Your Daily Summary is a high level view of the daily Payability transactions that impact your Available Funds and Reserve Amount.
Your Available Balance is the balance you can withdraw to your bank account or pre-funded card.
Your Available Balance can become negative or over-advanced. This can happen when the charges from your Marketplace exceed your sales, or when you are in the process of cancellation and we are awaiting to collect the previously advanced funds. A negative balance simply means that your Payability account was overdrawn.
The Reserve Amount (Non-Advanced Funds) represents the portion of your sales that is not advanced to you. The Reserve Amount is not money we physically hold; it’s included in your Marketplace balance and is released whenever Payability receives a payment from the Marketplace.
The Reserve Amount is calculated as a percentage of your Marketplace Balance (“Expected Payments to Payability”). For example, if your marketplace balance (Expected Payments to Payability) is $5,000 and your Reserve rate is 20%, your Reserve Balance will be $5,000*0.2=$1,000.
If you have a loan with your Marketplace, the Reserve Amount will be higher due to the loan provision reserve. In the header, you will see your reserve broken down into Access Reserve which is the reserve associated with your daily payouts, or Advance Reserve when you have our Instant Advance, and the Loan Provision which is representative of the amount we account for your loan payment.
The Expected Payments to Payability is the amount Payability expects to receive from your Marketplaces. Once a "Marketplace Payment" is received by Payability, the corresponding Reserve Amount (here 20% of that payment) is released and added to your Available Balance.
To review your daily transactions, click on the > to the left of ‘Daily Summary’ to expand all the transactions for any given day.
The ‘Total Amount’ is the total transaction amount whereas the next column, ‘Available Balance,’ indicates which amount affects your Available Balance. This shows the amount added to your Available Balance. In this case, 80%
In the below example, the Available Balance as of 05/14/2020 was $190.30.
Of the Receivables Funded (gross sales or total product charges) $666.62, 80% was advanced so $533.30 was added to the Available Balance. The remaining 20% = $133.32 was not advanced, and added to the Reserve Amount.
When you expand the Receivables Funded, you will see the details for the Marketplace.
If you’d like to view a transaction breakdown of each line item above, you can click on the individual line item.
For example, if you’d like to see the detailed transactions associated with the Selling Platform Charges line item, clicking the “Selling Platform Charges” line item will take you to the Marketplace Transaction Details report for that specific day.