An unmatched receipt: the first five checks

An unmatched receipt is an observation, not yet a cause. Calling it a shortage too early can waste investigation time and damage trust between licensing and finance teams. Start with the mechanics of how the money and reference move.

1. Check the cut-off window

A receipt issued late on the final business day may settle in the following bank period. Compare transaction time, settlement batch close and ledger posting date. Record the timing rule you used so the item does not return as an unexplained difference next month.

2. Normalise the reference carefully

Application numbers may gain prefixes, lose leading zeros or change when an application moves between categories. Preserve the original values, then use a documented normalised field for matching. Never overwrite the source reference.

3. Inspect settlement batches

Card and online payments may reach the bank as one net settlement. Match the receipt to the provider’s transaction detail, then prove the batch total to the bank. Fees withheld by a payment provider should have their own accounting treatment rather than being forced into the application fee amount.

4. Trace reversals and reissues

A reversed receipt may have a replacement under a new number. Check authority, reason, date and the linked application. A reversal without a replacement is different from a corrected receipt and should be classified accordingly.

5. Search ledger allocation and suspense

The cash may be present but posted to the wrong fee class or held in suspense. Search by amount, date window, payment reference and batch total. A misallocation still requires correction, but it is not missing cash.

Only after these checks should the reviewer determine whether evidence is absent, the collection was not deposited, or the population itself is incomplete. The exception register should show the checks performed and the evidence still required.