Fee correctly charged:
Opayo ensures that the fees billed align precisely with the rates outlined in the Rate Card, offering transparency and accuracy in financial transactions.
Fee overcharged:
Instances where Opayo’s fees surpass the calculated amounts specified in the Rate Card, potentially leading to financial discrepancies for businesses.
Fee undercharged:
In situations where Opayo’s fees fall below the calculated amounts stated in the Rate Card, potentially resulting in unexpected financial implications for businesses.
Tax-correctly charged:
Opayo accurately records taxes in the Payment Report, adhering to GST guidelines and ensuring compliance with regulatory standards.
Tax- overcharged:
Occurrences where the taxes recorded in the Payment Report exceed the calculated amounts based on GST guidelines, necessitating further scrutiny to rectify discrepancies.
Tax- undercharged:
Instances where the taxes recorded in the Payment Report are lower than the calculated amounts based on GST guidelines, highlighting potential compliance issues that require attention.
Settlement UTR not present:
Identified in the Settlement report, the absence of a Unique Transaction Reference (UTR) warrants investigation to ensure completeness and accuracy in financial records.
Settlement amount match:
Following deductions for fees and taxes, the settlement amount reported aligns precisely with the calculated total, demonstrating consistency and reliability in financial reporting.
Settlement amount mismatch:
Inconsistencies arise when the settlement amount reported fails to correspond with the calculated total after deductions, prompting further investigation to reconcile discrepancies.
Settled in bank account:
It is imperative that the UTR referenced in the settlement report also appears in the corresponding Bank Statement, ensuring seamless tracking and reconciliation of financial transactions.
Not settled in bank account:
Instances where a transaction’s UTR is present in the settlement report but remains absent from the bank statement, requiring thorough investigation to address potential discrepancies or processing errors.