If you're a Stripe connected customer, we’ve streamlined our payment process so you receive one invoice and make one payment a month.
We are changing the way we deduct our fees. We’ve streamlined our payment process so that you receive one invoice and make one payment a month. This means that in November you will receive the full amount of your bookings, and in the first 2 weeks of December, we will invoice and charge the fees for the November paid bookings.
To bring you up to speed, we’ve included a reminder on the previous process and details about the new process for Stripe connected customers and why we are changing this.
Our previous process
We deducted the agreed fees at the time of the payment through Stripe for online transactions. Where applicable, this included fees for:
- System maintenance fees
- Playfinder commission
These deductions took place before the revenue reaches your Stripe account. These fees and the monthly subscription were charged separately, through Stripe and GoCardless.
The new process
1. Get all online bookings payments into your account as they happen
You will now receive all customer payments for any online bookings as and when they are made, directly into your Stripe account, less Stripe’s own fees.
2. You’ll receive an invoice from us
We will invoice you via email within the first 10 business days of the month. The invoice will include charges for:
- Your monthly subscription fees
- Bookteq maintenance fees for bookings that took place in the previous calendar month
- Playfinder commission for bookings that took place in the previous calendar month
You will always receive the invoice before being charged through GoCardless.
3. Your GoCardless account will be charged
We will then charge the agreed subscription and fees through Direct Debit via GoCardless on a monthly basis.
Why are making these changes?
We want to make our fees more transparent by charging in one payment and adding fees onto one invoice.
The aim is to help with your accounting processes in understanding and reconciling our costs, with any VAT returns, and give you the full booking income up front, less Stripe’s fees.
It’s important to us that you can quickly and easily see a simple breakdown of the amount due. This will also make things easier and more efficient for us to process, with better visibility over the fees charged.
What happens next?
All online payments from the 1st November will no longer have either the Maintenance fee or Playfinder commission deducted.
However there is one exception - payment links that were issued before 1st November will still have fees deducted. This will still be reflected in your invoice - we can see the fees deducted so this will be reported in your booking reports.
What do you need to do?
Nothing, if you are already on GoCardless. If you are not for any reason, for example you have recently joined us, we will be in touch to finish the set up.
To register with GoCardless, please click below:
We have included a sample invoice below, sapo that you can see what to expect this month.
This is how your previous invoices looked:
This is how your new invoices will look:
