Payment, settlement and payout reports for LRS

This page explains the three reports you use to reconcile LRS remittances: the Payment Report, the Settlement Report and the Payout Report. It covers what each payment status means, what "funds available" means, and how to tell whether a payment has been settled to you.

This page applies to Resident India Remittance under LRS only. All times are in IST.

All three reports are downloaded from the dashboard under Reports as CSV, and can be scheduled for daily email delivery.

Every attempt an investor makes is a separate payment with its own id. If an investor fails once and then pays successfully, that is two payments: one failed and one success.

The id of a payment in the Payment Report is the entity_id of that payment's line in the Settlement Report. That is the key that joins the two reports. See Check whether a payment has been settled.

The Payment Report lists your payments for the selected date range, with each payment's status. Use it to:

• Track every payment's status.
• See which successful payments have funds available.
• Find the id you use to match a payment to its settlement.

How a payment moves between statuses:

• in_progress → success or failed. Almost every payment follows this path.
• in_progress → action_required, and then:
  • back to in_progress, or
  • to under_review, and then back to in_progress or to failed, or
  • to failed.

Funds available is a true/false flag on a successful payment. It applies to accounts with daily settlement or per-payment payouts.

• false: the investor's bank has processed the payment, but Glomo has not yet matched the funds to it. They cannot be settled or paid out yet.
• true: Glomo has received the funds and matched them to this payment. They are in your Glomo balance.

Glomo matches incoming funds to payments in batch runs on working days, so the flag changes from false to true only when a run picks up the payment, not at the moment it succeeds. There are no runs on weekends or bank holidays, so a payment that succeeds on Friday evening is marked available on the next working day at the earliest.

A failed payment never has funds available.

You can read the same flag in three places:

• The Payment Report.
• The funds_available field on the payment object.
• The payment.funds_available webhook. This is the event to act on, for example to grant buying power.

A settlement is a single transfer from Glomo to your registered account, such as your GIFT City account or your US broker. Each settlement has an id that starts with setl_. The same ID is the settlement_id on each payment it includes.

A settlement includes every payment that is due for settlement that day. That is every payment whose funds became available on the previous working day, plus any earlier payment that has not been settled yet. On accounts with a same-day window, the afternoon settlement also includes payments whose funds became available that day before the window. A settlement can also include debits for some payouts, such as withdrawals back to investors.

The Settlement Report has one line for each payment and each payout debit in a settlement. A payment's line has the payment id as its entity_id.

The settlement amount sent to your account is the total of its lines, after payout debits and fees are deducted.

See Settlement webhooks.

On an account with daily settlement, a payment has been settled when all of these are true:

1. Its status is success.
2. Its funds available flag is true.
3. It appears in the Settlement Report, with its id as the entity_id of a line.
4. That settlement has reached success.

success does not mean the money has arrived. It means the investor's bank has processed the payment. Funds reach Glomo later. Use funds available, not success, to grant buying power or treat the money as received.

A payment is settled on the working day after its funds become available. Weekends and bank holidays are not working days, so funds that become available on a Friday are settled on the next working day. See Settlement holidays for the dates.

Use this table to read any payment:

1. Download the Payment Report for the day you want to reconcile. Keep only rows with status success.
2. Split them by funds available. Rows still false are not due for settlement yet. Check them again the next working day.
3. Download the Settlement Report for a range that starts on the same day and runs at least three working days later. A payment is settled on the working day after its funds become available, so its settlement can fall days after the payment.
4. Match the reports. Join the Payment Report id to the Settlement Report entity_id.
5. Check every row. Each successful payment with funds available should have exactly one Settlement Report line. If a payment with funds available is still missing from the Settlement Report after its next working day, raise it with Glomo support, quoting its id.
6. Tie out to your bank. For each settlement, total its lines after payout debits and fees are deducted. The result should equal the amount credited to your account under that settlement's utr.

A payout moves money out of your Glomo balance to a beneficiary's bank account. The Payout Report has one row per payout. For LRS, payouts appear in two cases:

• Withdrawals back to an investor. When an investor withdraws money, you create a payout to their Indian bank account. It is paid from your Glomo balance. See Withdraw an LRS remittance back to the investor.
• Per-payment payouts. On accounts with per-payment payouts, Glomo creates one payout for each payment as soon as its funds become available.

On accounts with daily settlement, some payouts are also deducted inside a settlement and appear as a debit line in the Settlement Report.

Payout statuses are described in Payout life cycle.

Every LRS payment goes through in_progress and success in the same way. What happens after that depends on how your account is set up, and that decides which report shows the money reaching you. Your Glomo account manager can confirm your account's set-up, including if your successful payments show none of the events below.

On accounts with per-payment payouts or direct credit, the credit to your beneficiary happens in the same working-day runs as funds available. payment.credited_to_beneficiary is the event that tells you the money has reached your beneficiary account.