We now include more recent transactions in every payout.
Previously every payout on Friday included a week of transactions that processed seven days before the payout date (T+7).
Payouts now include a week of transactions that processed three days before the payout date (T+3). This means payouts now include payments from Saturday, Sunday, Monday and Tuesday.
All existing Paybox accounts have now transitioned to this new schedule, and new Paybox accounts will be created on this schedule.
This sounds like a good move. So normally I run a payout report from a Sat - Friday and this gives me how much the bank payment will be. I also explain this to outlets as they are forever questioning why the payout is different than the weekly statement they receive (Headache).
What date range will I now run? Sat through to a Tuesday? if payment is released on a Wednesday for payout out on Friday? Or would it be a Wednesday through to a Tuesday report?
Just want to get my head around it. I read the Knowledge base but am still a little lost and i want to be able to get my head around this before I start to try and explain it to clients who already do not understand why the payout is different to the statement.
Hi John, you can use the payouts by outlet report and set custom dates from Wednesday (the week before the Friday payout) to Tuesday (the same week as the payout). This will show the order volume and value of the orders, and the payout and deductions.
This little calendar shows you what days to use, the big blue dot is the payout and the blue outline shows the days you should select in the report calendar.
Is not possible to have a payout statement emailed to each outlet?
I know the weekly statement was going to be changed to include payout figures but I am assuning that wont happen now as payout dates have changed.
Would it be at all possible to get an automated weekly payout statement, like the weekly statement, to be emailed to the customers on the initiated payment day.
@kieron its still just one payment on a Friday, not two. It’s just now you get transactions that completed closer to the payout date. We have moved from T+7 (transaction plus seven days) to T+3.
@John invoices are not changing at this point but we are aware that we need to help outlets understand their payouts better and we will be making improvements soon. We are still looking into the best way to do this and a payout statement could be the way to go.
Been thinking about this all weekend. Now payouts will now initiated on a Wednesday. Why don’t Redbox just make the payments match the Monday auto statements so then nothing else needs to change? There would be a transition week to catch up where payments from a Sat to the following Sunday but after that payout amounts could match the Mondays Auto statement then that stops any and all confusion.
We are on T+3 which means our transactions become available to payout 3 days from they were created. Transactions are not processed on a Saturday or Sunday, and Monday is day 0. This means that transactions created on Saturday and Sunday become available on the same day as the transactions created on Monday.
Our invoices run Monday - Sunday, and we cannot create a weekly payout that matches this as our weekend transactions will always be bundled with the following Monday.
