Settlement

 General information

The merchant - meaning you - will receive a settlement in accordance with the agreement. Available settlement frequency options are:

  • Daily (business days)
  • Weekly
  • Monthly

How it works in practice

Activation
An invoice can be either fully activated or part activated, depending on if you can deliver the complete order or not. The amount settled will be the same as the total amount of the order rows that's been activated. 

All activations will be specified in the settlement files. 

Returns
An invoice can be fully or partially returned. The returned amount will be deducted from the next settlement amount (Activations minus Returns). 

All returns will be specified in the settlement files.

Fees
Depending on the agreement, any potential fees either will be deducted from the amount payed to the specified account number, or separately invoiced on a monthly basis. However, the CSV settlement file will always contain the full order amount. The reason for this is to make sure the settlement sum correspond to the amount in your ERP system. If the fees are shown in the CSV file or not depends on which file type specification is agreed and used (see "File type specification" below).

File naming

The CSV file name has the following format:

#Companyname_#CountryCode_#FromDate-#ToDate_settlement_#SettlementId.csv

Every "#" is a dynamic value. Example of a complete file name:  

TestPartner 3.0_SE_170814-170815_settlement_48094

This settlement contains data for the merchant "TestPartner 3.0" in Sweden, from the 14th and 15th of August 2017. 

File retrieval

There are two ways of getting the settlement files:

  • The settlements can be downloaded from our Partner Portal (https://commerce.collector.se/portal). Logged in, go to Admin in the top menu, then select "Show settlements". If you have not received your Partner Portal login credentials, please contact merchant@collectorbank.se.
  • The settlements can be uploaded to an FTP. You can retrieve the files from Collector's FTP, or have the files uploaded to an FTP set up by you. Contact merchant@collectorbank.se with a request to have this set up.

File type specification

Each settlement consists of two file types; one PDF and one (or more) CSV files. The PDF file aggregates all transactions and fees (if any), giving you an overview of the transactions for the settlement period (a specification of transaction types with an aggregated count to present end balance/payment) The CSV file contains information of each transaction. Collector offer two ways of generating the CSV. See below for examples on the two different ways.

The extended CSV file is another option that can be used instead of the standard CSV type. If used, The extended settlement CSV lists transactions (Purchases, Returns, Adjustments etc) and all Collector fees (if agreement containts fees deducted on settlement).

All fees are listed directly under each transaction.

File type example:

Example of extended CSV-file with all transaction for the period

Each settlement generate a PDF file that aggregates all transactions and fees (if any), giving you an overview of the transactions for the settlement period.

Example of PDF settlement file

Add-ons

If you are using the accounting system Fortnox, be sure to check out our Add-ons page for more information on how you can automate the settlement flow.