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The net amount in the gateway settlement report does not equal any single credit in the bank statement, and the accountant assumes money is missing.
Match by UTR and date, not amount alone: check for one settlement split into several credits, several settlements merged into one, next-day posting, a returned credit, or a credit to a different account.
Settlement report with settlement ID, net amount and UTR; bank statements for every account the gateway can pay into; a window of one to two working days around the expected date.
Each bank credit tied to one or more settlement IDs, with any true shortfall isolated and raised with the gateway or bank with the UTR attached.
When your bank credit does not match the settlement amount, the money is usually not missing. Check these in order: one settlement split into two credits, two settlements merged into one, a credit posted a day late, or a later reversal or adjustment. The UTR (unique transaction reference) on the settlement report is the key to telling them apart.
This page is about a bank credit that differs from the settlement report. If instead your settlement is smaller than your sales, that is fees, GST and refunds, covered in the Razorpay payout guide in the links below.
What are the usual causes?
| Likely cause | What you see | How to confirm |
|---|---|---|
| Split credit | Two or more credits that add up to the report net | Same settlement ID, linked UTRs, same or next day |
| Merged credit | One credit larger than any single report net | Two settlement IDs share one UTR |
| Next-day posting | No credit on the expected date, the full amount next day | UTR found one working day later |
| Returned credit | No credit, or a credit then a reversal | Gateway shows the transfer as returned or failed |
| Wrong account | Nothing in this account | UTR found in another account you hold |
| Later adjustment | Credit matches, but a later debit appears | Gateway adjustment reference |
How do I know whether the difference is the gateway’s or the bank’s?
Start with the UTR on the settlement report.
- UTR present in the report and in the bank statement, amounts agree: no problem.
- UTR present in the report but not in the bank statement: check your other accounts and the next working day. If still missing, raise it with your bank, quoting the UTR, date and amount.
- UTR in the bank statement but the amount differs from the report: the gateway’s report may be out of date, or it merged or split settlements. Raise it with the gateway.
- No UTR in the report yet: the gateway has not sent the money. Check the settlement status and expected date.
A UTR is the bank-network reference for one transfer. NEFT, RTGS and IMPS each use their own format, so do not expect every UTR to look the same.
What if the credit is higher than the report says?
A larger credit usually means two settlement IDs were paid in one transfer, often after a weekend or holiday when several days settle together. It can also be a released hold or reserve. Find every settlement ID with that UTR and add their net amounts. If they still do not explain the credit, the extra amount may not be from the gateway at all; check the narration and ask your bank for the remitter details.
Worked example: ₹91,440 in two pieces
Your settlement report for 8 October shows net ₹91,440. Your bank statement for 8 October shows:
| Bank credit | Amount |
|---|---|
| Credit 1 | ₹60,000 |
| Credit 2 | ₹31,440 |
| Total | ₹91,440 |
Neither credit matches on its own. Added together they equal the report: ₹60,000 + ₹31,440 = ₹91,440. The gateway’s report links both UTRs to the same settlement ID. One settlement, two credits, no shortfall.
In your books, post both credits against the gateway clearing account. The clearing account for that settlement falls to zero.
The opposite case looks like this. Saturday’s settlement of ₹48,200 and Sunday’s of ₹27,350 are paid as a single ₹75,550 credit on Monday, because the bank only posts on working days. Check: ₹48,200 + ₹27,350 = ₹75,550. Two settlement IDs, one UTR, no extra money.
And a returned credit: a ₹12,000 settlement bounces because the account number on file has a typo. You see nothing that day. The gateway corrects the details and resends ₹12,000 two working days later with a new UTR.
When does this become hard?
With one gateway and one settlement a day, a calculator is enough. With several gateways, daily splits and merges, and settlements landing a day apart, the matching moves from amount to UTR and date ranges. The guides below show how to handle it at volume.
What to read next
- Next in this series: Why is my payment gateway settlement zero or negative?
- Split settlement: one payout, two bank credits
- Cashfree settlement reconciliation
- Why is my Razorpay payout less than my sale total?
- Payment gateway reconciliation
Payment-gateway settlement reconciliation is on the TransactIG roadmap.
Content authored by practitioners with experience at Amazon India, Intuit QuickBooks, and the Tata Group. Meet the team →