequence and hashed, and are produced as JSON, CSV or PDF from the same figures.
- The provider fee, the platform fee and the tax on that fee are separate lines, not one net deduction.
- Where the settlement currency differs from the collection currency, the conversion is disclosed with its rate, mid rate and margin.
- A cycle can be previewed before it closes, so a merchant can see what the next settlement will contain.
- Schedules run per profile — same day, next day, two days, weekly or manual — rather than one cadence for everybody.
What it costs
Settlement itself is not charged separately; the fees shown on the statement are the fees on the payments it covers.
Questions
Why is the tax on the fee a separate line?
Because your accountant needs it separately and you cannot recover what you cannot identify. A net deduction forces somebody to reverse-engineer the tax, usually wrongly.
Can I see what the next settlement will be before it closes?
Yes. A profile can be previewed, showing the collection-currency totals with the fee lines and, where currencies differ, the conversion with its rate and margin.
What does hashing a statement achieve?
It lets you show a statement has not been altered since it was issued. Combined with sequential numbering, it also makes a missing statement obvious, which matters more than it sounds during an audit.
Read next
The ledger
A double-entry ledger where balances are derived from postings rather than stored, corrections are opposing entries rather than edits, and invariants are enforced at write time instead of checked by a nightly job.
Withdrawals and payouts
A payout that is held against your balance the moment you request it, executed under four eyes above a threshold, and reversed on the ledger if the rail refuses — so money is never both spent and still spendable.
Refunds and disputes
A refund that reserves the money atomically before it is promised, and a dispute that is an object with a timetable rather than an email thread somebody is supposed to remember.