Settlement

Settlement in Syndik8’s payments domain is a record of how a charge was paid. Every charge on the ledger eventually links to a settlement: a card capture, a Direct Debit collection, an admin-recorded external payment, a goodwill waiver, or an offset against a credit of the same amount. The settlement carries the mechanism, the status (pending, captured, settled, reversed, …), and a provider reference for reconciliation when one applies.

A settlement is the payment-side record, not the booking-side commit. The booking-side commit is finalisation: the step that turns a flight or maintenance booking into ledger entries in the first place. Finalisation creates the debit; settlement clears it.

The two flows are deliberately independent. A booking is finalised once, on the syndicate’s monthly rhythm; the resulting charges may settle days or weeks later as the member pays, by Direct Debit run, or by manual bank transfer the admin records as external. A reversal on a settlement — a chargeback, an indemnity claim, or a refund the syndicate sent — never undoes the booking finalisation. What it does to the charges depends on what it meant: they are re-opened for re-collection, left settled with the syndicate carrying the cost, or left settled at a corrected figure. See Reversals.

See also

• Finalisation: the booking-side commit; happens before any settlement
• Transaction types: every kind of ledger entry a settlement can clear
• Reversals: how a settlement can be undone without un-finalising the booking