With Cloudbeds Payments, there is no need to batch transactions on a daily basis or close out each day. Our system will automatically capture your transactions and send to your bank account for you according to your Payout frequency.
This article will help you to reconcile your payments made through Cloudbeds Payments.
What is a Payout?
A Payout is also known as a Deposit. A Payout is a bundle of transactions from a particular day or set of days that is to be deposited into a desired bank account.
We can transfer exclusively to bank accounts. We are unable to deposit a payout via PayPal.
- Payouts are only made on business days. If a business day is a federal/bank holiday, your payout will be sent on the next available business day.
- All payouts are net your processing fees meaning we take out your fees prior to depositing a payout to your bank account.
- The bank descriptor will be listed as Cloudbeds Payments when you receive your payout.
Below will breakdown when you will receive your Payouts depending on your payout frequency.
Daily (default) - This payout schedule follows a 2 day rolling period
- A payout will be created every day and sent to your account a few days later — typically 2 business days. All weekend transactions will be bundled together into one Payout.
Check the table below that shows transactions day vs payout day for a better understanding. Weekend Payouts will not begin the deposit process until Monday.
|Transaction Day||Payout Day|
|Friday + Saturday + Sunday||Tuesday
Weekly - This payout schedule follows a 7 day rolling period.
- A payout will be created every Monday for the previous week and sent to your account 2 business days later.
Monthly - This payout follows a monthly schedule where you will receive 1 payout per month.
- A payout will be created every 1st of the month for the previous month then set to your account 2 business days later.
To change your payout frequency, contact email@example.com.
Europe and Canada
Currently, only the daily payout option is available for accounts in Europe or Canada.
Cut Off Times (Daily Payouts)
For our daily payout frequency, the cut off times per day are from 4am-3:59am EST. This means, you may see transactions that are processed from 12am-4am EST combined with the previous day's payout.
For example, if I process a transaction on Tuesday morning at 2:00am EST, this transaction will be combined with my Mondays transactions and included in that particular payout.
Cloudbeds offers many reports to help make your revenue management easier. The reports below are reports you would commonly run to obtain details specifically related to Cloudbeds Payments transactions.
Click on the hyperlinks to learn more about each report:
- Transactions Report - Generates a variety of financial reports for your property from the transaction report section.
- Payment Processing Report - This report tracks transactions made through Cloudbeds Payments (authorizations, declines, charges, refunds). From this report you can also check transactions statuses, retry/cancel scheduled payments and view fees assessed per transaction.
- Payouts Report - Shows the amount of each payout you have received.
Use the above reports to reconcile the funds transferred to your bank account.
In your Payment Processing Report, you will see details of each transaction processed through your Cloudbeds Payments account. Based on the deposit time table above, use this report to compare to your Payouts report which indicates your deposit amount.
Here is an example:
- On the Payment Processing Report for 12/8, it shows a summary amount of $217.43.
- Then, on the Payout report on 12/10, it shows a Payout amount of $217.43 which indicates the money was allocated to the bank account as intended for 12/8 sales.