Skip to end of metadata
Go to start of metadata

You are viewing an old version of this page. View the current version.

Compare with Current Restore this Version View Page History

« Previous Version 5 Next »

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.

New Partner Pay 2025.mp4

1. Payment Transfers

  • Old System: Payments entered a "pending balance," moved to "available" the next day, and deposited on the following banking day.

  • New System:

    • 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. This means payments made will no longer be pulled back from Drivers, Restaurants or any other connected partner accounts.

3. New Reporting Feature

  • Comprehensive Ledger Report includes:

    • All transactions by day.

    • 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.

4. Flexible Payout Options

  • Daily Payouts:

    • Funds deposited with reserves for specific needs (e.g., pay-on-pickup cards).

    • Configurable to hold specific amounts for operational readiness (e.g., weekend demands).

  • Weekly Payouts:

    • Distributes funds on Friday following the previous week.

    • If Friday is a holiday, funds are deposited the next banking day.

  • Monthly Payouts:

    • Funds delivered before the 10th of each month.

Benefits of the new Partner Pay system

  • Streamlined processes: No pending balances; direct movement of funds.

  • Error reduction: Improved accuracy of payouts to restaurants and drivers.

  • Improved financial tracking: Clear, itemized reports for all financial activities.

  • Enhanced cash flow control: Flexible payout structures and fund reserves.

Actionable Steps For Upgrade

Setting Up Escrow and Payouts:

  1. Do you use Pay on Pickup or Pay Online with Stripe cards?

    1. If you are not, skip to step 2

    2. If the answer is Yes.

      1. 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.

      2. 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.

      3. Choose your long term payout schedule

        1. Manual - Holds all funds in your available Stripe balance until you choose to deposit at any time

        2. Daily -

      4. Finally go and set up your Escrow balances for each day
        *** MAKE SURE FRIDAY HAS BALANCE TO COVER FRIDAY/SATURDAY/SUNDAY!!!

  2. 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

Reviewing and Using the Ledger Report:

  1. Navigate to Financials > Ledger Report (Beta).

  2. Use filters to select specific date ranges or transactions.

  3. Review the following sections:

    • Credit Card Totals

    • Pay-on-Pickup Usage

    • Platform Fees (with order-specific details)

    • Driver Earnings, Cash on Hand, and Payouts

    • Restaurant Earnings and Payouts

    • Remaining Balances

Notes for Pay-on-Pickup Card Users

  • Orders for the current day won’t cover immediate purchases.

  • Build a reserve balance in the account to ensure uninterrupted operations:

    • Example: Hold $600 on Tuesday, $700 on Wednesday, etc., as per operational needs.

Adoption Timeline

  • Testing Phase: Ongoing until Q1 2025.

  • Planned Switch: February 2025 for all users.

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?

  1. Funds will no longer be “pending” in your account

What happens if a holiday delays payouts?

Funds will be deposited on the next available banking day. For example:

  • If Friday is a holiday, deposits occur on Monday.

  • If both Friday and Monday are holidays, deposits occur on Tuesday.

How does this system handle refunds?

Refunds are processed directly from the escrow account. This ensures no adjustments or disruptions to distributed funds.

Can restaurants opt for different payout frequencies?

Yes. Restaurants can choose between weekly and monthly payouts.