Settlements
After capturing your first order you will be automatically paid out according to the payout schedule and payout terms defined in your contract. This guide will help you get everything in place to reconcile your first payment.
2 min read
Understand Payout Terms
You can find your payout schedule and payout delay either in your contract’s terms and conditions or by visiting the Settlements App in the Kustom Portal.
A payout delay acts as a safety net for both parties. Its primary purposes are to: _ Prevent money from being exchanged repeatedly between Klarna and you for the same invoice. _ Cover cases where a return is registered.
Imagine you have agreed to weekly payouts on Wednesdays with a payout delay of one week. If you capture an order on Friday, that order will not be settled on the upcoming Wednesday. Instead, the settlement occurs one week later on Wednesday due to the payout delay. On the following day (Thursday), you will receive the Settlement report via one of the following channels: _ Kustom Portal Settlements App _ Settlements API * Pre-configured SFTP
On the same day that you receive the report, the payment leaves our* bank account and will be credited to your bank account in the subsequent days.
For every payout, a corresponding settlement report is provided so that you can reconcile the payment against your orders. Use the payment reference shown on your bank statement to match it with the correct settlement report.
The two most popular ways to access these reports are: CSV Report, ideal for order-level reconciliation and PDF Report, which serves as a summary and VAT invoice (used for tax reporting in the European Union, Australia, and Canada).
Settlement Time Zones
_ EU: GMT (GB time zone) _ US: EST (UTC+6) * AP: AEST (UTC+10)
Automated Integration Options
While you can manually download settlement reports via the Kustom Portal, you also have the option to retrieve both the CSV and PDF reports automatically via SFTP or API
Customize Your CSV Settlement Report
If your accounting system requires specific formatting, you can customize our CSV settlement reports within minutes directly in the Kustom Portal. Adding or removing data columns, adjusting delimiters and modifying date or amount formats.
* Money is either being transferred from Klarna Bank AB or Stripe depending on who's processcing the transaction on our behalf.