As you begin working with Payability, you may come across some unfamiliar terms. To make it easier for you, here are some common terms explained.
Selling Platform Charges:
This includes all charges, fees, or withheld amounts imposed by your marketplace.
If you sell on Amazon, this will include FBA fees, customer refunds, and withheld balances.
Heads up: These types of transactions will lower your available balance.
For more information about Marketplace Charges, Refunds and Holds, check out this Help article.
The Marketplace Payment is the payment Payability receives from your marketplace. If you sell on Amazon, your payments are initiated at the end of every statement period. When the Marketplace Payment posts to your Payability Account, the corresponding reserve balance is released and added to your available balance.
Keep in mind, we have already advanced a portion of these funds to you. This means that the Marketplace Payment will not be released to your available balance in full; we will release the corresponding reserve amount which we have not previously advanced.
For more information about Marketplace Payments, check out this Help article.
Every morning, we purchase your previous day’s gross sales - these are called “receivables.” If you’re an Amazon seller, only orders that are marked as shipped can be purchased and advanced.
Once purchased, we add 70-90% of those funds to your available balance. The remaining funds are added to your Reserve Balance.
For more information about Receivables Purchased, check out this Help article.
Your Reserve Amount is the portion of your sales that have not been advanced.
A reserve is very typical in factoring and can be thought of as a security deposit on the expected payment.
The reserve is released after the corresponding Marketplace Payment is received by Payability.
If you have an outstanding Amazon Loan, your Reserve Amount will be broken down to show your “regular” Reserve for the Instant Access or Instant Advance and your Loan Provision Reserve.
For more information about your Reserve, check out this Help article.
Your available balance reflects the funds available for you to transfer. Balances over $100 can be transferred to your bank account or pre-funded Payability Mastercard.
This is the amount of your available balance that you have transferred to your bank account or pre-funded card.