Settlement and splits

Settlement is the unglamorous half of getting paid: after the customer approves, where exactly does the money go, and when does it become yours to use? Kit Pay makes both questions explicit — every merchant payment carries its settlement shape, and your records show which stage it is at.

Direct settlement

The ordinary case: a captured payment settles toward the business wallet behind your merchant account, and the movement is recorded on the double-entry ledger like everything else on Kit Pay. This is the shape a shop counter usually wants — approved, captured, in the business wallet's history.

Held payments

Some arrangements call for a stage between approval and settlement: the customer's money is set aside — held — and then either released to complete the payment or cancelled back. A hold protects both sides of a not-yet-finished exchange: the customer has genuinely committed the money, and the business genuinely cannot treat it as settled until release. Your records show a held payment as held, never as money you can already spend.

Splits

A merchant payment can be defined to settle in shares across more than one wallet — the market-stall partnership, the counter where the owner and the supplier each take a defined portion. Two properties make splits trustworthy rather than messy:

• The shares are defined on the payment itself, so one customer approval settles all of them — nobody redistributes money by hand afterwards.
• The arithmetic is enforced: the shares must add up exactly, and a payment whose allocations do not reconcile is refused rather than settled approximately. No shilling is invented or lost in the splitting.

Refunds

A merchant payment can be refunded — in full, or partially for an amount you specify — and the refund is a recorded movement of its own, drawn back across the payment's allocations. Your records then tell the whole story honestly: the payment, its status changed to refunded or partially refunded, and the refund entries. A refund is the professional end of a dispute; business records shows how it reads afterwards.