Payments

Introduction

The Payment System allows you to control how and when you are paid by SWREG. Once a month we move money from sales into your SWREG bank account. This works pretty much like a 'real' bank account. You can take this money out in full or in part any time you like. If you have several vendor accounts you can move money between them, you can also pay other SWREG account holders if you know their details.

Payment Timing

Automatic Payments: Payments will be sent to you on the first business day after the 14th of the month. In most months, this means you will be paid on the 15th, however, on months where the 15th lands on a weekend or holiday, the payment will be sent on the first business day after the 15th.

Manual Payments: Examine the date you entered the payment and whether the payment shows as 'Paid'. The date assigned to your payment entry is not necessarily the payment date. Manual payments are processed on the next payment date if the transaction was entered before the cutoff time. The cutoff time is the night before the payment date at 6 PM Central Time (Chicago). At this time the system automatically prepares the payments; anything after the cutoff time will be delayed until the following payment run.

Payments are processed each Tuesday and the 15th of the month. If your manual payment date shows a status of 'Paid' on a Thursday (for example), then the payment was actually processed by our system on the following Tuesday (or the 15th if that falls sooner).

Third Party Payments: Examine the date you entered the payment and whether the payment shows as 'Paid' with a Batch number assignment. The date assigned to your payment entry is not necessarily the payment date. Third party payments are processed on the next payment date if the transaction was entered before the cutoff time. The cutoff time is the night before the payment date at 6 PM Central Time (Chicago). At this time the system automatically prepares the payments; anything after the cutoff time will be delayed until the following payment run.

Payments are processed each Tuesday and the 15th of the month. If your third party payment date shows a status of 'Paid' on a Thursday (for example), then the payment was actually processed by our system on the following Tuesday (or the 15th if that falls sooner).ction 'Settings' (below) for more information about Automatic and Manual payments.

What is the time frame to receive my payment?

From the time we send the payment, general guidelines for the various payment types are below.  Please note that these are estimates only and we are unable to guarantee delivery time as they are dependent upon the bank or payment processor.

Transactions

This is the first tab in the SWREG bank and allows you to look at all transactions on your bank account during a date range that you select. As with the Sales Reports interface you can view these in HTML, Tab and Comma- delimited format. You can also select to view them in your web browser, or have them sent to an email address you provide as an email attachment. When you run the report, each column has the following meaning:

Payees

The second tab in the SWREG Bank allows you to configure payees. Besides sending payments to you, SWREG can make payments to others on your behalf. You can make payments to other SWREG clients ('SWREG Store Transfer'), or any other person or organization ('Third Party') that can receive payment by a method SWREG supports.

To set up a payee to receive payment from you, select 'New Payee' in the upper right. Select the type (Third Party Payee or SWREG Store Transfer) and fill out the required information. To make payment via SWREG Store Transfer, you must provide the Store ID, which can be obtained by the owner of the account.

To view or edit a Payee, click on the Payee Name.

To send payments to payee(s), click on the checkbox next to the Payee Name and click 'Send Payment'. You will be taken to a page where you can enter provide amounts and enter comments for each payment. Each payment or group of payments is assigned to a "batch", and each batch requires a small flat fee. To minimize batch fees, group multiple payments into a single batch. There are different fees associated with each payment type to each payee, upon completion of setting up a payment batch, your account balance will be reduced by the total payment amounts, the payment fees for each payment and the batch fee.

After you submit your batch, you will be taken to a screen that displays your pending upcoming payments. You can delete any payment batch before the cutoff time (see Payment Timing above). You can also navigate to this page from the SWREG Bank main page by clicking on "View Pending Payments".

Settings

The third tab of the SWREG bank allows you to select rules regarding how payments are made to you.

Charges

SWREG offers a paypal alternative, affordable ecommerce, payment processing, ecommerce solution, and an online software store with the ability to sell shareware.