Description

A fee is a type of accounting record representing costs charged to a merchant by the payment service provider (PSP) for processing a transaction. Fee structures can vary greatly across PSPs, as some charge fees as a percentage, while others charge a flat value. In addition, some PSPs may charge one fee per transaction, while others charge multiple fees at different transaction stages. Leapfin does not handle fee calculations and only stores the final amounts calculated by the PSP.

Marketplace fees

For marketplace businesses, the term fee or transaction fee often refers to the amounts charged by the marketplace for transactions between buyers and sellers. Such a fee is different from Leapfin's fee record. The former is revenue to the marketplace business, while the latter is cost to the business. To capture marketplace fees, Leapfin creates customer fields on the line Item record to break down the full item amount into fees and pass-through amounts.

Fee records are displayed in Leapfin as follows:

Fee record creation

Leapfin captures the following standard and custom fields when creating fee records. These fields ensure that all necessary data is recorded as transactions flow in from your integrated payment service providers (PSPs), allowing you to make data-driven decisions and create precise accounting rules based on your accounting policies.

While the tables below describe the general data fields that comprise this record type, there may be nuances based on your integrated PSP. For information on how these fields are mapped for each specific integration, see the Data section of the Help Center.

Standard fields

In Leapfin, each fee record is comprised of the following standard data fields:

Standard fields	Description

Standard fields	Description
`objectType`	The target accounting record. For example, the `objectType`for a fee record is fee.
`id`	The unique identifier for the record. This is an external id received by Leapfin from your payment processor.
`amount`	The amount of the fee. This value should be non-negative.
`currencyCode`	The 3-digit ISO code of the `amount` field, such as USD or GBP. This code indicates the primary currency of this record.
`date`	The date and time the fee was charged by the PSP.

Optional fields

Leapfin can also bring in the following optional fields to use for reporting, determining journal entry logic, and configuring specific journal entries:

Custom fields	Description

Custom fields	Description
`description`	A description of the fee.
`exchangeRates`	A list of exchange rates used to calculate currency conversions. Each rate contains the following values: `currencyCode`: The 3-digit ISO code of the `amount` field, such as USD or GBP. This code indicates the primary currency of this record. `rate`: The conversion rate from primary currency to target currency (`amount` in primary currency * `rate` = converted amount in target currency).
`links`	The directional relationships that connect this record to other accounting records. Fee records are typically linked to payment records. Leapfin adds links with the following fields: `objectType`: The target accounting record. `id`: The unique identifier for this record.
`customFields`	The additional fields related to this record.

{
  "objectType": "fee",
  "id": "fee_001",
  "amount": 0.90,
  "currencyCode": "USD",
  "description": "a sample transaction fee object",
  "date": "2020-12-28T06:09:38",
  "exchangeRates": [
    {
      "currencyCode": "EUR",
      "rate": 0.84
    },
    {
      "currencyCode": "GBP",
      "rate": 0.73
    }
  ],
  "links": [
    {
      "objectType": "payment",
      "id": "payment_001"
    }
  ],
  "customFields": {
    "field1": "value1",
    "field2": "value2"
  }
}

Query fee records in your data warehouse

Fee records are stored in the VW_FT_FEE data table of your connected data warehouse. Reference the following articles for detailed information on setting up your database and querying fee records:

Product Documentation

Fee records

Table of contents

Description

Fee record creation

Standard fields

Optional fields

Query fee records in your data warehouse

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