The verdict in three sentences
The amount paid out (settlement) by your aggregator never exactly matches your total orders, because of fees withheld at source and timing lag (T+1 to T+3). Without reconciliation, you cannot tell whether a gap comes from a commission, a still-*pending* transaction, or an error. A daily reconciliation dashboard aligns orders and payouts and isolates the 2 to 5% of transactions to correct.
Why orders and payouts diverge
Three structural causes, none of them a bug: fees, timing, and transactions straddling two periods.
| Gap source | Effect on payout | Frequency |
|---|---|---|
| Commission withheld at source | payout < orders | systematic |
| Pending transaction at period end | order without payout | ~2 to 5% |
| Refund within the period | payout reduced | variable |
| Fixed fee per transaction | net erosion | systematic |
| Dispute / chargeback | temporary hold | rare |
Settlement delay per PSP
Timing explains much of the apparent gaps: a month-end order may only be paid out the following month.
| PSP (2026 order of magnitude) | Settlement delay | Fee model |
|---|---|---|
| CinetPay | T+1 to T+3 | withheld at source |
| Paystack | T+1 to T+2 | withheld at source |
| Flutterwave | T+1 to T+3 | withheld at source |
| PayDunya | T+1 to T+2 | withheld at source |
| Wave (direct API) | T+1 | monthly billing possible |
Withheld at source vs monthly billing changes the whole reconciliation: in the first case the payout is already net, in the second you receive gross and pay fees separately.
What the dashboard must show
1. Orders vs payouts, line by line. Each received payout is reconciled against matching orders; the gap is broken down between fees, refunds and pending.
2. Unreconciled queue. The 2 to 5% of transactions that do not match are queued for manual correction: this is the dashboard's real value.
3. Accounting export. A monthly export in a format your accountant can use (orders, fees, net paid) saves hours of re-keying.
4. Daily reconciliation. Reconcile daily rather than at month-end: gaps are handled while the information is still fresh.
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The Kolonell referral (apporteur d'affaires) program
Do you know merchants, restaurateurs or project owners who need a site or an online shop well integrated with payments? Become a Kolonell referral partner and earn a commission on every project signed thanks to you.
| Pole | Referral commission | Recurring |
|---|---|---|
| Showcase site | 15% | +5% recurring |
| E-commerce | 12% | per contract |
| Marketplace | 10% | per contract |
| Institutional | 8% | per contract |
On a 2,000,000 FCFA e-commerce project, that is 240,000 FCFA for a single successful introduction.
Mini case study
Aminata runs an online shop in Dakar via CinetPay, 700 orders/month, average basket 20,000 FCFA = 14,000,000 FCFA revenue. She thought 400,000 FCFA was missing from her account. Setting up daily reconciliation, she finds the gap breaks down as: ~280,000 FCFA commission (2% withheld at source), ~90,000 FCFA of pending month-end transactions (paid T+2 the next month), and ~30,000 FCFA of refunds. Not a single franc lost: just a perfectly explained gap, and a reconciliation that now takes her 10 min/day instead of 4 hours at month-end.
FAQ
Why doesn't the payout match my orders? Because of the commission withheld at source (often 1.5 to 3%) and end-of-period *pending* transactions paid the next month. It is structural, not an error.
What settlement delay should I expect? Depending on the PSP, T+1 to T+3. An order placed on the 31st may only be paid out on the 2nd of the next month.
How many transactions need manual correction? An order of magnitude of 2 to 5% unreconciled: pending, partial refunds, disputes. The dashboard isolates them.
How often should I reconcile? Daily. Monthly reconciliation accumulates gaps and makes investigation far longer.
How much does the referral program pay? From 8 to 15% of the project depending on the pole, e.g. 240,000 FCFA on a 2,000,000 FCFA e-commerce project.
Let's talk about your project. We build your multi-PSP reconciliation dashboard, or bring you on as a referral partner. WhatsApp +221 77 596 93 33.
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
