Overview

Payment Splits give borrowers and lenders insight into how payments are applied to outstanding balances. When a Payment line item is recorded in Canopy, the system will automatically apply the payment towards existing line items with outstanding balances. During this application of payments, the system records how the payment was applied; these records are called Payment Splits and are attached or related to both the source payment and the destination balance. This allows a lender or borrower to see to which line items a payment was applied.

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How to Access

API

Payment Splits are included in the line_item_relationships portion of a GET line item response. This field will only be returned if the line item has splits attached to it.

For Payment line items, this field will include all splits which were sourced from the payment. The sum of the splits will equal the value of the Payment line item, and the splits include references to the paid down line item. For example, a Payment which was applied partially to a fee and partially to a charge will include two Payment Splits in the response: one referencing the fee, and one referencing the charge.

For non-Payment line items (e.g. a charge, a loan, a fee, etc.), the GET /accounts/{accountId}/line_items/{line_item_id} response will include all payment splits which were applied to the item in question. For example, if a loan was paid off in three installments, the GET line item response for the loan will include three payment splits, one referencing each payment made to pay down the loan.

See a basic example of Payment Splits here:

CanopyOS

In CanopyOS, these relationships can be viewed by clicking into the "Transaction Details" portion of any transaction in the "Transaction History" section of an account.

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Nice-to-knows

Payment Splits are automatically generated by Canopy when a payment is made on an account. No additional action is needed by the lender or borrower to access the payment splits.

The order in which splits are created and payments fulfill balances if referred to in our system as Payment Pouring. If you wish to understand the ordering in which money is allocated please read [Payment Pouring](Payment Pouring)