Payouts are a crucial aspect of managing your finances on Loop. They are the payments you receive from various third-party platforms like UberEats, GrubHub, DoorDash, etc., for the orders you fulfil from your kitchen(s). Understanding the different elements within payouts is essential to keep track of your finances and make informed decisions. In this article, we will explain the various elements within payouts on Loop.
Value Excl Sales
This refer to the total revenue generated from all your orders within a specified time frame. It includes the value of all orders before any deductions or taxes.
Taxes
Taxes are the amounts collected by the third-party platform on behalf of the government. This includes sales tax, delivery tax, and any other applicable taxes.
Commissions
Commissions are the fees charged by the third-party platform for their services. This can range from 10-35% of the total order value, depending on the platform.
Unaccounted
Unaccounted are any changes made to the payout after it has been calculated. This can include adjustments made by the third-party platform, such as refunds or chargebacks, or any manual adjustments made by you in Loop.
Marketing Spends
Marketing spends are the amounts you have spent on promotions or advertising campaigns to attract more customers to your stores.
Net Payout
Net payout is the amount you receive after all the deductions, including taxes, commissions, and adjustments.
Payout ID
Payout ID is a unique identifier assigned to each payout. It helps you track and identify the payout in question.
Payout Date
Payout date is the date on which the payout was processed by the third-party platform and deposited into your bank account.
Host Kitchen
Host kitchen is the brick and mortar where the order was fulfilled. If you have multiple kitchens on Loop, this helps you track the performance of each kitchen.
Platform
The platform is the third-party platform through which the order was received, such as UberEats, GrubHub, DoorDash, etc. This helps you track the performance of each platform.
Order Value
Order value is the total value of the order, including taxes and fees.
Order Type
Order type indicates whether the order was for delivery or pickup.
Understanding these elements within payouts is crucial to managing your finances effectively on Loop. With this information, you can track your revenue, expenses, and profitability accurately. Moreover, with Loop's features to verify and export payout data, you can be sure that you are receiving the correct payouts from third-party platforms.