Split Payments *URGENT*

[zionp]

Hi I'm looking for an addon or something that would enable me to split the payments for items.

 

I'm looking to put together a shop where people can register and sell their own items. Then once payment has been made, 90% of payment goes to the original sellers and the remaining 10% goes to the shop upkeep.

 

This is quite urgent. Also willing to pay.

 

Please help.

[Guest]

I don't know if that exists but have you thought about the transaction fees, rolling reserve funds, chargebacks, etc. These costs add up. Say you sell something for $100 you would have;

 

Transaction Fee $0.35

CC Fee $2.35

Rolling Reserve $5.00

90% Payout $90.00

 

For you $2.30

 

And if there is a chargeback you will have to absorb all the costs for that. IMO you should adjust your 10% to better reflect your costs, say they get 90% less all transaction fees. And then hold the money for 30 days before you send it to them. If these people that you pay are ones that you deal with once I can see you getting ripped off, if this is going to be long term relationships then over time you can adjust the levels accordingly.

 

As for the accounting of this it might be better to do it via an accounting program such as QuickBooks where by modding one of the QB XML contributions (not Adam's but one of the smaller ones) you could get the transaction values from osC and then add the info to QB where you would have the amounts available as an Accounts Payable. Then when they are supposed to get their money you can pay your bills and write the person a check.

 

The other way would be to hack one of the Paypal modules so that they customer on your site uses your suppliers paypal account and then your supplier sends you 10%. This would work if someone only purchases from 1 of your suppliers upon checkout which is highly unlikely to work in the long run.

 

When you are starting out there won't be too many sales so maybe just keeping track of it with pen and paper would be okay and send the money via Paypal when it is due to the person or just add the info to Outlook Calendar.

 

Remember if there is a way to rip you off someone will find it. You have to think of all the "what if" senerio's and think of all the implications. What if your supplier does not send the product, what if the customer says they didn't get the product, what if they return the product, what if they do a chargeback 3 months from now and try and limit/eliminate as much of your exposure as possible.

 

Sorry for the long post that does not really answer your original question but I cringed when I read what you wanted to do as it would open you up to too much risk for very little money.

[IgnisSerpentus]

I dont think there is anything that will split payments. Most companies that allow others to sell have an onboard accountant to handle all that (and the smaller companies just handle it themselves) Im kinna in the same predicament and Ive yet to find a mod that changes it :(