Track cash actually paid out

# Real cash flow — settlement date, not invoice date

## The trap to avoid

`spendesk_analyze_spend` (payables) answers "how much do we owe / have we spent", based on `payableDate` — the document date. For treasury reporting or an investor update, that's **the wrong date**: an invoice dated the 5th of the month can be paid on the 28th, or the following month. `spendesk_analyze_settlements` answers the real question — when money actually moved (`clearedAt`, the fund clearing date).

The two views genuinely diverge, not just in theory. Observed example on a real account:

| View | May 2026 | June 2026 | July 2026 |
|---|---|---|---|
| `spendesk_analyze_spend` (invoice date) | €120,870.00 | €17,639.94 | €22,980.88 |
| `spendesk_analyze_settlements` (settlement date) | — | €264,436.47 | €32,729.75 |

A CFO reading only the payables view significantly underestimates the real cash outflow for June.

## Call

```json
{
  "tool": "spendesk_analyze_settlements",
  "params": {
    "companyId": "<companyId>",
    "fromDate": "2026-06-01",
    "toDate": "2026-06-30",
    "groupBy": ["month", "type"]
  }
}
```

`fromDate`/`toDate` filter on `clearedAt`, not the accounting export date. Always group by `type` in addition to `month` — otherwise the net total mixes inflows (`refund`, `cashReturn`, `chargeback`, negative) with outflows (`payment`, `reimbursement`, `advance`, positive), which can produce a small or negative net total even with high gross volume.

## Observed result

```
{"key":"2026-06","amount":{"formatted":"EUR 264436.47"},"count":27,
 "breakdown":[
   {"key":"payment","amount":{"formatted":"EUR 264304.23"},"count":23},
   {"key":"reimbursement","amount":{"formatted":"EUR 132.24"},"count":4}
 ]}
```

The amount is already in functional currency (`billingAmount` summed server-side) — never sum `amount` (the transaction's own spending currency) across multiple currencies.

## Which view to use

| Need | Tool |
|---|---|
| "How much do we owe / have we spent over the period" (accounting view) | `spendesk_analyze_spend` |
| "How much cash actually moved in / out" (treasury view) | `spendesk_analyze_settlements` |
| Bank reconciliation | `get_settlements` (individual records) |

## Caveat worth mentioning

A settlement with `state=exported` means that cash movement was exported to accounting — independent of the linked payable's `bookkeepingStatus`. Don't conflate the two (see `s39-settlements-vs-gl-export`).

## Example user prompts

- "Give me a real monthly cash flow view, not based on invoice dates"
- "How much cash actually went out in June, excluding reimbursements?"
- "Compare the payables view and the real settlement view for last quarter"