Settlement Report Overview

This report gives details on the settlement of all the transactions to be settled in the same settlement ID.

Explanation of filters:

  1. If the date filter is selected as Created date, then it will filter it on the basis of the creation date of settlements.
  2. If the date filter is selected as Processed date, then it will filter it on the basis of the processing date of settlements.
  3. Transaction type would help see all the payment settlements/refund settlements individually.
  4. Settlement Status allows filtering the report on the basis of the status of the settlement of all the transactions.

Report specific information:

  1. Settlement of the transactions happens normally in T+3 days, where T is the date of payment success.
  2. All the transactions for which Settlement has either been initiated/processed/failed would be seen in the report along with the settlement details.
  3. Settlement details include Settlement Status, Created Date, Settlement ID, Settlement UTR, Settlement Date.
  4. Transaction ID: This is the ID of the payment/refund/dispute which is being settled.
  5. Transaction Type: It can either be Payment, Refund or Dispute.
  6. Debit: This is the amount deducted from the School’s running balance when a settlement is successfully processed (In case of refunds or disputes).
  7. Credit: This is the amount added to the School’s running balance when a settlement is successfully processed (In case of fee payment).
  8. Transaction Response Date: This is the date on which the success response is received for the transaction from the payment gateway provider.
  9. Settlement Statuses:
    1. Created: The settlement amount is being processed by the payment gateway provider’s nodal banking partners and shall be credited on the same working day.
    2. Processed: The settlement amount has been successfully credited into your account.
    3. Failed: The settlement to your account has failed. This could be due to incorrect bank account details (bank account number or IFSC code) entered by you. You will receive a mail from the Payment gateway provider in such an event.
  10. Settlement ID: This is the ID given by the payment gateway provider to process a set of transactions in the same settlement batch. Normally, 1 unique Settlement ID is generated for all the transactions done on 1 particular day.
  11. Settlement UTR: Each settlement has a Unique Transaction Reference (UTR) number, which is provided by all the banking partners. This is a unique reference number available across banks, which can be used to track a particular settlement in the bank account.
  12. Created Date: This is the date of creation of the Settlement Batch.
  13. Settled Date: This is the processing date of the Settlement Batch.
  14. Payment Mode, Bank Name, Card Details: This gives the payment related details of the parents.

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