Accounting portal - managing payout, design each balance type and automize send outs

Accounting Portal - https://accounting.sweetspot.io/

1. Sign in

2. Walkthrough

3. FAQ

1. Sign in

To access any part of Sweetspot Accounting, you'll need to log in using a one-time password (OTP) sent to your provided email address.

If you attempt to log in with an unregistered email, you'll be notified that no user account exists for that address. Contact your accounting responsible to gain access. If your organization is new to Sweetspot, please contact our support through hello@sweetspot.io and we will set up your account.

The e-mail looks like this, with the OTP code:

2. How payments and payouts work 

When a customer pays you through Sweetspot, the money does not go straight to your bank account. It passes through three stages, and each stage has its own time. Knowing these three times makes it much easier to match a payout to the sales behind it.

The three times

1. Transaction Time: when the customer paid

This is the moment the customer completed the payment, for example when they booked a tee time or bought a bucket of balls.

2. Settlement Time: when the money becomes available

Our payment provider groups all payments from the same day together. Two business days later, that group of payments becomes available on your balance account. Business days are Monday to Friday, so a payment made on a Friday, Saturday or Sunday becomes available on Tuesday.

Your balance account is not your bank account. It's the account our payment provider holds for your business, where your money collects before it's paid out to your bank.

The two-business-day wait is the same for every card type and wallet (such as Apple Pay and Google Pay), in every country.

3. Payout Time: when the money is sent to your bank

On your payout schedule, everything available on your balance account at that point is sent to your bank. Depending on your bank, it may take another day or two before the money shows up in your bank account.

Why one payout contains several days of sales

Settlement and payouts run independently of each other. A payout doesn't send "Monday's sales". It sends everything that has become available since the last payout. That's why a single payout contains sales from several different days.

Weekly payouts (most common)

Most of our customers are paid out once a week, on Monday. Because of the two-day wait, a Monday payout does not contain the Monday-to-Sunday week before it. It contains sales from Friday the week before last up to and including last Thursday:

Thursday's sales become available early on Monday, before the payout is sent, so they make it into that Monday's payout. Friday-to-Sunday sales become available on Tuesday, one day too late, so they wait for the next Monday.

Daily payouts

Daily payouts run Monday to Friday. A normal week looks like this:

So Tuesday's payout is typically the largest of the week, because it contains three days of sales.

Monthly payouts

The same rule applies: the payout sends everything that has become available by the payout date. Sales from the last two business days before the payout date (plus any weekend in between) aren't available yet, so they go into the next month's payout.

Bank holidays

Bank holidays don't change when your money becomes available or when the payout is sent. They can delay when the money arrives in your bank account, because banks don't process transfers on those days. Which days count as bank holidays depends on your country.

Where the "day" starts and ends

Our payment provider counts a sales day from midnight to midnight in the time zone your balance account is set up in. For most of our customers this matches their own local day, so a payout lines up neatly with whole calendar days.

If your balance account's time zone is different from your local time zone, the day boundary falls at a different hour for you. For example, for a balance account set to Swedish time used by a club on the US East Coast, Swedish midnight is 6:00 pm local time. Each sales day then runs from 6:00 pm to 5:59 pm local time, and one calendar day of your sales is split across two payouts. That can look odd at first, but nothing is missing or counted twice. Every payment is included in exactly one payout.

Find your payout schedule and time zone

You can see your payout schedule and your balance account's time zone in the Accounting portal under Settings → Payouts.

How this looks in the Accounting portal

In the transaction details you'll find the three times on every transaction:

• Transaction Time: when the customer paid. This is filled in right away.
• Settlement Time: when the payment became available on your balance account, two business days after the sale.
• Payout Time: when that payment was paid out to you. This field is empty until the payout has happened. We receive confirmation of payouts from our payment provider overnight, and the Payout Time is filled in by the following morning.

It's normal for Payout Time to stay empty for a while. With a weekly payout, a sale made on a Friday is paid out on the Monday ten days later, so its Payout Time shows up eleven days after the sale.

You can filter on either time, depending on the question you want to answer:

• "What's in this payout?" Filter on Payout Time to see every transaction in a specific payout, and which sales days it contains.
• "When did these sales get paid out?" Filter on Transaction Time to see a day or a period of sales, and which payout or payouts they ended up in.

Tip: If your balance account's time zone is different from yours (see "Where the day starts and ends"), each calendar day of your sales is split across two payouts. To see your sales per calendar day, filter on Transaction Time instead of Payout Time. You can also add Transaction Time as a column in the report settings of the Accounting portal, so each transaction's time is shown directly in the report.

Frequently asked questions

Why is my payout smaller than my sales?

Fees, refunds and chargebacks are deducted before the money is paid out. The payout is what's left on your balance account after those deductions. You can see the fees on each transaction in the transaction details.

Payout Time is still empty on a transaction. Is something wrong?

Usually not. Payout Time is only filled in the morning after the payout. Depending on your payout schedule, that can be up to eleven days after the sale for weekly payouts, and longer for monthly payouts.

The payout was sent, but the money isn't in my bank account yet.

Your bank can take another day or two to process the transfer, and longer over weekends and bank holidays in your country.

Why is this week's payout so different from last week's?

A payout contains the sales that became available since the last payout, not the sales of one calendar week. Look at which sales days it contains by filtering on Payout Time, then compare Transaction Times.

Which payout does a refund end up in?

A refund follows the same timing as a sale, counted from the day the refund was made, not the day of the original sale. For example, with weekly payouts, a refund made on a Wednesday is deducted from the Monday payout five days later.

Why is one calendar day of sales split across two payouts?

Your balance account's time zone is probably different from yours. See "Where the day starts and ends" above.

Can I change my payout schedule?

Yes. Contact Sweetspot support.

Summary

• Every payment has three times: Transaction Time, Settlement Time and Payout Time.
• Money becomes available on your balance account two business days after the sale, and a payout sends everything available at that time.
• A weekly Monday payout contains sales from Friday the week before last up to and including last Thursday.
• Bank holidays don't delay the payout itself, only when it arrives in your bank.
• Payout Time in the portal stays empty until the payout has happened, then it's filled in the following morning.