Admin always gets the money for booking confirmations.
HOW ADMIN RECEIVES MONEY FOR A CONFIRMED BOOKING
Admin sets in theme options
- a global deposit value and
- (optional setting) the site service fee value.
Either of these can be in % or a fixed amount and apply to every booking request.
If the deposit is different than 0, the user submitting a booking request must pay that deposit before booking is confirmed.
For booking confirmations there are 2 scenarios:
- Instant booking = without owner approval,
- Manual booking approval process = with owner approval of the booking request.
But in both scenarios, the final step is for the user to pay the deposit asked for booking to be confirmed.
If the admin wishes to get just a % deposit of booking as his service fee and let remaining payment to be handled outside the theme, between user/owner he can do that.
In user dashboard – a confirmed booking will show the deposit paid and remaining balance to be paid. Paying reaming balance through the theme to admin account is still possible, but not mandatory. The option can be removed with simple CSS if desired.
Here are the options detailed:
Include expenses when calculating deposit?
Choose if wish to include expenses when calculating deposit. The expenses are:
- city fee and
- cleaning fee.
If you have 100% deposit – city and cleaning fee MUST be included (set to yes)
Use deposit field to take from the 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 the booking, the other part (remaining payment) can be paid before booking starts (but making full payment via the site is optional).
The deposit fee – it is taken from the user account and into admin account when payment is made and is DEDUCTED from total booking costs (owner total booking)
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 enabled
- 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 processes, 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
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)
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).
If you use 0 for Deposit, use 0 for Service fee
For Service value, use % OR fixed value (not both). Service fee = site admin fee
If you wish to take Service fee, the service fee is deducted from DEPOSIT, so Deposit 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 the remaining invoice is optional
2. ADMIN GETS THE MONEY AND WISHES TO TRANSFER TO OWNERS THEIR CUT THROUGH A 3RD PARTY SYSTEM (RENTALSCLUB)
At this point you must work with a 3rd party add-on to send payment to the owner, a service we offer with RentalsClub assistance.
The add-on is in Beta version now, works ONLY for payments done through PayPal – and it’s free for the time being. It may become paid in the future (there is no immediate plan for this direction).
With the add-on activated (activation is done through RentalsClub – an API system) – you will get access to your Rentals Club account to see payments received and make payments to the owner.
Here you have some screenshots of the interface to understand how it works https://www.rentalsclub.org/how-payments-management-extension-works/
In this situation, with RentalsClub, the owner will type their PayPal address in this Profile field:
The theme doesn’t manage PayPal fees, that’s why we offer the option to set a SERVICE FEE (which should be a value that covers your costs as site admin).