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The new Autopay system improves payment handling by reducing errors, simplifying fund tracking, and ensuring seamless payouts. This document explains the key changes, benefits, and processes to ensure smooth adoption. |
1.
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Payment Transfers
Old System: Payments entered a "pending balance," moved to "available" the next day, and deposited on the following banking day.
New System:
Payments are routed to an escrow account immediately.
Funds are distributed after two banking days to ensure accurate reconciliation.
No more "pending balance."
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Upon batching pending funds are stored in the DeliverLogic Stripe escrow account
The following banking day those funds are held for processing
The second banking day these funds are distributed to appropriate Stripe accounts, including but not limited to:
Restaurant Partners
Drivers
Merchant of record / Client
On the third banking day OR as scheduled, funds will be deposited to bank accounts
Deposits will be LESS the amount stated in the Escrow feature *** THIS IS NEEDED IF YOU’RE USING ISSUING CARDS (Pay on Pickup or Pay Online)
There will be no more "pending balance”
2. Simplified Payment and Refund Processing
This eliminates partial deposits from a single day being distributed over multiple days.
Eliminates cross-pay issues.
Refunds are processed directly from the escrow account, ensuring no adjustments or pulls from distributed . This means payments made will no longer be pulled back from Drivers, Restaurants or any other connected partner accounts.
3. New Reporting
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Feature
Comprehensive Ledger Report includes:
All transactions by day.Credit card totals, pay
This report will track the following:
Credit Card totals
Gift Card totals
Refund totals
Disputes totals
Pay-on-pickup usage
Platform fees
Corporate payments
Driver earnings and payouts
Restaurant earnings and payouts
RDS Remaining Funds after deductions
We are also tracking any balance brought forward by an entity associated with your business, including your business (more information about this in the FAQ section at the bottom)
Reconciliation of balances with payouts for seamless bookkeeping.
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Benefits of the new Partner Pay system
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Actionable Steps For Upgrade
Setting Up Escrow and Payouts:
Daily Payout Setup:
Reserve specific amounts for daily operational needs:
Example: $500 for Monday, increasing amounts to cover weekend operations.
Navigate to
Payout Setup
and configure the required hold amounts for each day.
Weekly Payout Setup:
Ensure all transactions from the current week are reconciled by Thursday evening.
Funds will move to the Stripe account on Thursday for deposit on Friday.
Monthly Payout Setup:
Funds will be reconciled and moved for delivery before the 10th.
Ensure all transactions are completed by the end of the previous month.If you are not, skip to step 2
If the answer is Yes.
Set payment schedule to MANUAL on Sunday before your switch on Tuesday night. This will allow for funds to be held in your account and eliminate any potential Pay on Pickup and/or Pay Online card issues.
Run your Pay on Pickup / Online Usage report for Monday, Tuesday, Wednesday, Thursday, Friday - Sunday. We suggest doing this for 3 random weeks in the past 3 months to get an average usage of Pay on Pickup / Online cards.
Choose your long term payout schedule
Manual - Holds all funds in your available Stripe balance until you choose to deposit at any time
Daily -
Finally go and set up your Escrow balances for each day
*** MAKE SURE FRIDAY HAS BALANCE TO COVER FRIDAY/SATURDAY/SUNDAY!!!
During the transition you might experience a break in your cash flow due to the funds being moved from the Old to the New system. When you switch, you will get your past Thursday’s deposit on Monday
Do you use Pay on Pickup or Pay Online with Stripe cards?
Reviewing and Using the Ledger Report:
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Testing Phase: Ongoing until Q1 2025.
Planned Switch: February 2025 for all users.
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FAQ
Why are you holding funds for an extra banking day?
Why is balance brought forward by an entity associated with my business, including my business?
How will this affect my cash flow?
Funds will no longer be “pending” in your account
What happens if a holiday delays payouts?
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