RecShare’s Marketplace allows for simple commission disbursal by withdraw mode wherein the vendor has to request for payment and you (or your marketplace admin) can process the funds accordingly.
RecShare provides various withdraw options (modes) giving your full control of how and when your vendors are paid. The available withdraw modes currently include the following:
You can easily select your desired option from the drop-down found by following this path: Marketplace (from the admin dashboard) > Settings > Withdraw Settings.
This setting allows the vendor to manually withdraw commissions. For example, the vendor requests to withdraw their earned commissions from the marketplace admin. Upon receiving the request, the admin confirms the disbursal of the commission. Additionally, the admin can select which order statuses are allowed for claiming the withdraw request from here: Marketplace (from the admin dashboard) > Settings > Withdraw Settings.
Here’s a quick rundown on how the manual process works:
Step 1: Once a vendor receives an order, a receipt of that order will be created in the Orders tab. From here, the vendor will have visibility if the commissions have been paid or are still unpaid.
Step 2: For unpaid commissions, the vendors will be able to manually claim by selecting the “withdraw” button from the Payments section found here: Vendor Dashboard > Payments.
Upon clicking the withdraw button, the vendor can submit a request to receive their earnings by selecting their order.
Once the request is submitted, the marketplace admin will receive the withdraw request and be able to process the payment(s).
Step 3: Admin receives the request received by vendors and they can view it here: Marketplace (from the admin dashboard) > Withdraw. From here the admin will be able to ‘approve’ or ‘reject’ the withdraw request sent by the vendor and include a note along with their action.
This Setting will ensure that the commission funds are disbursed periodically. Admin can schedule the payment disbursal by “Schedule interval” such as every 7 days, 15 days, 30 days, etc. from the dropdown.
Similar to the manual withdraw option, the marketplace admin has the ability to select the order permitted order statuses for withdraw. However, unlike the manual withdraw option. The periodic withdraws will be automatically disbursed based on the scheduled intervals you set in the last step.
This option allows the admin to set which order status will be allowed for withdraw requests. The admin will be able to select order status from an available drop-down menu shown in the image below:
Upon selection, the commissions for orders with the permitted order status will be automatically disbursed to the vendors.
The withdraw request submitted by the vendor can be approved either automatically or manually.
a. Request Auto Approve: Checking this option will automatically disburse payments to vendors on request. Auto disbursement only works for auto-payment gateways such as PayPal and Stripe.
b.Manual approval process: Alternatively, the admin can approve the withdraw request manually by following this path: Marketplace (from the admin dashboard) > Withdraw. From here, the admin must select the withdraw request from the table and can either “Approve” or “Reject” these requests.
The marketplace admin can set up the withdraw conditions from the withdraw settings tab in your admin dashboard. They will be able to set the minimum balance required to make a withdraw request from the Minimum Withdraw Limit option found here:
Additionally, the admin can set the minimum number of days required to apply for a withdraw request after the order has been placed from the “Maturity Days” option provided.
In addition to the withdraw options provided globally (which affect all vendors on the site), the marketplace admin can set specific withdraw rules for individual vendors as desired. These rules will override the global rules set for the other vendors.
To configure individual withdraw rules, navigate to Marketplace (from the admin dashboard) > Vendor > Manage vendor > Commission and Withdraw Settings.
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