When posting transactions, all configured calendars, holidays, and parameters are taken into consideration. The transaction types available for posting on holidays include:

• Regular posting
• Back-dated transaction
• Future-dated transaction
• Scheduled payment
• Earmark
• Multi-leg payment
• Bulk payment

For back-dated transactions, you must provide business_date and payment_datetime fields in Post payment with a past date. For future-dated transactions, you can provide business_date and payment_datetime or specify desired parameter values in the metadata fields of administrative division or holidays. Note that the parameters set in the holiday or administrative division metadata can affect transaction approval as well as posting dates.

Parameters

To process dated transactions, you must specify the following parameters in the metadata when creating an administrative division or setting up holidays. Note that the metadata object does not have schema validation, so when there's a typographical error or a field isn't sent, the parameter value defaults to false.

Future business dated transactions

To configure future business dated transactions on holidays, you must add the following boolean parameters to the administrative division or holiday metadata. By default, these parameters are set to false:

• defer_transaction
• deny_business_date
• deny_value_date

📘

The settings designated for holidays always supersede those in the administrative division.

Holiday transaction handling

If a transaction occurs on a holiday with defined holiday metadata parameters, these parameters take precedence over identical ones in the administrative division metadata. The Pismo platform uses the administrative division metadata for holidays when there is no associated holiday metadata or when the day is not included in the working_day array in the administrative division.

Cycle closing

To configure how cycle closing and transactions respond to holidays and weekends, you must set skip_cycle_closing to either true or false in the metadata field when setting up administrative divisions or holidays. This enables the system to determine whether to run a cycle closing or evaluate if a particular transaction is permissible.

Submitting future business-dated transactions

There are two methods to submit a future business-dated transaction. One approach is to designate the next business date in the payment request's business_date field (in Post payment). Another method is to set the following parameters and their corresponding values in the metadata field of Create holiday. For example:

• deny_business_date = false
• defer_transaction = true

With this configuration, any transactions posted on holidays or weekends are automatically deferred to the next business day.

Understanding regular clearing

Transactions scheduled for future business dates that undergo regular clearing (as opposed to instant clearing) require confirmation on the settlement date. You can use Confirm payment or Request bulk settlements to confirm these transactions. Running balances and balance history are impacted only after the transaction has been successfully cleared.

Impacted balances

Credit or debit transactions impact these balances respectively.

Impacted balance history

Credit and debit transactions

Different process days for credit and debit transactions impact different types of balance.

Credit and debit clearing

The processing dates of credits and debits can affect how these are applied to balances. Note that both credit and debit clearing transactions require calling Confirm payment or Request bulk settlement to confirm transactions.

📘

If a transaction is not cleared within 10 days, the transaction is canceled and all balance impacts are reverted.

Understanding instant clearing

Contrary to regular clearing, instant clearing does not require confirmation on the settlement date, because the funds are immediately accessible upon posting. Balances impacted by instant clearing include:

• Ledger balance
• Book balance
• Available balance
• Value-dated balance
• Credit or debit balance

For balance history, process dates have an impact on different balance types.

For dated transactions, include the business_date and payment_datetime fields in Post payment with past or future dates. Be aware of holiday or administrative division metadata parameters, as they can affect transaction approval or posting date.

To keep the value-dated balance in the balance history updated for weekends and maintain the running balance for available, book, and ledger balances, you must specify a value in payment_datetime of Post payment. The value must align with the cycle closing date (skip_cycle_closing), and its timestamp must correspond to either the present or some time in the past, but never a future date.

How instant clearing works

Specifying either true or false in the instant_clearing field in Post payment determines whether the balances are affected immediately at the time of transaction posting or on the settlement date.

To post a future business-dated transaction with instant clearing, the instant_clearing field in the request must be set to true. If this field is omitted, the default value becomes false, implying that the future business-dated transaction undergoes regular clearing.

You can also post future business-dated transactions by specifying instant_clearing = true in the metadata field of Create administrative division or Create holiday. In such instances, all future business transactions are instantly settled for the specified administrative division or on the defined holiday. Note that the instant_clearing field in a Post payment request always overrides both the holiday and administrative division configurations.

📘

The Pismo platform only checks the instant_clearing parameter for future business-dated transactions and future business and back value-dated transactions, the parameter is ignored in all other cases.