Viewing the Payouts and Transactions report will give you access to two reports pulled directly from Stripe.
How do Stripe Payouts & Transactions work?
Any online payments made on your booking site are processed by Stripe and will appear in this area, if any refunds are made, these will also appear here. You can find these transactions listed in the 'Payments' tab.
As you take payments, your Stripe balance will increase; and will be paid out on a weekly basis by Stripe. It is important to note that Stripe's weekly payouts do not correspond to a Monday-Sunday schedule, but rather a Wednesday to Tuesday schedule, with the money landing in your bank account the following Monday.
In the example image below, payments taken between Wednesday the 10th and Tuesday the 16th will land in your bank account on Monday the 22nd.
Note: When setting up billing with Stripe for the first time, there can be a delay of around 2 weeks before your first payout lands in your bank.
Understanding the Payments Tab
Unlike the Booking Payments & Transaction Reports, this will only show the payments that have been made on your booking site, so no manual payments created in the back-end of Coordinate.
When refunds are made, they will not appear as separate items in the report, instead, they will appear in the same row.
Clicking on a payment will show you some more important details about the payment, such as how much of the payment was refunded, and how much of the payment was taken in transactions.
You'll see a variety of statuses against your payments here, the most common being 'Succeeded'. The most common statuses are listed below:
Succeeded: The payment was processed successfully
Refunded: The payment was refunded
Partially Refunded: The payment was partially refunded
Failed: The payment was initiated, but failed
Clicking on a payment in the report will show you some more important details, such as the amount refunded and the transaction fee value.
Understanding the Payouts Tab
This report shows you each payout that you have received, as well as your current balance, any upcoming payouts, and any payouts currently in transit to your bank. If you ever need to align the payouts you have received with the transactions made on your booking site, this is a great tool for that.
Clicking on a payout will bring up further important information about the payout, crucially including all of the payments that were aligned with this payout. You can find these transactions by scrolling to the bottom of the payout pop-up.