Line Item Types
A summary of the different types of line items in the Canopy system of record, including interest, fees, payments, and principal transactions, and their descriptions and effects on account balances.
In the Canopy system of record, a line item represents a transaction that occurs on a customerās account. These line items can be created via API call (eg. POST payment, charge) or could be created via an automated action (eg. applying a late fee to an account, issuer processor voiding a transaction). See additional information regarding line item status here. Line items can broadly be categorized into four groups:
Interest
These are different types of interest that can accrue in a customerās account.
Name | Description |
---|---|
AM_DI | Aggregated deferred interest accrued on embedded loan line items, calculated at the end of the promotional period. |
AM_INTEREST | Interest accrued on an embedded loan line items. |
CHARGE_REVERSAL_INTEREST | A line item, related to a CHARGE_REVERSAL, that decreases the account interest balance by the amount of the interest assessed on the reversed CHARGE line item. |
CREDIT_OFFSET_INTEREST | An arbitrary line item created to increase the interest balance of the account. |
CREDIT_OFFSET_DEFERRED_INTEREST | An arbitrary line item created to increase the deferred interest balance of the account. |
DEFERRED_INTEREST | Deferred interest accrued on account from within the promotional period. |
INTEREST | Accrued interest which increases the balance of an account. |
PAYMENT_REVERSAL_INTEREST (Deprecated) | Generated if the account accrues additional interest due to a payment reversal. This is due to a higher principal balance for interest generation based on the payment's reversal. |
PAYMENT_REVERSAL_DEFERRED_INTEREST (Deprecated) | Generated if the account accrues additional deferred interest during a deferred interest promotion due to a payment reversal. This is due to a higher principal balance for interest generation based on the payment's reversal. |
Fees
These are various fees that can be assessed against a customers account either manually or through a scheduled process. Most fees need to be defined for a product or account before any fees are assessed for a customer.
Name | Description |
---|---|
AM_FEE | Fee assessed on an embedded loan line item. |
CREDIT_OFFSET_FEE | An arbitrary line item created to increase the fee balance of the account. |
FEE | A fee assessed, which increases the balance of an account. |
LATE_FEE | A fee assessed as a result of late or missed payments, which increases the balance of an account. |
MANUAL_FEE | An arbitrary line item created to increase the fees balance of an account. |
MONTH_FEE (Deprecated) | Deprecated and replaced by RECURRING_FEE. |
ORIG_FEE | An origination fee assessed on an account for a principal line item. |
ORIG_FEE_FOR_AM | An origination fee assessed on an account for a LOAN line item. |
PAYMENT_REVERSAL_FEE (Deprecated) | If a payment is reversed, then any fees that would have been charged to an account had the payment not been made will appear as a payment_reversal_fee. |
RECURRING_FEE | A fee assessed, which increases the balance of an account, that occurs on some fixed interval (monthly, yearly, etc.) |
RETURN_CHECK_FEE | A line item that increases fees balance of an account: assessed based on product configuration as a result of a PAYMENT_REVERSAL line item. |
YEAR_FEE (Deprecated) | Deprecated and replaced by RECURRING_FEE. |
Payments
Payments are transactions that decreases the balance owed on an account.
Name | Description |
---|---|
CHARGE_REVERSAL | A line item that reverses a CHARGE line item, decreasing the account balance by the same amount. This is distinct from a REFUND because a CHARGE_REVERSAL will also reverse fees and interest on the account as a result of the reversed CHARGE. |
CHARGE_REVERSAL_FEE | A line item, related to a CHARGE_REVERSAL, that decreases the account fee balance by the amount of the fees assessed on the reversed CHARGE line item. |
CHARGE_REVERSAL_PRINCIPAL | A line item, related to a CHARGE_REVERSAL, that decreases the account principal by the principal amount of the reversed CHARGE line item. |
DEBIT_OFFSET | An arbitrary line item created to decrease the principal, interest, or fee balance of the account. The allocation column of this line item determines whether this offset is applied to principal, interest, or fees. |
DI_WAIVER | Deferred interest waiver. An amount of interest, which will be reversed if a loan is paid off before promotion expiration. |
REFUND | An arbitrary line item that decreases the account balance: this is distinct from a CHARGE_REVERSAL, which will also reverse fees and interest on the account as a result of the reversed CHARGE. |
PAYMENT | Payment created via API call |
PAYMENT_SPLIT | Line item representing portion of payment applied to reducing a particular fee, interest, or principal line item. See Payment Split. |
REFINANCE_OFFSET | A line item created when refinancing, which decreases the principal balance due in the account's current cycle. |
Principal
Principal transactions add to the principal balance of the account.
Name | Description |
---|---|
CHARGE | A simple principal line item that increases the balance of an account. |
CREDIT OFFSET | An arbitrary line item created to increase the principal balance of the account. |
LOAN | An embedded installment loan which increases the principal balance of an account. |
PAYMENT_REVERSAL | A line item which reverses a PAYMENT line item, increasing the account balance by the corresponding amount. |
Updated 7 months ago