Finance: Payouts, Settlements & Invoicing

How a customer's payment travels from checkout to your bank account, what's deducted along the way, and how automatic invoicing works.

Every rupee a customer spends on your store follows a clear, auditable path from their phone to your bank account. This page walks through that journey, what's deducted along the way, and the three Finance screens that let you watch it move.

How a customer pays

At checkout, customers pay through Razorpay — one of India's largest payment processors, certified to PCI-DSS Level 1. You never see, touch, or store a customer's raw card number or banking credentials; that information goes directly to Razorpay's secure environment.

Customers can pay using:

Payment method	What it is
Credit & debit cards	Visa, Mastercard, RuPay, and American Express — consumer or business.
UPI	Customer scans a QR code or enters their UPI ID for an instant bank-to-bank transfer.
Net banking	Direct login to 50+ Indian banks' internet-banking portals from within checkout.
Wallets	Paytm, PhonePe, Amazon Pay, and other popular prepaid wallets.

The checkout itself is Razorpay's hosted payment interface — it handles security, bank redirects, and confirmation automatically, then returns the customer to your order-confirmation page.

One-time setup: connecting Razorpay

Before any money can flow, you complete a short one-time connection. Go to Plugins → Razorpay.

You'll need three pieces of information from your own Razorpay account:

Key ID — a public identifier that tells BillionBiz which Razorpay account to route payments through.
Key Secret — a private credential confirming you control that account (stored encrypted; never shown again in full after saving).
Verification secret — confirms that payment-confirmation messages truly came from Razorpay and haven't been tampered with.

Use the Test Connection button to send a live ping and confirm your credentials before any real transaction takes place. You can use test-mode keys while building your store, then switch to live keys when ready.

If you'd rather not manage your own Razorpay account, you can use the platform-managed (pooled) option, where BillionBiz's own Razorpay account processes payments on your behalf. The checkout experience for the customer is identical either way.

KYC — why it matters before money can reach you

Razorpay is regulated by the Reserve Bank of India and requires KYC (Know Your Customer) — verifying your business PAN, bank details, and a government ID — before releasing settlement funds. KYC happens once, entirely inside Razorpay's own portal. Until it's approved, payments can still be collected, but Razorpay holds the funds until verification completes. The Payouts screen shows your current KYC status at all times.

The money flow: checkout to bank account

Customer pays at checkout

The customer completes payment; their bank or card issuer authorises the transaction, typically within seconds.

Payment is captured

Razorpay confirms the payment is authorised and captured — reserved and no longer reversible by the customer's bank. The order is marked paid and moves to your processing queue immediately.

Razorpay holds the funds

The captured payment sits in Razorpay's ledger, not yet in your bank account. This is normal — it's part of Razorpay's settlement cycle and fraud-monitoring process.

Marketplace stores: the payment splits automatically

If you run a marketplace with multiple independent vendors, BillionBiz calculates each vendor's share of the order the moment payment is confirmed. That share, minus your platform commission, is recorded as a transfer earmarked for the vendor's linked bank account. For single-seller stores this step doesn't apply — the full payment (minus Razorpay's processing fee) belongs to you.

Razorpay batches funds into settlements

On a regular cycle, Razorpay groups all payments captured since the last cycle into a single settlement batch, with a date, a total amount, and a UTR (Unique Transaction Reference) — think one consolidated transfer instead of many small ones.

The money arrives in your bank account

Razorpay transfers (NEFT or IMPS) the settlement amount to your registered bank account — and, in a marketplace, separate transfers to each vendor's linked account. Razorpay's standard settlement cycle is T+2 business days: money captured Monday typically reaches the bank by Wednesday, though this can vary by account tier and any fraud-review holds.

What's deducted along the way

Deduction	When it applies
Razorpay's processing fee	Every transaction — typically around 2% for cards, lower for UPI. Deducted before Razorpay calculates the settlement amount.
Platform commission	Marketplace stores only — a configurable percentage you keep from each vendor's sale, set up in Finance → Payouts configuration.

The amount you see on the Settlements screen is always the net figure, after Razorpay's fee has already been removed.

Settlement and payout amounts are shown in rupees, exactly as Razorpay settled them. A settlement of ₹1,180.00 reads ₹1,180.00 on both the Settlements and Payouts screens. Row and drawer figures always show two decimals.

The Finance screens

Finance has three screens: Payouts, Settlements and Transfers. How you reach them depends on your admin skin.

v2 skin: open Finance → Payouts in the sidebar. There is one Payouts item (under Finance, next to Billing & plan), not three. The screen has a row of three tabs just under the page title: Payouts, Settlements and Transfers. Select a tab to switch screens. Each tab is a link, so each has its own address (/finance/payouts, /finance/settlements, /finance/transfers) and you can bookmark it. The sidebar keeps Payouts highlighted on all three.
Classic skin: the Finance section of the sidebar lists Payouts, Transfers and Settlements as separate items.

Screen	What it shows	Key actions
Payouts	Your linked bank account, KYC status, and payout configuration (including commission percentage in a marketplace). Also shows a count of failed transfers.	Set up or update the linked bank account; complete or refresh KYC status; configure commission rates; retry all failed transfers in one click.
Settlements	A history of every settlement batch deposited to your bank account — date, total amount, and UTR. Until a bank account is linked, the v2 screen says no bank account configured. and offers add bank account.	Review individual settlement batches; cross-check the UTR against your bank statement.
Transfers	Marketplace operators see every per-order money movement — vendor share, platform fee, status (processed, pending, failed, reversed, or partially reversed), and Razorpay transfer reference.	Filter by status; retry a failed transfer; create a partial reversal (for example, after a return); view full reversal history; jump to the associated order.

Who can open these screens

All three screens are for the store owner (super admin) and store admins. A team member with any other role who opens Payouts or Settlements gets an access-denied screen. On the v2 skin, Transfers shows a styled message instead (superadmin only. — "Transfers are only accessible to superadmins.") and the Payouts / Settlements / Transfers tabs are hidden on that screen, so it does not offer pages you cannot open. See Team: People, Seats & Access to change someone's role.

I can't find Settlements or Transfers in the sidebar

On the v2 skin they are no longer sidebar items. Open Finance → Payouts, then select the Settlements or Transfers tab under the page title. The dashboard's Cash in card also has a Settlements button that opens the Settlements tab directly. If you are on the classic skin, look under Finance in the sidebar instead. If the tabs are missing entirely, you are on a screen shown without them, such as the Transfers permission message above, or your role is not owner or store admin.

On the v2 skin the command palette (⌘K on Mac, Ctrl+K elsewhere) still finds the two tabs by name even though they are no longer sidebar items. Type Settlements or Transfers and pick Go to Settlements or Go to Transfers to open that tab directly. The palette follows the sidebar: it offers these commands to the same people who see Payouts in the sidebar (the store owner and store admins), and a team member on another role, who has no Payouts item, does not get them. As above, Go to Transfers still lands on the superadmin-only message unless you are the store owner.

When Payouts says your account needs clarification

If Razorpay needs more from you, the KYC status on Finance → Payouts reads needs clarification (or suspended) and a warning appears under it. It no longer shows only a general sentence. It reads Razorpay needs the following to finish verifying your account: and lists one line per item, each with the field and the reason, for example Bank IFSC code - This detail is missing, Business PAN, GST number, Bank account holder name, or Document: ... for an uploaded document with The uploaded document could not be verified. The reason is one of This detail is missing, A required document is missing, The value provided is invalid, Razorpay needs more information or The uploaded document could not be verified.

Read the list

Open Finance → Payouts. On the classic screen the list sits under the KYC status card. On the redesigned screen it sits in the payout setup step that says your account has been submitted for review.

Fix each item

If a line has a Resolve link, select it. It opens Razorpay in a new tab so you can supply that item. A line with no Resolve link has to be fixed in your Razorpay dashboard or by editing the business details here (Edit business details on the redesigned screen).

Refresh

Select Refresh Status on the classic screen, or Refresh KYC on the redesigned screen. The status and the requirement list update from Razorpay, and a toast reads KYC status refreshed. Items you have fixed drop off the list. Repeat until the status shows activated.

The warning only shows the general sentence

If Razorpay returned no itemised list, or your account was last checked before the list was stored, you see the older sentence Your account requires attention. Please check your Razorpay dashboard or contact support. Select Refresh Status (or Refresh KYC) once to load the list. If refreshing shows We couldn't check your verification status just now, your details are saved, so wait a minute and retry. Refresh Status is hidden once the account is activated.

If you're connected using your own Razorpay account (merchant mode), the Payouts screen shows a banner confirming which account is active, with a link back to the Razorpay plugin screen. On the platform-managed (pooled) option, this banner isn't shown — settlements flow through BillionBiz's own Razorpay account and reconcile separately.

Troubleshooting: Payouts aren't enabled on the payment account yet

If adding the stakeholder and bank details, activating payouts, or saving the payout configuration fails with Payouts aren't enabled on the payment account yet. Please contact support., the payment account itself does not have payouts switched on at Razorpay. Nothing is wrong with the details you entered. This replaces the bare Access Denied that Razorpay used to return. Contact BillionBiz support so payouts can be enabled on the account, then repeat the step. Other Razorpay errors, such as an invalid field, are still shown with their own text.

v2 skin: extra Payouts and Settlements actions

On the newer v2 skin, the Payouts and Settlements screens add a few actions not present on the classic skin:

Payouts — export: a toolbar button downloads every payout currently in view (respecting the active tab/date filters) as a CSV with payout ID, initiated/settled date, gross, fees, net, status, and bank reference.
Payouts — per-row menu: each payout row has a kebab menu with download statement (a per-payout CSV), view bank detail (opens the payout detail drawer below), and dispute (currently a "coming soon" placeholder).
Payouts — detail drawer: opening a payout shows its fees breakdown (gross amount, platform fees, net to bank) and a status timeline (initiated → processing → paid).
Settlements — detail drawer: opening a settlement shows its summary and fee breakdown, plus an instrument mix section (the split by UPI, cards, netbanking and wallet). That section currently always reads Detailed breakdown isn't available yet: the per-settlement split is not available from the platform yet, so the drawer does not request it when it opens, and there is no failed load to retry. This is expected, not an error. The rest of the drawer (summary and fee breakdown) is unaffected.
Settlements — sync settlements: a toolbar button re-fetches and reconciles your settlement data directly from Razorpay, for when a settlement doesn't appear yet.
Settlements — instant settle: for a settlement that's still in transit, both the row's kebab menu and its detail drawer offer an instant settle action that pulls the funds into your bank account early, for a fee, instead of waiting for the normal settlement cycle.

None of these v2-only actions are available on the classic skin yet.

Reading the numbers on the new Finance screens

The summary tiles and the line under each page title on the v2 skin do not all cover the same period. Check the tile's own label before comparing two figures.

Screen	Figure	What it counts
Settlements	Title line N settled to date · N statements, and the settled to date tile	The lifetime total of settled batches, taken from the settlement summary. It is not limited to this month or to the rows on screen. The statement count is the number of Settled batches among the most recent 100 settlements the screen loads, so it stops growing on a very long history while the amount keeps counting everything.
Settlements	in transit, on hold, fees deducted, balance available tiles	Added up from the most recent 100 settlements the screen loads (fees deducted is fees plus tax on fees). balance available is the net of the settled rows loaded.
Settlements	daily settlements — last 30 days chart	Settled rows among those same loaded settlements, by settled date over the last 30 days.
Transfers	Title line N transfers processed to date · amount moved	Both the count and the amount come from the same lifetime summary of processed transfers, so the two always describe the same set.
Transfers	transferred tile (sub-line this month, net of reversals)	A separate this-month figure: processed and partially reversed transfers created since the first of the month, with reversals subtracted.
Transfers	pending, failed, reversed tiles	The status counts from the transfer summary.
Payouts	paid this month tile	Paid payouts settled in the current calendar month, from the payouts loaded on screen.
Payouts	failed vendor transfers tile	The number of failed vendor transfers (money movements to vendors). It is not a count of failed payouts or settlements. A dash means the count could not be loaded, which is different from zero.

Settlement and payout amounts are shown in rupees exactly as stored. The tables, drawers and the Payouts tiles always show two decimals (₹20,000.00). The compact tiles and chart axis on Settlements (settled to date, in transit, on hold, fees deducted, balance available) keep whole-rupee amounts bare (₹20,000) but show paise when the amount has any and is under ₹1 lakh, for example ₹11.80 (never ₹11.8). From ₹1 lakh up they use the shorthand ₹L for lakh and ₹cr for crore, such as ₹1.5 L.

Why doesn't the settled figure match my Transfers or Payouts numbers?

They measure different things. settled to date on Settlements is lifetime Razorpay settlement batches, while transferred on Transfers is this month only, and paid this month on Payouts is the current calendar month. The Transfers title line is lifetime again. If in transit, fees deducted, or balance available looks low, remember they add up only the 100 most recent settlements the screen loads. If a batch you expect is missing altogether, use Sync settlements to fetch it from Razorpay.

Refunds: returning money to a customer

When a customer requests a refund — a returned item, a cancelled order, or damage in transit — you review the request in the Returns & refunds section of the Orders area:

The request arrives with status Pending, showing the requested amount, items, and reason.
You (or your staff) approve or reject it — an approved amount can be set for a partial refund.
Once approved, BillionBiz instructs Razorpay to return the money to the customer's original payment method — the same card, UPI account, wallet, or bank account they paid with.
Razorpay processes the reversal; the customer typically receives funds within 5–7 business days.
The original payment updates to show partial refund or full refund status.

The refund always routes back through the same Razorpay account that originally collected the payment, so the money trail stays clean.

A completed refund also generates a credit note automatically — a sequentially numbered, immutable document emailed to the customer as a PDF. See Credit notes for the full behavior.

Tip

For the full refund approval workflow and admin queue, see Refunds.

Multi-currency support

BillionBiz supports selling in multiple currencies. You choose which currencies are enabled for your store and can set a different price per product per currency — customers see prices in their selected currency instead of a converted estimate.

Go to Settings → General (called Settings → Preferences → Store defaults in the new admin sidebar) to set your Default currency — choose from Indian Rupee (INR), US Dollar (USD), Euro (EUR), British Pound (GBP), UAE Dirham (AED), or Singapore Dollar (SGD).

The default currency acts as your store's primary currency and the fallback when a customer hasn't selected one — it's also the currency used for your reports and analytics.
If a product has no price set for the customer's chosen currency, the base price is used instead.

Note

Automatic exchange-rate conversion and a markup percentage on converted prices are part of the platform's currency design, but no dedicated screen for configuring them was found in either admin skin as of this writing — treat that capability as not yet exposed to merchants rather than something you can configure today.

Automatic invoicing

An invoice generates automatically when the money actually moves — no manual work required in the normal case:

Order type	Invoice generates
Paid online at checkout	The moment the payment is confirmed.
Cash on Delivery	Once the courier's cash is reconciled (COD remittance), or as soon as you record the full payment yourself — see Recording a payment manually. A COD order sitting unpaid intentionally has no invoice yet — that's expected, not a bug.
Net terms	Immediately, at order creation — the invoice finalizes with a due date up front, even though payment is deferred. See Net terms for how the due date is set, and how it can be reissued.

Regardless of order type, an invoice is regenerated if the order is edited or you request it from the order detail screen, and:

Contains store details, order number and date, customer and billing/shipping details, a line-item breakdown, and totals (subtotal, discount, shipping, tax, total).
Each invoice gets a unique, sequential invoice number that never changes once assigned — numbers are scoped per store so there are no collisions between merchants.
Downloadable as a print-ready PDF from the customer's order history and from the admin order detail screen, and attached automatically to the order-confirmation email.

Troubleshooting: why doesn't this order have an invoice yet?

Check the order's payment status first. A Cash on Delivery order with no payment recorded yet, or a net-terms order that somehow never finalized (rare — flag it if you see it), won't have an invoice. Once payment is confirmed — online, via COD remittance, or by recording it manually — the invoice generates on its own within moments. You don't need to trigger it by hand in the normal case; use Generate invoice on the order's Invoice ▾ menu only if it genuinely never arrived — see Invoice actions.

Tip

To change what an invoice looks like — layout, branding, bank details, custom fields, or the document title — see Customizing Your Invoice.

Next steps

Plans & Billing — your own subscription plan, usage, and payment history.
Customizing Your Invoice — the invoice builder, in full depth.
Refunds — the full refund approval workflow.