Your settlement report tells you what tickets and/or products you sold, any additional fees you collected, what is owed to Leap for those sales, and what you are owed for that period.
Location: Navigate to Reports and select Settlements.
Understanding your Settlements Page
All settlements that have been processed will show up in an exportable list with the most recent date at the top (but can be reversed if you prefer).
Things to note on your settlement page:
- Payout ID - assigned to all transactions that are paid out during that period
- Date Issued - the date the settlement was processed
- Batch Range - the period of sales for which the settlement processed (please see your sales agreement for clarification)
- Amount - the amount you should expect in your deposit
- Type - all transactions will appear as ‘Credit’, reflecting a positive amount owed to you, or a negative amount owed to Leap
- Method - clients using Leap Merchant Services will either show as ‘Stripe Connect’ for credit card sales processed on LMS, or ‘ACH Direct Deposit’ for amounts debited from or credited to your bank account
- Reference ID - is for Billable/Non-LMS clients using their own merchant account
- View Details - takes you to a detailed report showing what makes up the ‘Amount’ of your settlement
Reading your Settlement Report
Rolling/weekly Report Example
Post-event Report Example (with multiple capture methods & Memo)
The report header:
- Generated at - The timestamp you accessed this report
- Reporting on Events - The events that are included in this payout. ‘No Events’ means the payout is an aggregate of every event under the organization during this settlement period.
- Reporting on Time Span - The date range whose sales/refunds contribute to this report. ‘ALL Time’ means everything from account inception up through Date Processed that has not been previously settled.
- Date Processed - When the payout was initiated. Anything that settled after this timestamp will roll into your next report.
- Reference Optional. Free-text reference (PO number, accounting ID, etc.) attached by the issuer.
- Memo* - a note attached by the issuer that generally explains any adjustment made to your settlement.
*Note
If your settlement report amount does NOT match what was paid to you, this is where you’ll want to look for a note from Leap’s finance team.*
Ticket Sales
The ‘Grand Totals’ ticket sales table will reflect the total of every line item for every event during this settlement period. If there is only one event you will only have one Grand Total table. If your settlement includes multiple events, there will be a series of similar tables below, labeled with their respective Event Name, Event ID, and Location.
These tables are also grouped in columns by their ‘Capture Method’ - Online, Box Office, Phone, etc. Within each Capture Method, the figures are split between what line items you ‘Collected’ from the buyer and what is ‘Owed to Platform’ for those items:
- Tickets Issued - line item (Ticket type, Product Type, Price Level, etc)
- Cost - the face value of those line items
- Sold - the quantity of line items sold at that face value
- Discounts - the total amount knocked of the face value of those line items
- Refunds - the amount of refunded line items (netted against the amount collected)
- Service Fees - the amount of service fees collected and owed for those line items
The table will also provide a breakdown of all ‘Fees’ collected and owed for those capture methods:
Refund Protection Fee - a type of ticket ‘insurance’ that is offered to your purchasers if something happens to them and they are unable to use their tickets
Credit Card Processing - POS Only - a fee collected and/or owed for box office or onsite sales (based on your agreement)
Credit Card Processing (Online) - a fee collected and/or owed for online sales (based on your agreement)
So what is my payment?
The ‘Totals’ section at the bottom of the table provides your simple breakdown:
Total Collected - Total Owed = Payout
Think of each of those headings as a part of the equation; the sum of everything collected (paid for by your purchasers) less the sum of all fees owed to Leap, equals your payout.
If your agreement states you will have weekly payouts, you will likely see a ‘Payout Withhold’ line item in the Fees section. This is a percentage of all revenue owed to you that will be paid after your event takes place.
There is an easy-to-remember formula to calculate withholding:
(Total COLLECTED - Total OWED) * XX% = WITHHELD Amount.