Everything you need to know about payouts? Find the answer here!
Difference between order placement and payout
On average, there is an 11-day gap between the moment a consumer places an order and the moment Paylogic receives the funds, making them ready for payout. This timeframe depends on the chosen payment method. The funds travel from the consumer's bank to the payment method's bank. From there, the ticket revenue goes to the Payment Service Provider - the intermediary between the payment methods and Paylogic - before finally being transferred to Paylogic.
This delay is not reflected in the sales statistics in the Backoffice, as they show real-time data. Due to the processing of ticket revenue by various parties and the associated delay, it is unfortunately not always possible to include all tickets sold (as seen in the Backoffice) in the next payout. For payouts and ticket counts, invoices are always decisive.
Payout day
Payouts are made on Wednesdays by default. Each customer is assigned a specific Wednesday of the month for payouts. When a payout occurs, the transfer to the bank is initiated on Wednesday. The day of receipt depends on the receiving bank. Usually, this is the same Wednesday or Thursday. However, for international banks, it may take a few extra days.
Ticketing revenue
Ticketing revenue refers to the total ticket revenue collected based on ticket values. In other words, it's the number of tickets sold multiplied by the ticket price.
Service fees
If you've chosen to charge service fees to fans when they purchase tickets, these fees will appear on the invoice similar to the tickets. Depending on the configured service fees, these can be per ticket or per order and can be either a percentage or a fixed amount (or a combination of both).
For online tickets, the agreed-upon Service Fee is charged. The agreed-upon See Tickets Fee excludes VAT, which is added to the invoice. The See Tickets Fee is automatically deducted from the funds to be paid out.
Transaction fees
Depending on the agreement, transaction fees may appear on the invoice. If Paylogic collects transaction fees, they will appear as a negative amount on the invoice, indicating that they are automatically deducted from the funds to be paid out. If fans are responsible for transaction fees, all passed-through transaction fees will appear as a positive amount to offset the fees charged by Paylogic.
Refunds and chargebacks
Refunds and chargebacks may occur during the event. These will appear on the invoice and be offset against the funds to be paid out. A refund/chargeback will appear in multiple places on the invoice. They will be deducted from the ticketing revenue, and costs will appear under service and/or transaction fees.
VAT
The amounts included in Paylogic's credit invoices have two types of VAT. The first is the VAT added to the See Tickets fee, specified under "See Tickets fee".
The VAT for Service fees is separately listed under "Total". This results in the amount excluding VAT being higher than the amount including VAT. This is because it's VAT on costs, increasing the total amount deducted. As a result, less is paid out. This may seem counterintuitive, as people are used to seeing a higher amount for an inclusive VAT total.
The VAT charged for Service fees can be reclaimed through regular VAT returns since it's a Business-to-Business transaction. Your tax advisor can assist with this. The VAT included in the ticket values must be reported by the event organizer themselves. Paylogic merely acts as a party that receives and disburses the funds for the event organizer. Therefore, the responsibility for correct reporting lies with the event organizer. Paylogic does not make statements about the VAT rates applied by the event organizer.
External payments
External payments appear on the invoice when a third party is used to collect funds. This applies, for example, when using Festicket. In this case, funds are not received in Paylogic's account, but only tickets are issued via the Paylogic system. Currently, the system treats this as a regular sale, with revenue appearing under tickets/service fees, etc. Since Paylogic does not receive funds for these sales, these tickets cannot be paid out to the promoter. This is addressed by deducting an amount under "External payment" at the bottom of the event's specifications on the invoice.
Rounding differences
In Paylogic's automated process, four decimal places are used. On the invoice, these amounts are rounded to two decimal places, which can result in differences. If there is a discrepancy due to rounding, the amounts charged to the consumer and the amounts deducted on the invoice are equal. This ensures that the customer is not disadvantaged. This situation only occurs when the Paylogic Service Fee is passed on directly to the consumer since a VAT rate must then be applied.
If you still have questions, feel free to contact us using the button at the bottom of the page.
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