RoasterPay and Quickbooks: Recording Payouts

This is an overview of recording payouts in both Quickbooks online and Quickbooks Desktop.  

Reviewing Payouts in RoasterTools

The payout screen shows you a log of all the payouts that have been or will be deposited to your bank account from the payments.  RoasterTools sends payouts once per business day.  Each payout may contain multiple payments within it.  The payout will show up in your bank feed as one deposit for the net amount (multiple customer payments minus processing fees).

Sales > Payouts

To see transactions that are associated with each payout and the associated fees, either select the three dots to the left of the payout and click View, or click the date of the payout.

Here you will see a summary of the payout at the top of the page and then details of each transaction included in the payout below. Note for payouts that include many transactions, there may be multiple pages. You can use these details as you record the payouts in your accounting platform

The Order Numbers and Customer Names on this page have clickable links that take you directly to:

• The order details for the specific order included in this payout
• The customer profile associated with the transaction

This makes it quick and easy to cross-reference payout data with related orders and customer records.

CSV & Print Options

When viewing a single payout, you can now choose to print the payment transaction history or download a CSV file for easier reconciliation and record keeping.

How to Record Payouts in Your Accounting Platform

Assumptions:

1) We’re assuming you’ve synced your payments from RT to QBO - See Syncing Payments article for detailed steps on how to do this.

2) All your individual payments will sit in Undeposited Funds until you’re ready to record a Payout Deposit. - Check your Quickbooks integration preferences in RoasterTools to ensure this is the default bank account where payments will be applied.

Steps to Record the Payout Deposit and Allocate the Fees 

1. In Quickbooks Go to + New → Bank Deposit
2. At the top, Select the payments included in this deposit, (they’ll show as Undeposited Funds)
   • To identify what payments are included, in the Payout Page in RoasterTools, view the Payout details.
   • Match the payment amount listed on the Payout detail page to a payment listed in the Undeposited funds page 
3. Under Add funds to this Deposit (below the payments list), click Add lines and enter:
   • Received From: RoasterTools
   • Account: an expense account called “Bank / Merchant Fees” (or similar)
   • Amount: enter the fees as a negative (e.g. if fees were $12.34, put “-12.34”)
     • Note: you will enter a negative amount here, but QBO will post this as a positive expense in the expense account you've selected
4. Confirm the Deposit total (net of fees) matches exactly the Payout amount that was recorded in RoasterTools
5. Click Save.

This creates one “bank deposit” for the net payout amount and books the fee in your expense account.

FAQs

Q: Where will the payouts be coming from on my bank transactions?

A: RoasterTools

Q: On my customers bank statements how does the name show up for charges?

A: JFI*MerchantName (your companies name) Example: JFI*JavaJoeRoasting

Q: How are the fees taken out and displayed?

A: Fees are deducted from the total before the payout.

Q: Why can't I get my customers card to save on their account?

A: This usually happens when there's an issue on the customer's end. They may need to activate their card or check with their bank about any restrictions or security settings that might be preventing it from being added. It's a good idea to have them follow up with their bank directly to resolve the issue.

Q: Why is my processing fee higher than my standard rate on some orders in the payment page?

A: Every card transaction includes a percentage fee + a flat $0.30. That flat fee is included when the total fee is shown as a percentage, which makes it look higher on smaller orders. As order totals increase, the 30¢ becomes less significant, and the percentage moves closer to the base rate.