Definition
In the Banking API, a transaction is a money movement recorded on a bank account. It includes the amount, date, description, and counterpart information.“Transaction” also exists in the Payment API. A banking transaction is a movement recorded on a bank account; a payment transaction is a movement processed by a payment provider such as Stripe or Mollie.
Purpose
Transactions provide the detailed history of money movements on a bank account. They are used for reconciliation, cash flow analysis, and reporting.Relationships
- A transaction belongs to a banking account.
- It can reference a counterpart account.