It's really important to us that you have full visibility into how shop finances work, and of course, that they are accurate and timely! Below you can find detailed information about how shop payments work, including all the nitty, gritty details.
On the 15th of each month, we pay your markups via PayPal. Markups are paid when the total you've earned (minus the fee) is greater than US$30. These payments have a small amount (3.5%) subtracted called Markup Fees, which cover payment processing.
We will pay your accrued shop markups minus the 3.5% Markup Fee to your PayPal account once a month on the 15th. Generally it will work like this: Your markup is ready for payment to you as soon as the item is shipped, up until 11:59PM UTC on the 14th. So if your item is shipped by the 14th, you will get paid the markup for that item the very next day on the 15th. If it is shipped on the 15th or 16th, you will be paid the following month on the 15th. If you have US$50.00 of accrued markups on the 16th of March, your payment will be sent out to you by the 15th of April. Thus we will make payments to you a maximum of 32 days after the date they were accrued.
Please be aware that if you earn less than US$30, then the amount will not be paid, but will accrue to your account until such time as it becomes equal to or greater than US$30. At the end of the year on December 15th, we transfer all your markups to your PayPal account even if your total is under US$30.
Why the US$30 minimum?
When we first opened our shops, we had a manual process to process everyone's payment using a combination of excel sheets and accounting software. It was really hard to accurately calculate payments. We also have a few different payment processing fees that make it tough to pay people every month who make less than US$30.
What happens if a customer is unsatisfied?
Shapeways will deal with all customer service. We want to enable you to have great designs and sell them. If an issue in your design is raised by a customer we will inform you and work with you to improve it. If a customer returns the product or gets a refund, Shapeways will refund the customer and still pay you your markup, but will endeavor to work with you to resolve the issue so it does not happen again. If there are recurring returns and/or refunds on your product, we will reserve the right to remove it from sale until the issue is resolved.
If a customer cancels their order before it has shipped, Shapeways will refund them and not pay your markup. So you would see this under Pending sales, but it would not move to Confirmed sales. Once the item is shipped, Shapeways pays you your markup, regardless of whether a customer is unsatisfied with it.
How do we account for sale dates? Is it when someone places an order or when the payment clears?
Orders are added to the upcoming payment cycle once we've received the payment from your customer. Sometimes, it may take a while for your customer's payment to clear, especially if your customer opted to use a bank transfer to pay for his or her order. You will see paid orders in the Pending Sales section of My Sales. Once they have shipped, they move to Confirmed Sales.
Does total markup include a markup fee?
We include the markup fee when we are counting whether your total markup reaches the US$30 minimum. However, your markup fee will not be included when we transfer money to your Paypal account.
Does total markup include VAT (value added tax)?
This depends on where you do business and whether you are a business owner or not. If you are a business owner in the European Union, then your markup payments will include VAT. For all other shopowners, your total markup will not include VAT.
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