Payouts received a visual update to improve functionality, reduce errors, and streamline the payout process.
With the previous build of payouts, there were a lot of functions that were a little disorganized and confusing, especially if your payout process was multiple steps. If your store prints checks, lists, and sends data to QuickBooks, for example, running payouts was a tedious process that required multiple views and opportunities for errors.
We’ve cleaned all of this up. Since there are so many functions and ways to now pay out consignors, we’ve brought them all into one button with a dropdown. From there, you can choose some contextual payout options such as check fees, first check numbers, or print a list on individual sheets for reference.
Once you return from the print preview, you can either post the payout or cancel. This function is particularly important because it allows the possibility of printing errors such as a jam, and not having to revert and redo an entire payout. Because the payout hasn’t officially processed yet, you can cancel, try again, and then post the payout.
Consignor credit can now be paid out as store credit with a preferred split.
All consignors can now be directly paid out to their account with store credit. Additionally, items can have updated splits when being paid out to store credit.
If your store offers payout benefits to consignors to keep their credit in-store, this is the perfect solution for you! When you pay out a consignor with store credit, you’ll be prompted with the option to update the split on items. From there you can choose to keep or change it depending on the incentive systems you’ve set up in your consignor contracts.
Clearing out $0 balance payouts is easier than ever.
We’ve recently noticed there are lots of stores that ignore consignors with a payout balance of $0.00. While not inherently a bad practice, this can eventually cause dramatic slowdowns as your pending payout database grows over time.
To solve this, we’ve added a small warning box when your store has $0.00 balance payouts pending. Because there are no checks to be printed, only records to be kept, you can clear all of these accounts with a simple one-click button.
Ricochet is dedicated to modernizing consignment.
We’ve released countless updates over the years to keep consignment modern and allow the industry to use contemporary and powerful technology tools. Using checks to pay out consignors is one of the last bastions in consignment that still lingers around from the early days. With this latest update, we hope that stores can save time and serve their consignors much more easily with simplified payouts.
We’ve got lots more to come and we are excited to see how consignment grows this year as stores slowly start to reopen and welcome customers back into their doors.