Setting up and understanding Payouts.
Admin > Card Processing > Payouts
Payouts
The term payout is synonymous with deposit. A payout is a deposit into your Bank Account of your choosing. This can be set on an automated schedule, or you can initiate an instant payout and receive the requested funds on the same day.
Within Payouts is where you can set up automated payout schedule, initiate instant payouts, view and download your payout reports.
Settings:
In Payout settings is where you will choose the Bank Account and the Schedule for your payouts.
You have the option to send Payouts on Daily / Weekly (Tue&Fri) / Weekly / BiWeekly / Monthly / No automatic payout.
Payout:
This section gives you the control to manually initiate payouts on your own schedule
You will first choose the Bank Account you want to Payout into.
To Finalize payout you will choose priority Regular or Instant and enter in the amount of money you want to move into your Bank Account.
Instant moves the money on the same day. An instant payout comes with an additional fee of 1.75% of the amount being moved. This fee will be no less than .25 cents
Payouts History
The bottom of the Payouts window is the Payout History. For every Payout processed a report is generated.
Payouts occur on a T+2 model. That is Transaction + 2 days and the money will be available to be paid out.
The Payout total will not match your sales total. At the moment the transaction takes place. The agreed upon processing rates are split from the transaction.
The Payout total is your Sales Total - Processing Rates (% of sale + $ per transaction)
Reporting
Admin > Card Processing > Reporting
The Reporting window is where you can download automated reports. Here you will find your Payout reports in a downloadable format.
Reconcile Credit Card sales between the app and the amount deposited into your bank account using Payout Reports on a daily basis.
Bank Accounts
Admin > Card Processing > Bank accounts
As a part of the KYC you entered in the information of one Bank Account. This account is available to Payout into the moment you start using the application.
If you would like to add another bank account you can do so from within the application within the Bank Accounts window
To add another account click on the + button in the upper right
If you have 2FA set up for the Admin and Manager accounts you will be prompted to enter the Security Code texted to the phone attached to the account.
To set up 2FA
Follow the prompts to add another Bank Account. A warning will appear that the account has to be in your company's name
Terminals
Admin > Card Processing > Terminals
Within Terminals you can find and filter all Terminals assigned to your store(s)
To Order Card Readers go to imrchnt.com under the Hardware tab to request a quote or email us directly at support@imrchnt.com
Here you can assign a terminal name by clicking on the Pencil icon to Edit Terminal
Or you can enable Tipping by terminal by clicking on the Gear icon
For more on setting up Tipping
Chargebacks
Get notified and dispute Chargebacks in app