Within Ricochet, there are two ways to conduct payouts to your consignors:
Individual/Manual Payouts: running a single payout outside of a normal schedule.
Bulk Payouts: running payouts for multiple people for sales through a specific date.
When posting an individual payout, it will remove any funds due from their consignor account. This will keep them out of the next bulk payout, so you don't have to change your normal process to account for that one-time event.
How To Run An Individual Payout:
In Ricochet,
Click Accounts
Click Consignors
Search for and find the consignor you would like to pay
Click the Edit Pencil to the far right of their name
Click the Payout tab
Check the boxes of items intended for payout (uppermost check box selects all)
Click the Run Payout drop down in the upper right
Click Payout Type: Send ACH, Print Check, Print List, QuickBooks, or Store Credit
Next steps according to payout type:
Send ACH (click arrow to expand)
Send ACH (click arrow to expand)
Add any Convenience Fee amount, if applicable
Choose Funding Source
Check the "I confirm" box to verify Payout Total & Fee amounts are correct
If you are integrated with QuickBooks and want the payout reflected there, toggle ON the option to Post payout to QuickBooks and choose the corresponding Expense List
Click Send ACH
NOTE:
This will post the payment and mark all items listed as Paid.
Processing times vary depending on Funding Source. There is a send limit of $10,000 per transaction, so if you need to process more, you will need to do so in separate transactions.
If you are integrated with QuickBooks and want the payout reflected there, toggle ON the option to Post payout to QuickBooks and choose the corresponding Expense List
Post to QuickBooks view:
Click Cancel if you do not want to post and return to the pending payout(s) page.
Print Check (click arrow to expand)
Print Check (click arrow to expand)
Verify Payout Total
Input Check Fee, if applicable
Input Check Number
Click Print
From your computer's print preview screen, verify the correct printer is selected
Click Print
When sent back to Ricochet,
Click Post
NOTE: This will post the payment and mark all items listed as Paid. This does not equate to paying your consignors, you will still need to give them their checks and account for your banks processing procedures.
Click Cancel if you do not want to post and return to the pending payout(s) page.
CLICK HERE for the checks we recommend. The key is that they are Laser Top Checks, 3 fold (8 1/2 x 11") and Unlined.
Print List (click arrow to expand)
Print List (click arrow to expand)
Verify Payout Total is correct
Click Print
From your computer's print preview screen, verify the correct printer is selected
Click Print
When sent back to Ricochet,
Click Post
NOTE: This will post the payment and mark all items listed as Paid. This does not equate to paying your consignors, you will still need to give them their funds via Cash, PayPal, Venmo, etc...
Click Cancel if you do not want to post and return to the pending payout(s) page.
QuickBooks (click arrow to expand)
QuickBooks (click arrow to expand)
Click HERE for conducting payouts with QuickBooks.
NOTE: To make things simple, we recommend one solid rule: Every single time you post a payout in Ricochet, make sure you also post it to QuickBooks
Store Credit (click arrow to expand)
Store Credit (click arrow to expand)
Verify Payout Total is correct
Select Keep Item Split or Change Item Split
To Change Item Split, Select Updated Split from the drop down
Click Pay & Post
NOTE: Sales will go towards in-store credit instead of receiving a traditional cash payout. This will post the payment and mark all items listed as Paid.
Click Cancel if you do not want to post and return to the pending payout(s) page.
