Processing Payouts — EFT Payments via Payload.co

This article will review how to send out EFT payments via the Payload integration.  The process will vary depending on whether you choose to process the EFT payout on the Edit Deal Page or Remaining Payouts page.

Frequently Asked Questions:

Does the brokerage need to set up an integration in order to send EFT payments? 

Yes! Prior to sending out EFT Payments the brokerage must first follow the steps outlined in the Setting up the Money Transfers with Payload.co article.  Please reach out to your CSM or the Support team if you have questions or need assistance.  

What are the cut-off and processing times?

EFT payments must be completed in SkySlope Books by 3:00 PM PST for a next-day transfer.

Edit Deal Page - Sending EFT Payments

Before you begin processing payouts, best practice is to confirm payments have been received prior to processing any payouts. Click here to learn how to do that in bulk.  However, if you don't confirm payments until after disbursement, that option is available as well.

1. Navigate to the deal.
2. Once in the deal, click on Payouts at the top of the page.
3. Then, navigate to the Remaining tab to see which payouts are remaining.
4. Click Process Payout and select the Money Transfers (EFT) payout method.
5. Next, you will select the payment method and the payment date. 
6. When you are ready to process the payment, click Save & Proceed.
7. You will see a green confirmation in the lower right corner of your screen.

Remaining Payouts - Sending EFT Payments

Before you begin processing payouts, best practice is to confirm payments have been received prior to processing any payouts. Click here to learn how to do that in bulk.  However, if you don't confirm payments until after disbursement, that option is available as well.

1. In the left menu, navigate to Deals.
2. Then, navigate to Remaining Payouts.
3. Select the payments you want to process.
   Important: For batch processing, you can only select payments that will be processed via the same payment method. For this example, only select EFT payments.
4. After selecting the payments, select Money Transfers from the blue options bar at the bottom.
5. Next, you will select the payment method and the payment date. 
   At the bottom of this screen, there is a toggle switch to Combine Payments. With this option turned on, multiple payments for one individual will be combined into a single payment, totaling the sum of all individual payments.
6. When you are ready to process the payment, click Save & Proceed.
7. Once the payments have been processed, they will remain on the screen with a green checkmark until the page is refreshed. 

Tips & Best Practices for Bulk Payment Processing

• Approve Disbursement
  • Before you can process payouts, you must first navigate to the Edit Deal page and Approve Disbursement.
• Receive Funds
  • Before you can process payouts, you must first confirm payments for this deal have been received. To do this, open your deal. Then, navigate to Payouts and then to the Closings section. From there, click Confirm Payment Received. 
• Agents must have bank information set up
  • To process payments via Money Transfers, payment recipients must have their bank account information entered into SkySlope Books. This is something that they can do themselves, or the admins can do so from the Contacts page.
• Combine Payments
  • Whenever you are processing more than one payment for an individual, you will have the option to Combine Payments. For example, if Agent Amy has two remaining payouts (one for $25,000 and one for $40,000), you can opt to combine them into one individual payout (totaling $65,000).
• Working Page
  • The Remaining Payouts page is a "working page", meaning it is constantly updating. After certain types of payments have been processed, the payment(s) will remain on the list of remaining payouts with a green checkmark. This green checkmark means they've already been processed. Once you refresh or leave the page, these payouts will no longer be on the list.

Updated April 09, 2024 16:32