Overview
A payout adjustment allows you to charge or refund the owner for mulitple services performed on their behalf.
Examples of when to use a payment adjustment:
- The owner wishes to replace the sofa in his property. You buy the sofa and install it in the property. You want to invoice the owner to be refunded for the purchase and the service
- The owner wants you to water the plants in his property every week. You send an agent out every week to do it. You want to invoice the owner for this service
- The owner received less money than expected for a booking. You want to refund the owner for the difference
- You want to offer a discount on your commission to the owner. You want to refund the owner for some past/future commissions
This feature allows all financial transactions between the property manager and the owner to be integrated into RentalReady. Thus, they are all centralized on a single support.
N.B.:
- Each payoutt adjustment created in RentalReady has a unique identification number
- An invoice is automatically generated in the software for each payoutt adjustment created
- For property managers who have not subscribed to the payment system: the payout adjustment has no real impact; i.e. no bank transaction is generated, the payoutt adjustment is an accounting line displayed on RentalReady
- For property managers who have subscribed to the payment system: the payout adjustment has a real impact; i.e. it generates a banking transaction between the owner and property manager’s Stripe virtual bank accounts
- The payout adjustment may take up to 5 days after its creation to appear on the Owner Space
- A payout adjustment is taken into account by the Stripe payment system on future payouts scheduled after the payout adjustment creation date
- If the property is deactivated (in inactive status), then any outstanding payout adjustments cannot be paid. In this case, you will need to create a top-up link to recover the remaining amount.
Create a payout adjustement
To create a payout adjustment from the main menu, go to Finance > Payout adjustments
Click on the Create new button > Payout Adjustement
- There are two types:
- Charge: the payout adjustment is taken out from the next owner payout and will be added to the next property manager payout
- Refund: the payout adjustment is taken from the next property manager payout and will be added to the next owner payout
- Select the category from the drop-down menu according to the payout adjustment you are creating
- Fill in the price of purchase: this is the payout adjustment amount
- You can also add service fees. The amount is expressed without VAT. VAT will be automatically applied according to the VAT rate set on the property office. If you do not want to apply service fees, add 0 in this field
- Select Invoice under owner's name? option if relevant
- Upload a file if necessary. This is a proof of the payout adjustment (invoice, receipt, screenshot of an e-mail, etc.)
- Select the property affected by the payout adjustment (the payout adjustment amount will be applied to the owner associated with the selected property)
- Select the mission associated to the payout adjustment if relevant
- Add comments:
- Payout adjustment comment: This comment is visible to the owner and will be displayed on the owner space and associated invoice
- Supplier name: It can be for example the name of the provider (if maintenance or service) or the store (if purchase of an object)
- Service fee note : This note is visible to the owner and will be displayed on the owner space and associated invoice
- Internal note : This note is only visible to the property manager
- Select an invoice date if necessary. If selected, the date becomes the invoice/creation date of the payout adjustement.
Skip Send invoice to finance team option
Once the form is completed, click on Create to save the information.
N.B.: Payment adjustments become visible in the owner space between 5 and 10 days after they are created
Payout adjustments management
Once the payout adjustment is created, it is displayed in the payout adjustments dashboard.
In the main menu, go to Finance > Payout adjustments.
Results can be refined by applying the filters on top of the page.
Payout adjustment statuses
| Payout adjustment is not paid yet | |
| Payout adjustment is partially paid | |
| Payout adjustment is paid | |
| Payout adjustement is inactive and not reviewed yet | |
| Payout adjustment is voided and not paid yet | |
| Payout adjustment is a credit note and not paid yet |
Void a payout adjustment
Once the payout adjustment is created, it cannot be edited or deleted.
Click on Options in the Actions column to display all available actions on a payout adjustment
- Void: it will automatically create an opposite payout adjustment to the one you wish to void. The status of the initial payout adjustment will change to not paid + voided. The status of the payout adjustment automatically created by this action will change to not paid + credit note.
- History: you will find the history of the payout adjustment (date, time and staffuser at the origin of each modification)
- Mark mission as done to change payout adjustment status from review required/Inactive to not paid. The payout adjustment will be then apply on the next payout
- Download invoice