How to create a Payout Rule
A payout rule instructs Tokeet to calculate a specific payout, or payable amount, for each booking in an owner statement or invoice.
Payout rules automatically apply to bookings that match a specific rule restriction you have created. For example, if you want a different payout amount for different owners, or different channels, or different rentals, you may create a rule for each case.
Tokeet will then find a matching rule for each booking depending on the booking's rental, owner, or channel when you are creating an invoice or statement for an owner.
How to create a Payout Rule
To create a rule:
- Navigate to Rules
- Click Add
- Fill out all required fields and click create to save the rule.
The Rule Restrictions allow you to limit your rule to only specific bookings. Each restriction is cumulative, so a booking must match all restrictions for the rule to apply.
You can leave a restriction empty. In this case your rule will match any value in that restriction. For example, let's say you want to match all bookings for a specific rental (Lovely Home) from booking.com. You will select the rental from the dropdown, then also select booking.com as the channel. You will not select an owner. Now, whenever you create a statement or invoice that contains bookings for Lovely Home from booking.com and for any owner, this rule will apply and the payout/payable amount will be automatically calculated by Tokeet.
Your rule formula is used to determine how you will deduct amounts such as fees or commissions from your owner invoices.
Please be advised that the Payout is calculated in two (2) ways and can be toggled with the use of the checkbox options.
If it is unchecked, the rule is handled in an aggregated way, which assembles the deductions into one amount first and then subtracts it from the booking total.
When it is checked, it changes it to a cumulative formula which would take the first deduction from the booking total, get a new total and then subtract the next deduction amount.
For example, assume the first deduction is $30 and the second is 20%.
If the booking total was $100 the unchecked (aggregate) version would work out as follows:
= $100 - ($30 + 20% of 100)
= $100 - ($30 + $20)
= $100 - $50
The checked (cumulative) version would be calculated as follows:
= $100 - ($100 -$30) - 20%
= $100 - ($30) - 20% of $70
= $70 - $14
For more examples, please take a look at this article.
- If two rules can potentially match a booking, then the higher priority number will win. The larger the priority number the more important the rule. There are 7 priority numbers, 0 through 6, 0 being the least priority and 6 being the highest priority.
- If two rules have the same priority, then Tokeet will choose one at random - typically the first one created.
- Priority cannot be manually adjusted and is based on the rule settings. The more specific your rule, i.e. the more restrictions it has, the higher its priority.
- A rule with no restrictions selected will be priority 0 and will only apply if no other rule matches a booking.