Transaction Types

A summary of the different types of transactions 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 transaction represents a record of an activity that has occurred on a customerā€™s account. These transactions 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 transaction status . Transactions can broadly be categorized into four groups:

Interest

These are different types of interest that can accrue in a customerā€™s account.

NameDescription
AM_DIAggregated deferred interest accrued on embedded loan transactions, calculated at the end of the promotional period.
AM_INTERESTInterest accrued on an embedded loan transactions.
CREDIT_OFFSET_INTERESTAn arbitrary transaction created to increase the interest balance of the account.
CREDIT_OFFSET_DEFERRED_INTERESTAn arbitrary transaction created to increase the deferred interest balance of the account.
DEFERRED_INTERESTDeferred interest accrued on account from within the promotional period.
INTERESTAccrued interest which increases the balance of an account.

Fees

These are various fees that can be assessed against a customer's 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.

NameDescription
AM_FEEFee assessed on an embedded loan transaction.
CREDIT_OFFSET_FEEAn arbitrary transaction created to increase the fee balance of the account.
FEEA fee assessed, which increases the balance of an account.
LATE_FEEA fee assessed as a result of late or missed payments, which increases the balance of an account.
MANUAL_FEEAn arbitrary transaction created to increase the fees balance of an account.
MONTH_FEE
(Deprecated)
Deprecated and replaced by RECURRING_FEE.
ORIG_FEEAn origination fee assessed on an account for a principal transaction.
ORIG_FEE_FOR_AMAn origination fee assessed on an account for a LOAN transaction.
RECURRING_FEEA fee assessed, which increases the balance of an account, that occurs on some fixed interval (monthly, yearly, etc.)
RETURN_CHECK_FEEA transaction that increases fees balance of an account: assessed based on product configuration as a result of a PAYMENT_REVERSAL transaction.
YEAR_FEE
(Deprecated)
Deprecated and replaced by RECURRING_FEE.

Payments

Payments are transactions that decreases the balance owed on an account.

NameDescription
DEBIT_OFFSETAn arbitrary transaction created to decrease the principal, interest, or fee balance of the account. The allocation column of this transaction determines whether this offset is applied to principal, interest, or fees.
DI_WAIVERDeferred interest waiver. An amount of interest, which will be reversed if a loan is paid off before promotion expiration.
REFUNDAn arbitrary transaction 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.
PAYMENTPayment created via API call
PAYMENT_SPLITTransaction representing portion of payment applied to reducing a particular fee, interest, or principal transaction. See Balance Splits.
REFINANCE_OFFSETA transaction 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.

NameDescription
CHARGEA simple principal transaction that increases the balance of an account.
CREDIT OFFSETAn arbitrary transaction created to increase the principal balance of the account.
LOANAn embedded installment loan which increases the principal balance of an account.
PAYMENT_REVERSALA transaction which reverses a PAYMENT transaction, increasing the account balance by the corresponding amount.