[Account Owner] Using the API Endpoint: Transfers

TRANSFERS ENDPOINT OVERVIEW

The Transfers Endpoint is made up of two objects: the Transfer Object and the Transaction Object. By utilizing the Transfers Endpoint, your firm can call our API to pull in the data necessary for your team to payout AdvicePay deposits to your advisors/reps. 

Pros of Using the Transfers Endpoint over the native Transaction Report

• Customize your reports to the exact data points you need
• Automate data feeds
• Limit emails in your inbox by eliminating the need for the daily, weekly, or monthly transaction report email
• Maintain the ability to manually pull transaction reports from the AdvicePay UI if necessary

The Transfer Object

The Transfer Object relates to the Payout Tab on the native transaction report. These data points relate to the daily payouts you receive to your bank account. A daily deposit can be made up of multiple client payments.

Many firms pull these data points to reconcile AdvicePay payouts with their bank statement.

The Transaction Object

The Transaction Object relates to the Transactions Tab on the native transaction report. These data points relate to each individual client payment (or transaction). Here, you can see many details on each transaction, such as:

• Client Name
• Advisor Name
• Gross Payment
• Net Payment
• Rep ID 

BEST PRACTICES

Call data for a short period of time

Use the List Transfers parameters to limit the amount of date you’re calling from our API. When calling the API for transaction data, we recommend only pulling data for a set period of time, like the past month. This will keep download times quick.

Use AdvicePay's Rep ID feature to ensure seamless commission processing

We recommend turning on (and requiring) the Rep ID feature to ensure each transaction includes a rep code. This ensures your commissions team has only one data point (the splitRepCode parameter) to determine how a transaction should be paid out.