SmilyPay Split Payments - BETA ONLY

Note: this feature is currently in Beta mode for direct bookings only.

How does the Split Payments feature work?

For every booking, if split payment has been configured, the payout will automatically be split between the owner and the property manager.

• When the booking is confirmed, the split payment configuration that is active for the rental is used to calculate the payouts

  • If the configiration is changed after the booking is confirmed, for example the commission of the property manager changes, that will not impact the payout amounts for the booking.

• The payout amount can be seen on the Owner Payout report under Settings > Split Payments > Owner Reports

  

• For every booking on the list, there is an owner payout report showing the calculation of the owner payout amount. This can be found under Action > Owner Payout Report

  

• The Owner payout report shows the breakdown of the booking price to demonstrate how the owner payout amount was calculated. It shows the booking price, the fees and the commission of the property manager:

  

• When the guest pays for their booking via SmilyPay, the Owner Payout Amount is automatically transfered to the Owner and the remaining amount is transfered to the Property Manager.

• Both the Owner and the Property Manager receive the payout for the booking after the booking check-in date

Requirements for using Split Payments

To be able to use the Split Payments feature, an account must have:

1. The Split Payment feature enabled on the account. This is a manual action required from the Smily team
   1. The Split Payment feature and the Refund feature are linked. If Split Payments is enabled, Refunds will also be enabled by default
   2. Enabling Split Payments / Refunds has an impact on the payout schedule on SmilyPay. It means that funds are paid out after the booking check-in.
2. A SmilyPay payment gateway for each Owner
3. A SmilyPay payment gateway for the Property Manager

Note: it is necessary to complete the SmilyPay onboarding for every Owner and Property Manager

Configuring split payments

Once split payment is enabled on the account and SmilyPay gateways have been created succesfully, Split Payments can be configured.

To do this, you should go to:

Settings > Split Payments

Then click Create:

There are 4 sections to configure:

1. Property Manager Commission: enter the % commission (net / without tax) that the property manager will receive
2. Payout Configuration: for every booking, the price paid by the guest can be comprised of:
   1. Rental price
   2. Booking fees (for cleaning, linen, taxes, extra services)
   3. The Property Manager Commission
   4. The OTA commission

In the split payment configuration, you must configure who should receive each element of the payout.

1. Rental Eligibility: each split payment configuration can be assigned to specific rentals. You can create multiple configurations for different rentals if you wish.
   1. Only rentals with a SmilyPay Owner Payment gateway will appear in the list of eligible rentals.
   2. It is not possible to select rentals that already have another split payment configuration assigned
2. Property Manager gateway: every config must have a property manager gateway assigned. This is the account where the property manager payout will be sent