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Authorization, capture, processor settlement, and bank posting are separate events, so their dates can legitimately differ. Preserve each date in its own field, follow the payment using a stable processor reference, and reconcile captured transactions through the processor’s settlement detail to the bank credit. Do not replace the authorization date with a later capture or cash date.

Why the dates differ

An authorization records issuer approval and typically reserves funds; it does not show that the merchant has received them. Capture is a later instruction to collect the payment, and clearing, settlement, and bank posting are further steps or records in the payment lifecycle. One card payment can therefore appear under different dates in an authorization log, processor report, and bank statement.

Provider field names are not interchangeable. Use the provider’s own definitions and retain the date basis and timezone used by its reports.

  • Authorization date/time: when the issuer approves the payment request.
  • Capture submission time: when the merchant or service asks the processor to take the payment. GOV.UK Pay exposes capture_submit_time when it has asked the PSP to collect funds.
  • Captured date: the provider’s record of when the PSP took the payment. GOV.UK Pay documents captured_date separately from capture submission time.
  • Booking date: in Adyen’s balance-platform reporting, when the payment is booked to balance accounts.
  • Value date or expected value date: when funds become available, or are expected to become available, under the relevant provider reporting. Adyen says this is usually later than the booking date.
  • Settlement date: provider-defined settlement information. GOV.UK Pay exposes settled_date and supports searching by settlement date.
  • Bank posting date: the date shown on the merchant’s bank statement. Verify it from the bank record rather than inferring it from a processor event date.

GOV.UK Pay explains that settlement data helps identify when an individual payment entered the bank account. Adyen’s Settlement Details Report is generated using transaction booking date in the merchant-account timezone, so the configured timezone and report period can affect which date appears in a report. See GOV.UK Pay’s reconciliation and reporting documentation and Adyen’s Settlement Details Report documentation.

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Which date should you use?

There is no single date that replaces the others. Use the date that answers the question at hand, and retain the full event trail:

  • For issuer approval history, use the authorization date/time.
  • For when collection was requested or recorded, use the capture submission time and captured date as defined by the provider.
  • For processor-side booking or funds availability, use the relevant booking or value date.
  • For identifying a payment’s entry into the bank under the provider’s reporting, use its settlement information; confirm receipt and posting against the bank statement.

Do not assume that searching a processor report by authorization date will find an item captured or booked later. Check the report’s documented date basis and use the transaction reference to trace it across periods.

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Reconcile a payment from authorization to bank credit

Build a transaction-level schedule before comparing totals. Include the provider transaction or payment reference, merchant reference if available, amount and currency, authorization date, capture submission and capture date, processor booking or settlement date, batch or payout identifier, fees and adjustments, net settlement amount, and bank posting date. Exact field names differ by provider. GOV.UK Pay documents payment and capture fields, settlement dates, CSV downloads, and payment search; Adyen documents transaction references and settlement reports.

  1. Match the payment record to the capture. Use a stable provider/payment reference and verify amount and currency. Keep authorization and capture dates in separate columns. Record capture submission and successful capture separately when the provider exposes both.
  2. Match the capture to processor settlement detail. Find the transaction in the provider’s transaction or settlement report. Note the report period, date basis, timezone, and any batch or payout identifier. Do not rely on the authorization date alone.
  3. Match the settlement batch to the bank credit. Compare the report’s net payable amount with the bank credit, accounting for fees, refunds, reversals, disputes, and adjustments as the provider presents them. Retain the batch or payout reference alongside the bank posting date.
  4. Log and investigate exceptions. For unmatched items, check late or partial captures, refunds, reversals, disputes, failed payouts, cutoff effects, and timezone differences. Keep the original transaction reference, the discrepancy, and the next expected evidence in an exception log. Carry a genuine timing difference as outstanding until a later report or bank record resolves it.

GOV.UK Pay supports payment search and CSV downloads, including filtering by settled_date. Adyen describes transaction and balance reconciliation reporting with separate booking and value dates. Use each provider’s field definitions rather than assuming that two similarly named dates mean the same thing.

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How to handle timing differences and period-end

A payment may be authorized in one accounting period and captured or settled in another. Preserve the original authorization record and reconcile later capture and deposit evidence to the same payment reference. The reviewed provider documentation does not establish a universal accounting recognition rule for this situation: revenue recognition depends on the entity’s accounting framework, policy, and facts. Retain the processor evidence needed to support the treatment selected under that policy.

Settlement timing is provider- and account-specific. Treasury’s federal Card Acquiring Service describes its own next-day availability and cutoff; that schedule is not a general rule for other merchants. GOV.UK Pay likewise points users to settlement reporting for payment receipt information. For an expected payout date, consult the documentation and account settings for the actual provider, then verify the bank record.

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Choose reports that support reconciliation

When assessing a processor’s reporting or API, check whether it provides:

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  • Stable transaction-level identifiers and exportable detail.
  • Separate capture, booking, value, and settlement fields where relevant.
  • A documented report date basis and account timezone.
  • Batch or payout references that can be tied to bank credits.
  • Useful filtering and access to the report or API history needed for your reconciliation process.

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