When payments are made by your customers through Wholesail, we will create and reconcile these payments in your accounting system automatically in three steps:
- Create the payment immediately when it is made through Wholesail by a customer
- Apply the payment to the relevant invoices
- Create the deposit in your accounting system when a payout is initiated to your bank account. This deposit in your accounting system will match the deposit made to your bank account and will apply the relevant payments and fees assessed by Wholesail. This deposit will often be a batch of several payments.
Do not create deposits manually for Wholesail payments since this will prevent Wholesail from creating the deposit automatically. Wholesail’s deposit in your accounting system will be created on the same day the payout is initiated to your bank account.
Accessing information about deposits from within Wholesail
You can access a list of Wholesail payouts from Payments > View Payouts. This shows a list of all payouts made by Wholesail and any fees deducted from the payout:
Selecting any of these deposits will show the payments associated with that deposit: