A Payout is a bundle of transactions from a particular day or set of days to be deposited into the desired bank account. With Cloudbeds Payments, your transactions will be captured automatically and sent to your bank account daily, weekly, or monthly depending on your payout frequency.
- Payout frequency: Payout schedule frequency — how often we send money to your account (daily, weekly, monthly).
- Payout speed: The amount of time it takes for your funds to become available in your account.
In this article, you can learn more about the payout frequency and speed in every available region and all the reports you can use to reconcile your payments.
Important
- Payouts are made only on business days. If the schedule falls on a federal/bank holiday, your payout will be on the next available business day.
- All payouts are net to you. We take out the processing fees before depositing the payout to your bank account.
- You will see Cloudbeds Payments as the bank descriptor on your payout.
- We can transfer exclusively to bank accounts. We are unable to deposit the payout via PayPal.
- To change your payout frequency, contact cbpayments@cloudbeds.com.
Payout speed: 2 business days.
Payout frequency: daily, weekly, or monthly.
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Daily: The payout will be available in your account within 2 business days from the time you captured a payment. Example: The payout from Monday's payments will arrive in you bank account on Wednesday.
- All weekend transactions (Friday, Saturday, Sunday) in the daily payout will be bundled together into one payout (Tuesday)
- Weekly: You can specify the day of the week to be sent. The payouts will be sent on the day selected and you should receive it within 2 business days.
- Monthly: This payout follows a monthly schedule where you receive one payout each month, you may choose the date that works for you. The payouts will be sent on the date selected and you should receive it within 2 business days.
Payout speed: 7 rolling days.
Payout frequency: daily, weekly or monthly.
- First payout: When you start processing live payments from your customers, you wont receive your first payout until 7-14 days after processing your first successful sale. The reason for this is that the first payout usually takes a little longer in order to establish your Cloudbeds Payments account.
- Subsequent payouts: Processing for subsequent payouts happens according to your accounts payout schedule (daily, weekly, monthly). This means that your payments become available to be paid out to your bank account in 7 rolling days after the sale is executed, and then payouts are grouped together based on your payout schedule (daily, weekly, monthly).
Payout frequency: daily
For more information or if you need to change your payout frequency, contact our Payments Support at cbpayments@cloudbeds.com.
Currently, only the daily payout frequency is available for accounts in Europe (including the UK).
Cut off time (daily payout)
06:59 PM Central Time (CT)
Example:
- If a payment is processed on Monday before 07:00 PM CT, that payment will be in the Monday payout. If a payment is processed on Monday after 07:00 PM CT, that payment will be in the following Tuesday payout.
If you have any question or concern about the cut off time, contact our Payments Support at cbpayments@cloudbeds.com.
Reports for reconciliation
Cloudbeds offers many reports to help make your revenue management easier. Click on the link to learn more about each of them.
- Payouts Report: Shows the amount of each payout you have received.
- Monthly Statements: Lists all payments, refunds, chargebacks and the processing fees assessed in one month.
- Transactions Report: Shows all transactions posted inn the Cloudbeds PMS.
- Payment Processing Report: Shows all transactions processed through Cloudbeds Payments (authorizations, declines, charges, refunds). You can check transactions status, retry or cancel scheduled payments and view fees assessed per transaction.
Use the reports to reconcile the funds transferred to your bank account.
In the Payment Processing Report, you will find the details of each payment processed via Cloudbeds Payments. Based on the deposit time table above, compare this report with the Payouts report that indicates your payout amount.
Here is an example:
- On the Payment Processing Report for December 8th, the total net amount is $217.43.
- On the Payout report for December 10th, the payout amount is $217.43, which indicates the money was allocated to the bank account as intended for December 8th sales.
