To store vendor information centrally navigate to Contacts -> Vendors -> Create Vendor in the left hand side menu.
Start by entering basic vendor information like Vendor name, Email id, Mobile no and Address. In the Documents section enter KYC information of your vendor like PAN, Aadhar number and GSTIN. Followed by banking information of your vendor in Bank details section.
Enabling payouts to your vendors
To enable online funds transfer to franchise/vendor contact firstname.lastname@example.org
Post that, Under the Vendor Settlements section, enabling the toggle button sets up your vendor for payouts via Swipez.
Commission type — There are 2 types of commissions supported.
- Percentage based commissions are used to share a percentage of the amount collected via an invoice.
- Fixed commissions are used to share a fixed amount collected via an invoice.
Commission (% or Rs.) — Percentage or value of the commission
Settlement type — There are 2 types of settlements supported.
- Manual mode presents the commissions to be paid out for you to approve. After reviewing the calculated commissions you can make the payouts to your vendors.
- Automatic mode makes the payout as per the commissions set as soon as your invoices are paid.