Shopify
Razorpay settlement reconciliation for Shopify stores
By the Veritally team · Updated · 5 min read
Quick answer
Download Razorpay's Settlement Recon report, match each prepaid Shopify order to its Razorpay payment by the payment ID (pay_...), and check that every captured payment was settled, for the amount you expect after fees and refunds, under a UTR that appears in your bank statement.
Key points
- The Settlement Recon report lists each payment, refund and adjustment with its settlement ID and UTR.
- Shopify stores the Razorpay payment ID against each prepaid order; that ID is the cleanest key to match on.
- Expected settlement = payment amount, minus Razorpay's fee and the GST on it, minus any refund.
- Give each payment your settlement cycle plus a few days' grace before calling it unsettled.
- The UTR on each settlement is how you find it in your bank statement.
How prepaid money reaches you
When a customer pays online, Razorpay captures the payment and settles it to your bank on your settlement cycle, after deducting its fee and the GST on that fee. Many payments are bundled into one settlement with one UTR, so your bank shows a single credit for hundreds of orders.
What to download
| Report | Where | Key columns |
|---|---|---|
| Shopify orders export | Shopify admin, Orders, Export | Order number, total, payment method, payment reference |
| Razorpay Settlement Recon | Razorpay Dashboard, Reports | Payment ID, order receipt, amount, fee, tax, settlement ID, settled date, UTR |
| Bank statement | Net banking, Excel or CSV | Credits and their UTR references |
How to match
- Keep prepaid Shopify orders that are paid or partly refunded, not cancelled.
- Match each to Razorpay lines by payment ID; if the payment ID is missing, use the order number in the receipt field.
- Check the payment appears in a settlement. If not, and it is past your settlement cycle plus a few days, it is unsettled.
- Check the settled amount equals the order total minus fees, GST on fees and refunds.
- Find each settlement's UTR in your bank statement and compare the credit with the settlement total.
What to raise with Razorpay
| Finding | What to ask for |
|---|---|
| Prepaid order never settled | The settlement status of the payment, and payment if it was captured |
| Settled less than expected | A breakdown of the deductions, and correction of any that don't apply |
| Settlement UTR not in your bank | Confirmation of the bank account and transfer, or a fresh payout |
Veritally for Shopify reads your Shopify orders and payment references live, takes the Razorpay report you upload, and runs every one of these checks on every order.
Frequently asked questions
Where do I find the Razorpay payment ID for a Shopify order?
On the order's payment details in Shopify, and in the Shopify orders export's payment reference columns. It starts with pay_.
Why doesn't one bank credit match one order?
Razorpay settles many payments together. One settlement, with one UTR, can cover hundreds of orders, minus fees and refunds.
Does this work with Cashfree?
Yes. Cashfree's Settlement Recon report has the same kind of columns, and the same matching applies.