Your statement is a summary of the previous month's sales and payments. It contains the monthly total of your gross payable sales, offset against the monthly totals of commission, payment service fees and subscription fees charged. If you look at your weekly summaries, the totals together match the figure that you see on your monthly statement.
Sample statement with explanatory notes:
A general outline of the payment process is as follows:
- Every Friday, we send you a payment notification email that includes all sales for that week. From those sales, we offset your commissions and credit card payment service fees
- On the first of each month, we apply your subscription fees to your account. On the first Friday of the month, your payment is therefore offset by that weeks commissions and payment service fees as well as your subscription
- Should the amount that you owe us be greater than the payment for your sales, we will charge your credit card to make up the difference. As long as your sales are greater than your fees, we never need to charge your card
Payment notification emails are advanced notice of your deposit; the funds will be transferred to your bank one week later, and then deposited by your bank within a few days.
