How money is collected by Coworks and deposited into your account
Coworks uses Stripe to automatically invoice your members for their recurring membership payments and to charge them for any one-off invoices you create manually. All of these invoices are charged and held in your Stripe account.
Stripe will then do a bulk deposit or payout to your bank account at the end of each day. It may take up to 2 business days for each payout to process with your bank.
About the Payouts report
The Payouts report is intended to give you a fully detailed report of the funds collected by Coworks and deposited into your account for a given period. This report also includes a breakdown of all of the individual invoices or charges that make up each deposit.
You can use this report to map each individual charge to a specific deposit in your account for accounting purposes.
How to download the Payouts report
Go to the Reports tab in the admin dashboard.
Scroll down to the "Billing" section.
Find the "Payouts" report and click "Download."
The report will be emailed to the email address associated with your Coworks account.
The "Payouts" tab
This tab shows all of the deposits to your bank account for the given period.
Breaking down the "Payouts" tab columns
Here's a breakdown of each column in the "Payouts" tab:
id: The ID of the payout, which can be used to map invoices to deposits in the "Charges" tab.
arrival_date: When the funds for the deposit should arrive in your bank account.
amount: The amount deposited into your bank account.
statement_descriptor: The statement descriptor on your bank account.
status: Shows whether the payout has been paid.
The "Charges" tab
This tab shows all of the invoices or charges that make up each deposit.
Breaking down the "Charges" tab columns
Here's a breakdown of each column in the "Charges" tab:
payout_id: The payout that this charge was included in.
transaction_type:
charge: Payment from a credit card.
payment: Payment from another source such as a bank account.
refund: Negative amount pulled from your account for refund purposes.
created_at: When the charge was created.
campus: Which campus the customer is based in.
customer: Who was invoiced.
total_amount: How much was charged.
transaction_fee: The processing fee from Stripe.
net_amount: The amount deposited into your account.
refunded: Whether the charge was refunded.
amount_refunded: How much was refunded.
invoice_id: The ID of the associated invoice for the charge.
coworks_invoice_link: A link to the invoice in the Coworks dashboard.
Happy Coworking!