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Junior accountants cannot locate a gateway's settlement in the bank statement because the credit carries the aggregator's name and a different amount from the day's sales.
Search first by settlement UTR, then by exact net amount within a two-day window, then by the aggregator's name in the narration; gross sales never appear as a bank line.
Download the settlement report with settlement ID, net amount, settlement date and UTR, and the bank statement in Excel for the same period plus two days.
Each settlement is tied to one bank credit by UTR or exact amount, with any unfound settlement listed for follow-up with the gateway.
Take the UTR (the bank transfer reference) or settlement reference from the gateway’s settlement report and search your bank statement for it. If the UTR is not shown, search for the exact net settlement amount on or a day after the settlement date. Expect one credit per settlement, under the payment aggregator’s name, not your customer’s.
What does a gateway credit look like in a statement: NEFT, IMPS or RTGS?
Most gateways settle by NEFT, so the credit typically looks like this:
NEFT CR-YESB0000001-RAZORPAY SOFTWARE PVT LTD-YESBN52026101409876543
Read it in parts:
- NEFT CR — the rail and direction (credit).
- YESB0000001 — the IFSC of the sending bank, which is the aggregator’s escrow bank.
- The aggregator’s name — not the customer.
- The UTR — the reference that also appears in the gateway’s settlement report.
IMPS and RTGS credits follow similar patterns with their own prefixes. The exact layout differs between banks, so look at a few of your own past credits first.
Which ways can I search, and when does each work?
| Search by | Works when | Fails when |
|---|---|---|
| UTR | The gateway report shows the UTR and your bank prints it in the narration | The settlement is not yet paid, or your bank truncates the narration |
| Exact net amount | One settlement equals one bank credit | Two settlements were combined, or a refund changed the amount |
| Date window (settlement date to +1 day) | You need to narrow a long statement | A holiday or cut-off pushed the credit out further |
| Narration keyword (aggregator’s name) | You want to list all gateway credits for a month | The bank shortens the name, or two gateways share an escrow bank |
Start with the UTR. Fall back to amount plus date. Use the name to list the month’s credits and spot gaps.
Why can’t I find the exact amount?
Common reasons, in rough order of frequency:
- You searched gross sales. The bank receives the net amount, after fees and GST.
- A refund or chargeback was netted. The settlement is smaller than you expected.
- Two settlements were merged. After a holiday some gateways pay several days together.
- The credit landed later. Cut-off times and holidays shift it a day or more.
- Wrong account. The gateway may be settling to an older bank account still saved in its settings.
Worked example: finding a ₹91,440 settlement
On Tuesday 13 October, the Cashfree report for a stationery seller shows:
| Settlement ID | Gross | Fees | GST on fees | Refunds | Net | UTR |
|---|---|---|---|---|---|---|
| ST-55120 | ₹95,000 | ₹1,800 | ₹324 | ₹1,436 | ₹91,440 | ICIC…4478 |
Check the net: ₹95,000 − ₹1,800 − ₹324 − ₹1,436 = ₹91,440.
The accountant searches the bank statement for “4478”. Nothing on Tuesday. She widens the window to Wednesday and finds, at 9:42 am on 14 October:
NEFT CR-ICIC0000104-CASHFREE PAYMENTS-…4478 for ₹91,440.
The settlement went out late on Tuesday evening, and the bank posted it the next morning. Matched. She notes the bank date (14 October) against settlement ST-55120.
Had she searched ₹95,000 instead, she would never have found it.
How do I do this for a whole month?
- Export the month’s settlement report with the UTR column.
- Export the bank statement in Excel for the month plus the first two days of the next month.
- Filter bank credits containing the aggregator’s name.
- Match each settlement to a credit by UTR, then by amount for the rest.
- List anything unmatched and raise it with the gateway with the settlement ID and UTR.
A month of 26 settlements averaging ₹91,440 is ₹23,77,440 of credits. If one ₹91,440 credit is missed, the gateway receivable is overstated by exactly that amount at month-end.
What to read next
- Next in this series: Cashfree settlement reconciliation
- Pulling UTRs out of narrations in a spreadsheet: bank narration parsing with Excel formulas
- How narrations are laid out: bank statement narration patterns in India
- When matching becomes daily work: payment gateway reconciliation
Payment-gateway settlement reconciliation is on the TransactIG roadmap.