Settle up for waffle (3)

I believe the answer is:
yap
'waffle' is the definition.
The answer and definition can be both to do with communicating as well as being verbs in their base form.
Maybe they are linked in a way I don't understand?
'settle up' is the wordplay.
'settle' becomes 'pay' (paying is a kind of settling).
'up' shows that the letters should be reversed in order (in down clue: letters go upwards).
'pay' in reverse letter order is 'YAP'.
'for' acts as a link.
Can you help me to learn more?
(Other definitions for yap that I've seen before include "Shrill bark; rhymes with chart" , "Complain shrilly" , "Shrill bark; wage reversed" , "Bark sharply" , "Small dog's sound" .)
