Ricochet has the ability to charge booth rent within a consignor account.
Previously, this was accomplished through Actions > Bulk Credit Adjustment > Enter Amount of Fee and Description > Submit. However, the bulk credit adjustment is intended for a one-off, yearly or bi-annually fee rather than a monthly deduction.
First, to enable booth rent and set it automatically for vendors/consignors:
In Ricochet,
Click Preferences
Click Admin
Under Store Details,
Toggle ON Automatic Vendor Booth Rent
Click Save
Next, to set booth rent for vendors/consignors:
In Ricochet,
Click Accounts
Click Consignors
Find a consignor needing booth rent,
Click the Edit Pencil to the far right of their name
Under Account Details,
Scroll down, enter Amount, Frequency, and any corresponding specification
Every nth of month requires which day of the month to be designated
NOTE: The drop down will give options up to day 28 because that is consistent across all months.
Every 30 days requires a Next Payment Date
Every last day of month will automatically deduct on the last day of the month regardless of days in the month (keep this in mind for February)
If you have multiple stores, and vendors in more than one store, there will be a drop down to designate which store that booth rent applies to.
Click New Booth Rent
Create and designate rent for the next location
Click Update
Booth rent is deducted after 9:00 AM Mountain Standard Time
When rent is deducted it will show up as a line item in the consignor payout that reads (Rent) and the date it was charged.
If a mistake is made, Click the Red Trash Can next to the line item in payouts.
Rent is deducted from consignor credit. Ricochet does not hold consignor ACH information for payments. If the consignor has no sales for rent to deduct from prior to payout, their consignor credit will go into a negative balance and you will need to recoup payment from them outside of Ricochet or it will automatically take new sales commissions until the balance is met. If you do receive payment outside of sales offsetting the negative balance you will need to adjust the consignor credit manually to account for having been paid the booth rent.
If the vendor is using the Ricochet GO app they can receive notifications when rent is charged if you have allowed this permission under the notification section of Preferences.