Payouts

The platform offers different payout options. Payout options may be configured for your specific requirements during platform customization process or on-demand.

Please note the MLM Soft is not a financial institution, thus MLM Soft platform don't provide any payment processing, but calculations and payout DATA management.

We user a concept of virtual wallets for this. Each account have 1 or more virtual wallets (possibly in different currencies). Each wallet is a set of transactions: incoming and outcoming.

You may think of it as of your banking account, except there's no actual money involved, just data.

In that case a payout operation is just an outcome transaction writing off money from a virtual money. That money is supposedly paid by your company to a certain recipient. How you do this payment is outside of the platform's functionality.

Payout Request

To help you keep track of payout requests versus actual payments, there's a useful entity called Payout Request.

All the payout transactions can only be added to a wallet based on a certain payout request.

Each payout request has certain status:

• new
• pending
• complete
• canceled

Requests can be generated automatically as a part of the compensation plan algorithm, can be create by an admin as a bulk, or withdrawals can be requested by users themselves in the Online Office app. 

All new requests are in NEW status. Deduction transaction is already added to a wallet at the moment of creation of a request to prevent double request for the same amount of money.

You can change status of a request (one by one or in bulk). Use Pending status when you send the requests to processing, for example you've sent them to you accountant to initiate ACH or wire transfers, or your uploaded them to your payout provider.

Once payment is performed you should mark respective request as Complete, so you'll be sure you won't pay it over again.

You can manually Cancel each request. In that case money would be credited back to user's virtual wallet as a separate transaction.

Payment Details

Another thing what payout requests do is gather payment details that you need to actually process the payment.

There's required an optional data.

Required data is:

• Account ID – who's requesting a payout
• Source wallet – from where
• Amount – amount of payout (it's checked automatically on payout request form in the online office app)

Optional data can be configured on request and usually consists of a number of fields that you need for payment processing purposes.

For example, if you do payout using ACH you may need the following details:

• Account Name
• Account Number
• Routing Number

if you do payout using crypto-wallets what you need is probably just a wallet number.

Conclusion

In other words, what MLM Soft platform is automating is this: 

1. putting commissions to users' virtual wallets
2. providing users with an interface to request payout
3. providing admin with an interface to create payout requests for their users
4. to gather required payment details during payout request in the online office
5. to maintain processing status for each payout request
6. option to export all or just new payout requests to CSV, so it can be send to your payment provider to process the payments
7. options to export directly in PayQuicker-compatible format, to upload to your PayQuicker admin portal, if you use this payment provider