Understanding Transactions {#vas-smb-transactions-overview}
===========================================================

Transactions are the foundation of Payment Center. Every payment creates a transaction record.

What Is a Transaction?
----------------------

A transaction records a payment event and includes:

* Amount and currency
* Customer information
* Payment method
* Date and time
* Transaction type
* Source
* Status

> All transactions are permanently recorded, even if voided or refunded.

Transaction Types
-----------------

Sale
:
* Captures funds immediately
* Most common transaction type
* Automatically settles (usually 1-2 business days)
* Can be refunded or voided (before settlement)

Authorization (Authorize Only)
:
* Places a temporary hold on funds
* Must be captured manually
* Typically expires after approximately 7 days
* Best used when:
* Shipping later
* Final amount may change
* Pre-orders or reservations

Refund
:
* Returns funds to customer
* Can be full or partial
* Available only after settlement
* Typically appears on card in 5-10 business days

Void
:
* Cancels a transaction before settlement
* No funds move
* Faster than a refund
* Must be done while transaction is pending

Transaction Sources
-------------------

Online
:
Website or direct checkout

Invoice
:
Payment from invoice

Recurring
:
Subscription payments

Link
:
Pay by Link payments

Transaction Statuses
--------------------

Success
:
Payment processed successfully

Pending
:
Waiting for settlement

Declined
:
Issuer rejected payment

Error
:
Technical processing failure

Held for Review
:
Requires fraud review

Review Complete
:
Previously held transaction reviewed and action chosen

Void
:
Canceled before settlement

Transaction Lifecycle
---------------------

* Sale: Initiated → Success → Pending → Settled
* Authorization: Authorized → Pending Capture → Captured → Settled
* Fraud Review: Initiated → Held for Review → Accepted or Rejected → Review Complete