Razorpay Accounting in ERPNext

##Scenario Here's a case where we received payment from a Customer in Razorpay : After some days, we received the Settlement of this money in our Bank:

##Solution How do we make entries for these transactions in ERPNext? Following is a flow of how it can be done:

1. First, we need to create a Payment Entry against the Sales Invoice. This would be a standard ERPNext entry. We either create a new Payment Entry from the Sales Invoice or crate a new Payment Entry directly and add reference of the Sales Invoice against which we would be receiving payments. The Mode of Payment in this case would be Razorpay. This will debit the Razorpay account and credit the Debtors account. If there's any Exchange Gain/Loss, it would be captured in the same Payment Entry and a Journal Entry will be auto-created. Through this entry, we have received the money in our Razorpay account.
2. We would ultimately receive this money in our Bank Account when initiates the Settlement.
3. For this, since both the accounts(Razorpay and Bank) are our own Asset accounts, we would be required to transfer money from one account to another. As per ERPNext standards, this should be done through Payment Entry of Type - Internal Transfer.
4. We create a new Payment Entry and transfer the amount from Razorpay Account to our Bank Account(HDFC). Here, there would be a difference in what we'd be transferring from our Razorpay account and what we would be receiving in our Bank Account. This difference would be the charges deducted by Razorpay(with GST).
5. The amount deducted by Razorpay, will be added in the Deductions or Loss child table. We would choose the account 'Razorpay Charges' for booking the charges.(Yes, even GST amount would be booked in the Razorpay Charges account.)
6. We would receive a monthly invoice from Razorpay on the last day of the month. They will include all the Razorpay Charges they deducted while making the Settlements. Now, we've an invoice from Razorpay which has all the charges that were deducted throughout the month and the total GST charged on these charges.
7. For this, we would simply create a Purchase Invoice. This would include all amounts as per Razorpay's monthly invoice. Now we have the Razorpay Charges booked correctly in the Items table and also the GST booked correctly in the Taxes and Charges table. Also, the Creditors account was hit for Razorpay.
8. From step 6, we'd recall that Razorpay Charges was already booked and this did not exclude GST. Everything was booked in Razorpay Charges. This seems the Razorpay Charges were booked twice. So, we would use this step 6 Razorpay Charges amount and strike off the Creditors account.
9. We will create a Journal Entry to settle the double Razorpay Charges booked and also the Purchase Invoice of Razorpay. We will debit the Creditors account using the Purchase Invoice as the reference and credit the Razorpay Charges which was incorrectly deducted in the Payment Entry(We don't have to select the Payment Entry as reference over here).
10. This would settle the Purchase Invoice, as well as Razorpay Charges and GST.