> ## Documentation Index
> Fetch the complete documentation index at: https://docs.gr4vy.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Reconciling settlement records

> Reconciling settlement records against the system

After a transaction has been captured (either through a direct sale or separate authorization and capture),
a payment service likely proceeds with clearing the payments, after which they settle the funds to an account.
A similar process occurs for transaction modifications, such as refunds or chargebacks.

Once the funds have been settled by a payment service, the settlement reports are imported and reconciled. Those
entries are matched against the corresponding system records (transactions, refunds). A system record is marked as settled by
matching the imported settlement entries using the `reconciliation_id`, and any fees are attached to the matching record.

See more about the ingestion and scheduling of the settlement reports in the [settlement reporting](guides/dashboard/reports/settlement) section.

## Settled status

Once a record has been settled, the dashboard marks it as having a **Settled** status.

At the API level, the `status` of a record does not change, and instead a few
new fields are introduced to indicate a record is settled.

An example of a settled transaction:

<CodeGroup>
  ```json Response theme={"system"}
  {
    "type": "transaction",
    "id": "fe26475d-ec3e-4884-9553-f7356683f7f9",
    ...
    "settled_currency": "GBP",
    "settled_amount": 1000,
    "settled": true,
    ...
  }
  ```
</CodeGroup>

## Settlement record

Additional information about the settlements can be queried using the following API endpoints:

* [`GET/transactions/:transaction_id/settlements`](/reference/settlements/list-settlements)
* [`GET/transactions/:transaction_id/settlements/:settlement_id`](/reference/settlements/get-settlement)
* [`GET/transactions/:transaction_id/refund-settlements`](/reference/settlements/list-refund-settlements)
* [`GET/transactions/:transaction_id/refund-settlements/:settlement_id`](/reference/settlements/get-refund-settlement)

Each settlement record represents an imported record that matches the record in the system. The object contains settlement data pulled from the settlement report.
Where available the object shows the cost, settlement currency, the raw report reference and settlement date. The amount stored in the settlement corresponds
to the `net_credit` in the settlement report. This value could, in theory, be zero when a transaction was made for a low amount with a minimum fixed commission.

An example of a transaction settlement:

<CodeGroup>
  ```json Response theme={"system"}
  {
    "items": [
      {
        "type": "settlement"
        "id": "f9261931-283f-4332-9e47-f6cfa6751cda",
        "merchant_account_id": "default",
        "created_at": "2025-09-20T03:04:55.000+00:00",
        "updated_at": "2025-09-20T03:04:55.000+00:00",
        "posted_at": "2013-07-16T19:23:00.000+00:00",
        "ingested_at": "2013-07-16T19:23:00.000+00:00",
        "currency": "EUR",
        "amount": 1299,
        "exchange_rate": 1.2,
        "commission": 25,
        "interchange": null,
        "markup": null,
        "scheme_fee": null,
        "payment_service_report_id": "01924d8d-a656-7aa6-a825-9ad2d9712640",
        "payment_service_report_file_ids": [
          "01924d8e-1408-744d-81df-80540142790e"
        ],
        "transaction_id": "11048b49-993b-4b14-978f-a79c820e1063"
      }
    ]
  }
  ```
</CodeGroup>