What does a transaction timestamp actually represent?¶

A transaction timestamp records one system event. It may mark instruction, authentication, authorisation, processing, posting, settlement or return rather than the moment a person acted.

One payment produces several times¶

Customer applications, statements, merchant systems and processors can select different stages as their displayed date. Automated payments can execute long after setup. Interfaces may round values or update them when status changes.

Time zones add another layer: records can use UTC, local customer time, merchant time or a system zone. A difference is not necessarily error, although clocks, exports and delayed posting still need examination.

Label event and time basis¶

Preserve the complete field, status, reference, source, offset and provider definition. Build a working timeline that retains original values and labels each event separately.

Report “the provider recorded authorisation at…” rather than using an unexplained time to place a person. Authorisation, posting and settlement should remain distinct.