Step 1: Navigate to the Settlements page from the Admin menu.
Step 2: Review the Unsettled Balance — the total combined amount owed to all vendors with positive balances.
Step 3: Set a Cutoff Date — this defines the date through which sales and rent will be included in the settlement period.
- The cut off date specifies what vendor activity goes to the settlement, all sales after this date will not be included and will be included in the next settlement you run.
Step 4: Add Settlement Notes (optional) to attach to this settlement batch.
Step 5: Click "Preview Settlements."
Side tip: You can go and view past settlements under Admin Tools -> Reports. Once you are on the report page go to the "Vendor" Tab and click on "Vendor Settlements"
Once you are there you can specify the date range and it will provide you with all data within the set time frame.
The system will create a settlement check for every vendor with a positive balance. If no vendor has a positive balance, the system will alert you that there are no credits to settle.
Important: Make any necessary balance adjustments on the Rent page (credits, fees, etc.) before generating settlements. Once generated, settlements cannot be undone.