Payout Overview – VAT and WHT

Objective

As a Venture, we want to display the VAT and WHT separately from commission and fees on the Payout Overview for Sellers. This provides Sellers with a better overview.

By default, admin, maintenance, backend finance, and backend Seller setup roles can write the settings.

Setup

Step Description Image
 1
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Go to Administration > Settings

In the “Finance” group, find “Display VAT on Seller Payouts” (active / inactive) and “Display WHT on Seller Payouts” (active / inactive).

  • Activate what is required.

 

“Display VAT on Seller Payouts”:

  1. “Active”: VAT will be displayed as a separate line on the account statement; fee amount will exclude VAT.
  2. “Inactive”: VAT will be included in fee/commission amount on the account statement.

 

“Display WHT on Seller Payouts”:

  1. “Active”: WHT will be displayed in the (i) bubble on the account statement; fee amount will exclude WHT.
  2. “Inactive”: WHT will not be displayed on the account statement; fee amount will exclude WHT.
Critical KnowledgeIf you want to include WHT in the fee amount, please raise a TMLSD ticket. The parameter that needs to be enabled is transactions/include_wht_in_amount.

 

 Settings___Seller_Center_VATWHT

 

Payout Overview

Step Description Image
1 Go to Reports > Account Statements 3_account_statement
2

The current statement can be found at the “Current Statement” tab.

The following variations are possible:

Case 1

  • “Display VAT on Seller Payouts” = “Inactive”
  • “Display WHT on Seller Payouts” = “Inactive”

Case 2

  • “Display VAT on Seller Payouts” = “Active”
  • “Display WHT on Seller Payouts” = “Active”
    • WHT is not included in the Payout calculation.

Case 3

  • “Display VAT on Seller Payouts” = “Active”
  • “Display WHT on Seller Payouts” = “Active”
    • WHT is included in the Payout calculation.

Case #4

Can occur if “WHT included in calculations” has been activated in the middle of the account statement period.
  • “Display VAT on Seller Payouts” = “Active”
  • “Display WHT on Seller Payouts” = “Active”
    • WHT is included in the payout calculation (will be displayed as a separate line).
    • WHT is not included in the payout calculation (will be displayed in the info bubble).

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For information on the tax setup, please read this page.