Payouts & Refunds report

Payouts are how FareHarbor deposits the money you’ve made from charging credit cards to your bank account. Each deposit is called a Payout.

Finding past payouts

By default, the Payouts report shows you payouts made in the last 30 days. You can see more or fewer by setting the date range.

Understanding payout columns

When viewing payout summaries, take note of the following columns:

• Ledger: The ledger used when the booking was created.

• Effective Ledger: The ledger in which the service was performed.

  For example, you run a boat touring company and your client books online for a tour that runs on Boat A, which is associated with Ledger A. However, on the day of the activity, Boat B, which uses Ledger B, is used to run the tour. In the reporting, the Ledger column will show Ledger A and your Effective Ledger will be Ledger B.

• Net gross: The total amount of all credit card payments included in the payout. This does not include booking fees.

• Net fees: The total amount withheld for credit card processing. Fees will be represented as negative numbers unless the amount of fees refunded exceeds the amount of fees paid.

• Net total deposited: The total amount deposited (or pending deposit) to your bank account. This number is calculated by subtracting the net fees from the net gross (or, if net fees are positive, net fees plus net gross).

• Net taxes: The total taxable amount for the payout, based on tax rate and any other custom taxes collected during booking.

• Scheduled for/Paid on: The date the payout is deposited in your bank account. The column name will vary depending on whether the payment is upcoming or already completed.

• Includes activity before: “Activity” refers to creation of payments or refunds. Generally, this will be the same as the “Scheduled for” and “Paid on” columns.

• Deposit status: There are four possible statuses:

  • Scheduled: The payout has not yet been processed. Note that scheduled payouts can change if you take more payments or issue refunds.
  • Initiated: We’ve sent a deposit, but your bank has not yet told us they’ve received the funds. It is possible you will see the deposit to your bank account while a payout has this status, but you can expect to see the funds in your bank account in 1-3 business days. Most banks do not deposit ACH transfers on the weekend or bank holidays.
  • Succeeded: FareHarbor has successfully made the deposit and your bank has verified with us that they have received it. It may still take a day or two for the funds to appear in your account, depending on your bank.
  • Failed: We weren’t able to make the deposit. Failed payouts are usually due to one of these reasons. If you have any payouts with this status we will contact you.

Each payout can be expanded to see its individual payments and/or refunds, and their related booking information. To see this information, click the grey triangle to the left of the Payout ID or click on the Payout ID itself.

Learn more about important reporting terms in FareHarbor.

When you charge or refund a credit card, you will see a line added to the “Future Payouts” report. These items are then paid out based on your payout schedule.

In addition to payments and refunds, there are other types of items you may see in “To be paid out”:

• Transfers: Money moved to or from your refund reserve
• Adjustments: Positive or negative adjustments made to your account by FareHarbor

This is where you can track your bank account debits.

Bank account debits are primarily used when there’s not enough money in your FareHarbor accounts to issue a refund, or in the event of a dispute. This section will show you any bank debits created within your selected date range, along with the reason (in the “For” column) and debit status.

This is where you can manage your refund reserve and track your bank account debits.

Your refund reserve allows you to hold money in FareHarbor to use for refunds without creating a bank debit. We recommend keeping money in your refund reserve to ensure that any refunds can be processed as quickly as possible. Learn how to add money to your refund reserve.

Refund Reserve Transfers report

You can use the Refund Reserve Transfers report at any time to see the refund reserve balance:

The opening balance is the balance as of the From date of the date filter and the Closing balance is as of the To date in the date filter.

If your Dashboard supports ledgers, it’s possible to view the refund reserve balance for a specific ledger by clicking the name of the ledger. Alternatively, you can select all to view the total balance.

Why don’t my payouts match my reports?

Because Payouts and Sales reports have different purposes and are generated in different ways, you may find that the numbers on them don’t always match. This is normal!

To review what each report does:

• Sales reports (including Revenue by Type) show all payments and refunds created within a specific date range. These reports are best used for tracking total revenue collected for taxes and business reporting.

• The Payouts report shows credit card payments and credit card refunds, and is best used to track daily deposits and validate bank statements.

Here are the most common reasons for discrepancies between these reports:

• In most cases, discrepancies between the two reports are due to how refunds are reflected in payouts. You can read more about refunds and payouts in the section below.
• Payouts can also include invoice payments, whereas Sales reports do not
• Payouts can also include transfers from your refund reserve, whereas Sales reports do not

How do refunds and payouts work?

Refunds are almost always reflected on the next occurring payout. There are two main scenarios you can expect to see:

• A refund will appear on the same day’s payout if the refund happened before the daily payout occurs. Example: A refund that happened at 8am in your time zone on Jan. 22 will be included in the payout for Jan. 22.
• A refund will appear on the next day’s payout if the refund was created after the daily payout occurs. Example: A refund that happened at 11pm in your time zone on Jan. 22 will be included in the payout for Jan. 23, since the payout for the 22nd already happened.

The only time a refund won’t be included on the next payout is if the payment that it’s associated with hasn’t been paid out yet. Because we can never refund someone for a payment that has not yet been paid out, a refund in this scenario will skip the current daily payout and appear on the next day’s payout instead, along with the payment that it’s associated with.

For example, let’s say it’s Friday morning and you charge a credit card then refund it right away. Because FareHarbor operates on a next day payout schedule, both the payment and refund will be reflected on tomorrow’s payout (Saturday).

As a result, it’s common for Payouts and Sales reports to display differing amounts for a given date range. When it comes to refunds, Sales reports show when refunds were created whereas Payouts show when they hit your bank account.

Why am I not getting my payouts?

There are several possible reasons why you may not be receiving payouts:

• Your Payment Setup Checklist has not been completed
• Information in your Payment Setup Checklist needs to be re-verified
• Your bank account has been changed or deactivated
• Your bank account type is not supported (i.e. it is a savings account or other non-checking account)
• Your balance is less than the minimum payout amount

Payouts that have not been deposited into your bank account will be listed under the To Be Paid Out tab.