Settlements Overview

  1. Settlement of the transactions happens in T+3 bank working days as per the agreement between the service provider and the School. All the international transactions will be settled in T+7 Bank working days.
  2. All the settlements initiated by the payment service provider can be checked in this screen including the Settlement date, Settlement ID (Unique), no of payment & refund transactions to be settled as part of the settlement batch, no of transfer & reversal transactions to be settled as part of the settlement batch and the total amount to be settled in the batch.
  3. A user can see the breakup of the transactions that are going to be settled by clicking on Settlement ID.
  4. Details of all the payments, refund, transfer, the reversal can be seen inside, in the breakup.
  5. If a user wants to see more details on the individual transactions, they can do so by clicking on the Transaction ID.
  6. Following details are available after clicking on Settlement ID:
    1. Settlement Amount = (Payment + Reversal) – (Refund + Transfer)
  7. Details of the table columns after clicking on Settlement ID:
    1. Transaction Id: Transaction ID is the unique ID for the transaction.
    2. Transaction Type: This gives details on the type of transaction, be it payment, refund, transfer or reversal.
    3. Transaction Response Date: It gives the date on which the last response was received from the payment service provider.
    4. Debit: If the transaction type is Refund or Transfer, it will come in this field.
    5. Credit: If the transaction type is Payment or Reversal, it will come in this field.
    6. Settlement Status: It gives the detail on the status of the settlement, whether Successful or Failed.
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