Starting 1.20 the theme has new options for bookings management:
Previously known as admin Admin Booking Fee – % booking fee (in older theme versions).
Now you can use deposit field to take from user submitting the request a part (or full payment) of the booking total payment in order to confirm booking. If you take only a part to confirm booking, the other part (remaining payment) can be paid before booking starts (but making full payment via the site is optional).
For who will wish to take full payment AND send then payment to owner, we allow that to work via PayPal AND the Payment Management add-on (a separate add-on that works through rentalsclub.org – http://www.rentalsclub.org/). More here – http://www.rentalsclub.org/how-payments-management-extension-works/
The deposit fee – it is taken from user account and into admin account when payment is made.
In short, the process is this.
Standard booking process, without instant checkout enabled:
a. Send booking request
b. Owner approves or rejects request
c. If Owner approves, he issues an invoice
d. Renter must pay the invoice deposit fee (if admin has set that) in order for booking to be confirmed. Payment goes to admin account
With instant checkout
a. Send booking request
b. Renter must pay the invoice deposit fee (if admin has set that) in order for booking to be confirmed. Payment goes to admin account
—> In the above process, payment can be done via PayPal or Stripe (for instant checkout). Money goes directly in admin account (paypal or stripe).
—> If using standard booking process, payment can be done via wire transfer, paypal or stripe. If the option to use wire transfer is used – then admin must confirm payment is done by going to admin – invoices – edit invoice and mark payment as complete. Then booking becomes confirmed
The fee that goes to the site administrator and is deducted from owner earnings, but it is paid by the user submitting the request as part of the deposit.
Because service fee is part of the deposit, it is important for deposit value to be greater/equal than service fee value.
NOTE: –> We do not consider fees in the process. You should set the service fee as well, to include any costs you have (including fees). The payments are you send to owner are total – service fee – minus security fee (if that is set by owner).
These new options are managed from Membership
What you need to know.
For deposit value, use % OR fixed value (not both). Set 0 if you don’t wish to take any DEPOSIT (in which case set 0 for Service fee as well)
For Service value, use % OR fixed value (not both). Service fee = site admin fee
If you wish to take Service fee, service fee is deducted from DEPOSIT, so Deposti SHOULD NOT be left blank or 0 and Deposit should always be GREATER than Service fee (+ city, cleaning fee expenses, if that is set to be included in deposit)
Service fee shows in Owner dashboard – View Invoice Details
Service fee is deducted from owner earnings
When you add Deposit fee, there will be a reminder email to make the remaining payment before the beginning of the booking. The remaining payment can be done from My Reservations. But paying remaining invoice is optional
OPTIONAL: Payment can be sent to owner through paypal (if you use Payment Management addon from Rentals Club) http://www.rentalsclub.org/how-payments-management-extension-works/