Choosing a Deposit Plan

Getting your store deposits on a schedule that works for you is important, which is why we offer customizable options to choose from. You can select the precise schedule and format for your deposits for both your year-round and pop-up stores. This article will explain how to easily change your deposit schedule within your account settings, what your different format options are, and what an “open balance” means for your funds before they are deposited.

Only users marked as Owner and Accountant can change the deposit plan of an account. Contact your account manager to update your user role.

Choosing a Deposit Plan

• Click on the Accounting section - located in the main banner.
• Select the Deposits tab
• Click Choose Deposit Plan tab

There are 2 Deposit Schedules you will need to make a selection for:

• Stores with Deadlines (Pop-up) - stores that have a close date assigned
  • Daily
  • Weekly
  • At Store Close
    • You have the option to add a delay. Delays are useful if late orders or refunds are anticipated. There is a two day delay on all deposits. Keep this in mind when adding an additional delay.

• Stores Without a Deadline (Year-round) - stores that have the deadline date removed
  • Daily
  • Weekly

You will select only 1 Deposit Format. This will apply to both deposit schedules:

• Single-Store Deposits (US Customers only) - Receive each store’s funds on its own deposit. This deposit plan can help you stay organized by sending a single deposit statement per store, once the store closes on deadline stores and daily/weekly on stores with no deadline. Instead of recording each store’s transactions as they come in, you only have to think about it once. This service costs a $0.95 fee per deposit.
• Multi-Store Deposits - Receive funds from all stores on one deposit either daily or weekly. This means all transactions from the 24 hours or last week will be compiled into a single deposit statement rather than separated out by store.

• Click Save Deposit Settings to save. All undeposited funds in your account will be deposited on the new schedule.

As your needs change, your deposit settings can also be adjusted. Switch your plan at any time. Any undeposited funds will automatically go to the new deposit schedule and format. 

Your deposit settings are changed; now take a deeper look into your actual deposits. Get all the ins and outs here, where to find them and how to read them in this Deposit Statements Help Center Article.

Open Balances

Open Balances refer to funds received and held until the next scheduled deposit. These funds are considered "open" until the subsequent deposit is made.