The default schedule for revenue from ticket sales to be disbursed is 7 days after an event concludes. This time allows for all transactions to be fully settled in the payment processor so the payout is able to be processed in one disbursement. This also allows for the resolution of any refunds needed, disputes raised, or cancelations or other extenuating circumstances. Once the 7 days has passed, the funds are disbursed via the banking connection. Payouts will only process on a business days, no payouts will be processed on weekends or bank holidays. If the payout schedule means that a payout should happen on a weekend or bank holiday then the system will automatically assign the payout to the next upcoming business day.
For information about how to manage your reporting for payouts, see here: How do I reconcile my books after a payout?
If there is an issue with the banking connection or if that connection is not completed by the scheduled payout date, the system will re-attempt to process the payment each business day until it is successful. Once the banking connection is established or updated with any required information, then payouts will process as expected. More information here about creating or updating a bank connection.
View Past and Upcoming Payouts
An admin or account owner for a ticket selling organization can access the "Payouts" option in the navigation menu to see a list of all previous or scheduled upcoming payouts. Please note that a "payout" is a disbursement and that funds that we report as paid can take up to 2-5 days after a disbursement to be available in the destination account. Once a payout is disbursed, the payouts section will show the date the payout is expected to be available in your account.
Payout Schedule
By default, all event ticket sales payouts are scheduled to disburse 7 days after an event concludes. This time allows for all transactions to be fully settled in the payment processor so the payout can be processed in one disbursement. This also allows for the resolution of any refunds needed, disputes raised, or cancelations or other extenuating circumstances. If you would like to request a change from the default payout schedule, you can email tickets@evvnt.com with the subject "Payout schedule" to discuss options available.
Delayed Payouts
If your payout is not processing as expected, then you should first check the status of your Stripe bank connection in your "Organization Settings". If you are the account owner that created your Stripe bank connection, then you should search for emails from Stripe regarding your connected account. If you see no evidence of Stripe needing more information about your account, then please reach out to our support team with a request here.
Other Payout Settings
If you have an approved account for payment of ticket sales before the event takes place, our system will hold a 20% reserve of the revenue earned for an upcoming event to account for any potential refunds, chargebacks, or cancellations. The reserve amount will be paid 7 days after the event takes place.