When a payment provider transfers collected funds to a merchant’s bank account, it is referred to as a payout. When a payout occurs, ZonePayments creates a Payout Event and Deposit record in NetSuite.
Note: Payout Events and Deposits are automatically created when scheduled automations run. Because these automations are on a schedule, the time of payout may differ from when associated records are created in your NetSuite environment.
Payout Events can be viewed under Transactions > ZonePayments > ZP Payout Events.
Automations for Payout and Deposit Handling
New payouts are identified when the scheduled automation ‘Retrieve Payouts’ runs. This automation will determine if a payout has been issued by your provider, and if so, will bring all payout details into a NetSuite Payout Event record.
Once Payouts are retrieved and Payout Event records are created, a secondary automated process, ‘Process Payouts’, will execute based on its schedule. This generates a single Deposit record for each Payout Event, which contains all associated payments and fees related to the event.
The cash account where funds are deposited is determined by the Bank Account For Deposits field on the Account Mapping Profile.
Since all of the payments and fees are recorded as a single Deposit, the net dollar amount recorded to your NetSuite cash account should always match the exact amount deposited into your bank by your payment provider.
Payment Provider Fees Deducted From Payouts
Payment providers typically charge several different types of fees. These fees are deducted from the payout amount, and the net amount is deposited to your bank account.
Any fees deducted from your payout will be found on either the ‘Cash Back’ or ‘Other Deposits’ tab of the Deposit record. By default, all fees are recorded against the expense account selected in the Default Fees Account field of either the Payment Profile or Account Mapping Profile.
Expense Accounts Designated for Fee Handling
You can also choose different expense accounts for various types of fees charged by payment providers by using the following fields on the Account Mapping Profile:
Fees Account: This expense account is used to record various ‘Charge Fees’ associated with processing payments through your payment provider. If no account is selected, the Default Fees Account from the Payment Profile will be used. These fees are recorded on Deposits under the Cash Back section.
Refund Fees Account: This expense account is used to record fees associated with processing refunds through your payment provider. If no account is selected, it will default to use the account selected in the Fees Account field. Refund Fees are recorded on Deposits under the ‘Other Deposits’ section.
Adjustment Fees Account: This expense account is used to record fees associated with processing adjustments through your payment provider. (Stripe ‘dispute’ fees are recorded as adjustment fees.) If no account is selected, it will default to use the account selected in the Fees Account field. Adjustment Fees are recorded on Deposits under the ‘Cash Back’ section.
Application Fees Account: This expense account is used to record fees associated with the use of your payment service provider’s platform (i.e. stripe_fee). If no account is selected, it will default to use the account selected in the Fees Account field. Application Fees are recorded on Deposits under the ‘Cash Back’ section.
Refunds, Disputes, & Other Reversals
When refunds, disputes, or other payment reversal events occur, the subsequent impact of these events will be deducted from the payout amount, and the net amount is deposited to your bank account.
Generally, these events are recorded as Customer Refund transactions, and will appear on Deposits under the ‘Payments' section.
See Refunds for more details.
Payouts and Deposits FAQ
Q: Why am I not seeing Payout Events and Deposits yet?
A. Ensure that you have set up Account Mapping Profiles to appropriately route payout funds to “bank accounts for deposit” in NetSuite. Additionally, be mindful that Payout Events and Deposits are only created when scheduled automations (‘Retrieve Payouts’ and ‘ ‘Process Payouts’) run, which is at a daily cadence by default.
Q: Why is the date on the Deposit record different from the date on my bank statement?
A. ZonePayments sets dates on Payout Event and Deposit records that correspond to payout dates in the payment provider. It is important to note that once funds are forwarded from the payment provider to your bank, the bank determines when to post funds to your account. This may occasionally cause a date discrepancy between the posting date on the bank deposit and the deposit record in NetSuite.