Financial Overview
TMT manages multiple financial flows:- Payment Methods: How customers pay for tickets
- Payout Methods: How clients receive their revenue
- Custody Accounts: TMT’s accounts for holding funds
- Orders: Ticket purchase transactions
- Payouts: Revenue distribution to clients
- Reconciliation: Matching bank transactions to system records
Payment Methods
Payment methods define how customers can purchase tickets.Creating a Payment Method
- Example: “Visa Credit Card - Venezuela”
- Be specific about method and region
- Options: Bank Transfer, Credit Card, Digital Wallet, Cash, etc.
- Configured in system setup
- USD, EUR, VES, or other configured currencies
- Must match the custody account currency
- Dropdown populates based on payment type and currency
- Examples: Visa, Mastercard, Zelle, PayPal, Bank Transfer
- Choose the TMT account that will receive these payments
- Must match payment type and currency
- Custody accounts defined in system configuration
- Platform fee or convenience fee
- Integer value between 0-100
- Applied to transaction total
- Example: 3 = 3% fee
Field requirements vary based on selected method. The form dynamically shows only relevant fields.
Payment Method Management
- Status: Toggle active/inactive
- Edit: Update details, percentage, or custody account
- View details: See full configuration
- Transaction history: Track usage and volume
Payout Methods
Payout methods define how TMT sends revenue to clients.Creating a Payout Method
- Example: “Client ABC - USD Wire Transfer”
- Include client name and payment type
- Bank Transfer, Digital Wallet, Check, etc.
- Must match available payout providers
- Must match client’s preferred currency
- Affects exchange rates and fees
- Dropdown populated by type and currency
- Examples: Wire Transfer, ACH, PayPal, Zelle
Payout Method Security
- Only authorized users can create payout methods
- All changes logged with user and timestamp
- Sensitive data encrypted in storage
- Requires verification before first use
- Regular audit of active methods
Processing Orders and Payments
Order Lifecycle
- Order Created: Customer initiates ticket purchase
- Payment Pending: Awaiting payment confirmation
- Payment Received: Funds received in custody account
- Tickets Issued: QR codes generated and sent
- Order Complete: Transaction finalized
Viewing Orders
Access orders through:- Event detail > Orders tab
- Customer profile > Orders tab
- Orders menu > All orders
- Order ID and date
- Customer information
- Items purchased (tickets)
- Payment method used
- Total amount
- Payment status
- Transaction ID
Payment Status Types
- Pending: Payment initiated but not confirmed
- Completed: Successfully processed
- Failed: Payment declined or error occurred
- Refunded: Payment returned to customer
- Partially Refunded: Some amount returned
Managing Payouts
Payouts distribute event revenue to clients according to contract terms.Creating a Payout
Payouts are typically generated automatically based on:- Event completion
- Contract payment schedule
- Revenue reconciliation
- Minimum payout threshold
Manual Payout Creation
Payout Status Tracking
- Pending: Awaiting approval
- Approved: Ready for processing
- Processing: Transfer initiated
- Completed: Funds delivered
- Failed: Transfer failed, requires action
- Cancelled: Payout cancelled
Payout Detail View
Shows:- Event information
- Client details
- Gross revenue
- Fee breakdown
- Net payout amount
- Payment method
- Status and timeline
- Transaction reference
Custody Accounts
Custody accounts are TMT’s accounts for holding funds between collection and payout.Account Purpose
- Receive customer payments
- Hold funds during event period
- Source for client payouts
- Facilitate reconciliation
- Support multiple currencies
Account Management
For each custody account, track:- Account balance
- Transaction history
- Reconciliation status
- Associated payment methods
- Currency
- Bank or institution
Bank Reconciliation
Reconciliation matches bank transactions to system records.Reconciliation Process
Reconciliation Best Practices
- Reconcile at least weekly
- Document all manual matches
- Investigate discrepancies immediately
- Keep detailed records
- Separate duties (different people reconcile vs. process)
Financial Reports
Generate reports for:Revenue Reports
- Total sales by event
- Sales by payment method
- Revenue by zone/ticket type
- Sales velocity over time
- Projected vs. actual revenue
Payout Reports
- Payouts by client
- Payouts by time period
- Pending payouts
- Payout success rate
- Average payout time
Reconciliation Reports
- Conciliated transactions
- Outstanding discrepancies
- Manual matches log
- Exception summary
- Account balances
Fee Reports
- Platform fees collected
- Payment processing fees
- Net vs. gross revenue
- Fee percentage by method
Best Practices
Payment Security
- Use PCI-compliant payment processors
- Never store full credit card numbers
- Encrypt sensitive financial data
- Require strong authentication
- Monitor for fraud patterns
- Maintain PCI DSS compliance
Payout Accuracy
- Double-check all payout details
- Verify bank information with clients
- Test small amount before large payouts
- Maintain clear contract terms
- Document all fee calculations
- Get client approval on payout amounts
Financial Records
- Keep detailed transaction logs
- Archive bank statements
- Document all manual adjustments
- Maintain audit trail
- Regular backups of financial data
- Retain records per legal requirements
Multi-Currency Handling
- Clearly display currency in all interfaces
- Use accurate exchange rates
- Document rate source and timestamp
- Account for currency conversion fees
- Reconcile in original currency when possible
Troubleshooting
Payment Method Not Available
Issue: Method doesn’t appear in event setup Solutions:- Check method status is active
- Verify currency matches event needs
- Confirm custody account is configured
- Ensure method type is supported
Payout Failed
Issue: Payout marked as failed Solutions:- Verify account details are correct
- Check account is active and accepting deposits
- Confirm sufficient funds in custody account
- Review for holds or restrictions
- Contact bank or payment processor
- Retry with updated information
Reconciliation Discrepancies
Issue: Transactions don’t match Solutions:- Check for timing differences (payment processing delays)
- Verify amount includes/excludes fees correctly
- Look for duplicate entries
- Confirm currency conversions
- Check reference numbers and IDs
- Contact payment processor for details
Missing Transactions
Issue: Order in system but no bank deposit Solutions:- Check payment status (may be pending)
- Verify payment method was charged successfully
- Contact payment processor
- Review for refunds or chargebacks
- Check if deposited to different account
Related Resources
- Managing Users - Set up clients who receive payouts
- Creating Events - Configure event payment methods
- Processing Tickets - Tickets generated from orders