## Introduction You may think that when a customer pays at the POS using their card that the funds are sent to the merchant's bank account immediately. But actually, they are only sent later when the merchant makes a settlement, usually at the end of the day. A settlement adds up all the payments the merchant has received during the day and subtracts all the refunds, then sends the total amount to their bank account in a single transaction. Here is a simple example of a settlement of $20.

Purchase of shirt	+20
Purchase of hat	+10
Refund of hat	-10
TOTAL	20

## Settlement enquiry A settlement enquiry is where a merchant requests from their bank a summary of the funds that need to be settled today or a previous day's settlement. This does not settle any funds with the bank; it only displays a summary. Settlement enquiries can be made any number of times throughout the day. ### Using the Spice UI ![](https://files.readme.io/cf3758b2d78f911bdcc2a120bb7383984a3c491e02b51922c925e1741b27e8f6-image.png)
To make a settlement enquiry using the [Spice UI](doc:spice-user-interface), do the following. 1. Click the **Terminals** > **Terminal settlement** tab. 2. Click **Settlement enquiry** > **Request via terminal**. 3. In [Gecko Bank](doc:gecko-bank), choose from the settlement enquiry options. 1. **Outstanding settlement** — see the current day's transactions that have not yet been settled. 2. **Past settlements** — see a settlement that was made on a previous date. 4. In Spice, a 'SETTLEMENT ENQUIRY' or 'SETTLEMENT' receipt will display. ![Gecko Bank's 'Settlements' screen.](https://files.readme.io/7ce6c44-gecko-bank-settlement-options.png) > 📘 Settlement and settlement enquiry receipts contain three-letter codes that refer to the transaction types: **PUR** is '[purchases](doc:spice-purchases-refunds)', **TIP** is '[tips](doc:spice-tips-surcharges)', **SUR** is '[surcharges](doc:spice-tips-surcharges)', **REF** is '[refunds](doc:spice-purchases-refunds)', **CAS** is '[cashouts](doc:spice-cashout)', and **TOT** is 'totals'. > > Learn about more [three-letter codes on receipts](doc:spice-user-interface#three-letter-codes). ### Using the Spice API To make a settlement enquiry using the Spice API, use the [POST /v1/settlement_enquiry](ref:make-settlement-enquiry) endpoint. Try using the following request body. ```json Request body { "posRefId": "aa2bc19f-c546-421c-sa82-2294fc25a13e", "posId": "T1" // Only required when using multiple terminals, such as for Pay at Table; a unique string that identifies the paired EFTPOS terminal } ``` Take note of the following fields. - **posRefId** — this should be a unique string to initiate the settlement enquiry. - **posId**— this unique string identifies the paired EFTPOS terminal. Recommended when using multiple terminals. Then, in [Gecko Bank](doc:gecko-bank), choose from the settlement enquiry options (explained above). The response will contain the settlement enquiry receipt within the `merchant_receipt` field (and the receipt will also display in the UI). Sequence diagram of making a settlement enquiry.

Sequence diagram of making a settlement enquiry.

## Settlement A settlement is where a merchant sends the total transactions made during the day to their bank account. A settlement can only be made once per day, and it is usually made at the end of the day. ### Using the Spice UI ![](https://files.readme.io/dcb8b0be3aebd25f754dbb20a360cf3ecb0bc926dae4a931047eeba03aced3c1-image.png)
To make a settlement using the [Spice UI](doc:spice-user-interface), do the following. 1. Click the **Terminals** > **Terminal settlement** tab. 2. Click **Settle now** > **Request via terminal**. 3. In Spice, a 'SETTLEMENT' receipt will display. ### Using the Spice API To make a settlement using the Spice API, use the [POST /v1/settlement](ref:make-settlement) endpoint. Try using the following request body. ```json Request body { "posRefId": "aa2bc19f-c546-421c-sa82-2294fc25a13e", "posId": "T1" // Only required when using multiple terminals, such as for Pay at Table; a unique string that identifies the paired EFTPOS terminal } ``` Take note of the following fields. - **posRefId** — this should be a unique string to initiate the settlement. - **posId**— this unique string identifies the paired EFTPOS terminal. Recommended when using multiple terminals. The response will contain the settlement receipt within the `merchant_receipt` field (and the receipt will also display in the UI). Sequence diagram of making a settlement.

Sequence diagram of making a settlement.