A payment gateway net payout is a settlement amount, not a complete sales record. Reconcile it to the processor’s transaction report, separate fees and refunds, and explain any timing difference. Posting the bank deposit alone as revenue can hide the gross activity and make it difficult to match individual customer payments.

Accounting records, calculator and glasses on a desk
Illustrative photograph by Cht Gsml.

Collect the settlement evidence

Download the settlement report for the payout reference and the underlying transaction detail. Keep the bank entry, fee information and refund references alongside it. Confirm the currency and period covered. Some processors group transactions across several days, so a bank date may differ from the date of sale.

Use a consistent settlement identifier in the accounting schedule. Avoid relying only on the amount, because two payouts may have identical values. Restrict access to customer payment details and retain only the information the finance team needs for reconciliation.

Reconcile gross to net

For example, a processor settles S$5,000 of customer receipts, deducts S$100 of fees and S$300 of refunds, and pays S$4,600. The schedule should explain those three components and link the refund to its original transaction. The example is a reconciliation illustration; it does not decide the GST treatment of each component.

Check for reserves, chargebacks, currency conversion and earlier-period adjustments. Record each separately with its supporting reference. Do not create a balancing sale or fee simply because the report is difficult to read.

Match the accounting records

Ask the bookkeeper to compare the gateway transactions with issued invoices and existing receipt entries. Confirm that an automated integration has not already posted the sales before adding a manual entry. Otherwise, the same sale may appear twice even though the bank payout appears only once.

Resolve exceptions explicitly

Keep unmatched transactions in an exception schedule with an owner, evidence requested and next review date. Ask the processor about unexplained deductions using its approved support channel. A temporary accounting treatment should remain identifiable and be reviewed, rather than quietly absorbed into revenue.

Finish with an independent check

The reviewer should be able to trace the bank receipt through the settlement report to the underlying sales, fees and refunds. IRAS recordkeeping guidance requires records that explain business transactions. Retain the reconciliation and supporting files so the explanation survives a staff handover or software change.

Related practical guidance

For the surrounding work, see bookkeeping basics, bookkeeping and accounting, company records to keep.

Official guidance: IRAS company recordkeeping requirements.

Help with your company records

For accounting, bookkeeping and related compliance support, contact Raffles Corporate Services at [email protected] or WhatsApp +65 8501 7133. Tell us which records or process need attention so we can discuss the relevant next steps.