> For the complete documentation index, see [llms.txt](https://help.impact.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://help.impact.com/brand/what-would-you-like-to-learn-about/platform-features/actions-and-payouts/understand-the-action-life-cycle-and-finance.md).
# Understand the Action Life Cycle & Finance
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An action is a customer outcome (such as a sale, or a lead) that's been tracked by impact.com and credited to one or more of your partners. Actions follow a “life cycle”—they begin as new, pending actions, and usually end as locked actions, at which point they trigger a scheduled payout to the partner who drove the action.
The action life cycle incurs financial implications at certain points. Your impact.com account funding needs to be up-to-date and prepared for any payout obligations arising from locked actions.
## Action life cycle overview
After a conversion occurs, here's what happens:
* After a conversion event is tracked and credited to a partner, the action becomes *pending* on impact.com.
* Pending actions can be modified or reversed within the locking period. After the locking date passes, they become *locked actions*, which are considered *approved*.
* The commission amount due on *locked* actions is final, and is delivered on the s*cheduled clearing date*.
* Once the clearing date passes, the action will appear on the next partner invoice (usually on the 2nd of the month, unless a [custom GAAP month](/brand/what-would-you-like-to-learn-about/platform-features/finance/finance-documents/custom-gaap-month-scenarios.md) is used).
{% hint style="success" %}
**Note**: If you [submit conversion data retroactively](/brand/what-would-you-like-to-learn-about/platform-features/submit-and-modify-conversion-data/submit-conversion-data/submit-conversion-data-via-ftp-or-email.md) to impact.com, impact.com sets the Event Date to the time and date you submitted the data. Locking and clearing schedules will run according to the newly-assigned Event Date. Any payout rates, adjustments, or payout group rules for these conversions will apply according to your active contract with the partner.
{% endhint %}
## Action status & finance
Below are the different statuses an action can appear with in the [Action Listing report](/brand/what-would-you-like-to-learn-about/platform-features/multi-program-reports/performance-reports-for-brands/advanced-action-listing-report.md), along with the correlating finance implication.
| Action status | Financial implication |
| ----------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| Pending | **Action Cost estimated:** When an action is pending, it can still be modified (or reversed). Pending actions have an estimated *Action Cost* column in the Action Listing report. If the action does not change before it locks, this will be the commission to the partner. |
| Approved / Locked | **Action Cost due on Scheduled Clearing Date:** When an action is locked, the Action Cost amount becomes due. This will be used to pay the credited partner for generating the action. |
| Reversed | **Action Cost voided:** When an action is reversed, the action cost is voided and no commission is due. |
## View an action's details
An action's detail modal shows details about a specific action.
1. From the left navigation menu, select  **\[Engage]** → **Transactions → Pending Payouts →** [**Actions**](https://app.impact.com/secure/advertiser/engage/actions/open/pending-actions-flow.ihtml).
2. On the *Pending Payouts* screen, select the **linked Action ID** to open the modal.
* Below is a list of the most important data points to keep in mind when viewing action details:
| Data point | Description |
| ----------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| Payout | The commission amount the partner will receive for the action if it locks (equal to the Action Cost). |
| Locking Date | The date and time when the action will lock and the partner commission will become due. |
| Scheduled Clearing Date | The date and time when impact.com will clear the funds from your account to pay the partner for the action. **If your account has insufficient funds, the payment will be considered *****Overdue***. |
## Action lifecycle FAQs
If I approve an action before the locking date, can it still be modified?
Yes. Approving an action during the locking period marks it as valid, but the action still locks on its scheduled locking date. Until that date arrives, you can still modify or reverse the action (for example, if a customer returns a purchase).
Can the action review window be changed?
impact.com's locking period is a review window during which you can correct any incorrect action data or reverse actions that are invalid for payout under your contract with a partner. impact.com recommends the default locking period of *27 days after the end of the month they're tracked*, but you can change this to suit the needs of your program. For more details, see [Set Action Locking & Payment Scheduling Periods](/brand/what-would-you-like-to-learn-about/getting-started/set-action-locking-and-payment-scheduling-periods.md).
What if my account funds won't cover all locked actions?
Locked actions that can't be paid out due to insufficient funds will not be cancelled. Instead, they will be marked as *Overdue* until you cover any outstanding payouts. [Learn how overdue payouts are settled](/brand/what-would-you-like-to-learn-about/platform-features/finance/finance-explained-for-brands.md) after subsequent funding, and stay ahead of your funding obligations with a good [funding strategy](/brand/what-would-you-like-to-learn-about/platform-features/finance/add-funds-to-your-funding-account/guide-to-funding-strategies-for-brands.md).
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