Want to know everything about payouts? You’ll find the answer here!

Difference between time of ordering and payout

Between the moment an order is placed by a consumer and the  moment the money is received by Paylogic and therefore ready for payout, there is an average delay of 11 days. This depends, among other things, on the chosen payment method. The money goes from the consumer’s bank to the bank of the payment method. From there, the ticket revenue goes to the Payment Service Provider – the organization that sits between the payment methods and Paylogic – and is then finally transferred to Paylogic.

This delay is of course not visible in the sales statistics in the Backoffice, as these show real-time statistics. Due to the processing of the ticket revenue by the different parties, and the delay that comes with that, it is unfortunately not always possible to include all tickets sold (as visible in the Backoffice) in the next payout. For paid-out funds and ticket quantities, the invoices are always leading.

Payout day

Payouts are processed on Wednesdays by default. For each customer it is defined which  Wednesday of the month this is. When a payout takes place, the bank transfer is submitted to the bank on Wednesday. The actual receipt date depends on the receiving bank. Usually this is the same Wednesday or the Thursday. In the case of a foreign bank, this may take several days longer.

Ticketing revenue

Ticketing revenue is the total ticket revenue that has been collected based on the  ticket values. In other words, the number of tickets sold multiplied by the value per ticket.

Service fees

If you have chosen to charge fans a service fee when purchasing a ticket, this will appear on an invoice in the same way as the tickets. Depending on how the service fee is configured, it will appear per ticket or per order. This can be a percentage, a fixed amount, or a combination of both.

For the See Tickets Fee (= service fee) a distinction is made between Online and Retail. For tickets sold online, the agreed Service Fee is charged.  The agreed See Tickets Fee is excluding VAT, which is added on the invoice. On the invoice, the See Tickets Fee is automatically deducted from the funds to be paid out.

Transaction costs

Depending on the type of agreement, transaction costs may appear on the invoice. When Paylogic charges transaction costs, these will appear as a negative amount on the invoice. This means that the transaction costs are automatically deducted from the funds to be paid out.  If it has been agreed that the fan pays the transaction costs, all recharged transaction costs will appear as a positive amount so that they are settled against the transaction costs charged by Paylogic.

Refunds and chargebacks

During the course of the event it may be necessary to process refunds and chargebacks. These will appear on the invoice and will be settled against the funds to be paid out. A refund/chargeback will appear in multiple places on the invoice. On the one hand they are deducted from the ticketing revenue, and on the other hand costs will appear under service and/or transaction costs.

VAT

The amounts included in Paylogic’s credit invoices contain two types of VAT. The first is the VAT that is charged on top of the See Tickets fee. These are specified under “See Tickets fee”.

The VAT on service fees is listed separately under “Total”. The consequence of this is that the amount excluding VAT is higher than the amount including VAT. This concerns

VAT on costs, which increases the total amount that is deducted. As a result, the payout amount is lower. This may feel counter-intuitive, because people are used to seeing a higher amount for an including-VAT amount.

The VAT charged on the service fees can be reclaimed through the regular VAT return, since this concerns a Business to Business relationship. Your tax advisor will know how to do this. The VAT that is included in the value of the sold tickets must be reported by the event organizer themselves. Paylogic only acts as the party that receives the money for the event organizer and then pays it out. The responsibility for correctly reporting this therefore lies with the event organizer. Paylogic does not make any statements regarding the VAT rates that should be applied by the event organizer.

External payments

External payments appear on the invoice when a third party is used to collect the funds. This applies, for example, when using Festicket. In this case, the funds are not received into Paylogic’s bank account, but only the tickets are issued through the Paylogic system.  Currently, the system treats this as a regular sale, where revenue appears under tickets/service fee etc. This happens in the same way a regular sale would appear on the invoice. Since Paylogic does not receive any funds for these sales, these tickets cannot be paid out to the promoter. This is resolved by deducting an amount at the bottom of the specification per event under the heading “External payment”. 

Rounding differences

In Paylogic’s automated process, four decimal places are used. On the invoice, these are rounded back to two decimal places for the customer, which can cause differences. If a deviating amount occurs due to this rounding, the amounts charged to the consumer and the amounts deducted on the invoice are the same. This means the customer is not disadvantaged. This situation only occurs if the Paylogic Service Fee is passed on 1-to-1 to the consumer

because a VAT rate must then be applied. 

If you still have any questions, you can contact us using the button at the bottom of the page.

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