Overview

2023-05-30 08:20

To help you with reconciliation, Alipay provides transaction details reports for each transaction day and settlement reports for each settlement batch. Understanding Alipay's settlement rules can help you perform reconciliation effectively. Additionally, you can view your transaction and settlement information in the Billing center of Alipay Global Merchant Portal, such as checking transaction details, processing refunds for transactions, or downloading transaction details and batch settlement reports.

Concepts

The commonly used concepts in settlement and reconciliation are introduced in the following table:

Concept	Meaning
Settlement	Settlement refers to the process of calculating the net settlement amount for all transactions within a settlement batch and transferring the settlement funds on the settlement date. Settlement details are presented in the Settlement Details Report and Settlement Summary Report.
Settlement period	The settlement period refers to how often Alipay settles with you. Alipay settles transactions that occur on a daily, weekly, or monthly basis: For daily settlement, funds are usually settled T+N days after the transaction, where N is a variable. For weekly settlement, funds are usually settled W+N days after the transaction, where N is a variable. For monthly settlement, funds are usually settled M+N days after the transaction, where N is a variable.
Currency conversion mode	Currency conversion mode represents what exchange rate will be used for settlement after the transaction occurs. Currency conversion modes are divided into locked-in and non-locked-in modes.
Locked-in	The locked-in currency conversion mode means that when the transaction currency is different from the settlement currency, the settlement currency amount is calculated based on the exchange rate on the day of the transaction and deposited to your settlement balance account.
Non-locked-in	The non-lock-in currency conversion mode means that when the transaction currency is different from the settlement currency, the settlement currency amount is calculated based on the exchange rate on the next day of the transaction and deposited to your settlement balance account. Note: In the non-locked-in mode, Alipay+ payment methods estimate the settlement amount on the transaction day and deposit it into your settlement balance account. Then the actual settlement amount is calculated based on the exchange rate on the next day after the transaction, and overpayment or underpayment is made and fees are charged. For payment methods other than Alipay+, the settlement amount is calculated based on the exchange rate on the next day after the transaction.

Table 1. Explanation of concepts

Settlement

Alipay settles with you based on the settlement rules for transactions that occur within each settlement period. When you choose different settlement period dimensions (daily, weekly, or monthly) and currency conversion modes for settlement, the settlement process from transaction occurrence to settlement completion will be different. For more information about the settlement, see the following:

Reconciliation reports

Alipay provides the following three financial reports for you to reconcile:

Report type	Function
Transaction details report	You can use this report to complete the following tasks: Compare successful transactions displayed in the report with those recorded by you to ensure consistency. Check transaction details for each transaction day, including all payment and refund records, and confirm payment and refund funds.
Settlement summary report	You can use this report to complete the following tasks: View all settlement summary data for each settlement batch. Reconcile with the settlement details report to compare for any issues or discrepancies.
Settlement details report	You can use this report to complete the following tasks: View specific settlement details for each transaction within a settlement batch. Calculate the total settlement amount based on each specific transaction and reconcile the funds with the settlement summary report.

Table 2. Reports and functions

In each settlement batch, the settlement amount you receive is the same as the total settlement amount in the settlement details report and settlement summary report respectively.

For more information about each financial report and how to obtain reconciliation reports, see the following:

Portal Reconciliation Capability

Alipay Global Merchant Portal provides you with real-time transaction and settlement viewing and reconciliation report download modules. You can view details of successful transactions, settled and unsettled transactions in real-time, export real-time transaction details and settlement reports, or download batch settlement reports and transaction details reports for reconciliation. For more information about portal capabilities, see Billing center.