Shopify Payouts Explained | Shopify Payout Schedule | Shopify Payout Report.

Summary

In this informative video, the speaker addresses concerns about Shopify payments, particularly for new store owners facing delays in receiving their first sale. They explain how payment processing works, including the significance of cutoff times and payout frequencies. Viewers learn about the distinction between Shopify Balance accounts and traditional bank accounts, as well as troubleshooting steps for unresolved payment issues. The speaker also shares a real-time example of a payment received, emphasizing the importance of monitoring account settings and contacting Shopify support for persistent problems.

Takeaways

• 💡 Shopify payments operate like a regular bank account; payouts are processed based on a schedule.
• 🕒 Payments received after 6 PM EST are paid out the next business day.
• 💰 If you have a Shopify balance, check your available balance and pending payouts in the finances section.
• 🔍 New Shopify accounts may experience a verification period for their payments.
• 📅 Payout frequency can be adjusted; options include daily, weekly, or monthly.
• ⚠️ Payments may not appear until their scheduled payout date, depending on your settings.
• 📞 If payments are delayed or missing, contact Shopify support for assistance.
• 📈 Monitor your balance and transactions regularly to keep track of your earnings.
• 🔄 Regular updates can occur, so check back frequently to see recent transactions.
• 🎥 The creator plans to address manual payments in a future video due to issues faced in their business.

Q & A

What is the main purpose of this video?

The video aims to provide information regarding Shopify payments, particularly addressing why payments may be held for new Shopify stores.

What might cause a new Shopify store's payments to be held?

Payments may be held due to processing times, verification of transactions for new accounts, or payout scheduling settings.

How does the Shopify balance card function regarding payments?

The Shopify balance card operates like a bank account, with funds from sales processed after 6 PM Eastern Time being available the next business day.

What should a user check if they don't see their payment after a sale?

Users should check their payout frequency settings and ensure they are aware of when payments are scheduled to be made to their accounts.

What is the process to view payout details on Shopify?

To view payout details, users should go to the 'Finances' section and click on 'Payouts' to see pending and completed payments.

How often can Shopify users choose to receive payouts?

Users can choose to receive payouts daily, weekly, bi-weekly, or monthly, depending on their settings.

What should a user do if payments are still not appearing after several days?

If payments are still not visible after several days, users should contact Shopify support to resolve any potential issues.

What was a recent personal experience shared by the speaker regarding payments?

The speaker shared that a payment of $3,441 came through shortly after recording, illustrating the process of payouts.

What additional topic does the speaker plan to cover in the next video?

The next video will discuss accepted manual payments on Shopify and the associated issues experienced by the speaker.

Why might a new Shopify account face delays in receiving payments?

New Shopify accounts may face delays as transactions need to be verified and the account status confirmed before funds are released.