What are settlements?
Settlements are the payments from your club or society’s sales (tickets, memberships or merchandise items).
What are the settlement options?
We offer 3 settlement options that you can opt for from your account’s settings.
Smart (weekly) - We send out the money from your ticket sales weekly
Monthly - We send out the money from your ticket sales monthly
Post-Event - We send out the money from your ticket sales once your event is done. These include any refunds issued
For memberships and merchandise sales, money is being sent out to your account weekly.
Where can I see the settlement details?
You can view a list of settlements and settlement details when you head to the Settlements page on the portal. The settlements table will give you information about:
Settlement Details - Click on the View button if you’d like to have more details on a settlement (such as the list of refunds issued).
Settlement ID - QPay identification number
Bank Reference - Identification number appearing on your bank statement
Settlement Type - Type of sales
Settlement Amount - Revenue generated from your sales (before any adjustment is made)
Adjustment - there are 2 kinds of adjustments.
The first (and perhaps more visibly obvious one), are refunds that you issue. Clicking on Details next to the settlement will show you the people who have been refunded (with a negative amount, but also visually different, in that they are greyed).
The second is an amount that we hold for events where you have an atypical amount of funds settled, compared to historical settlements. This amount is returned in full the next settlement period after the event unless there are any chargebacks, or refunds sent after all the funds have been sent to you.
Final Remit Amount - Total amount of money being sent out (Settlement amount - adjustment)
Timestamp - Date on which the settlement is being sent out
Where can I change my account details?
Simply head to your account’s settings by clicking on your club’s logo on the top right of your screen 🙂 If you scroll down, you’ll see a Bank Accounts section where you can add and update your club’s details.
When can I expect the next settlement?
Click on the notification bell located on the top right of your QPay Clubs portal screen to see the estimated date of your next settlement.
The estimate is based on the settlement option you opted for - either weekly, monthly or post-event.
Please note this is an estimate, and actual settlement dates may vary slightly.