When you set up paid event ticketing or donations, you send us information to set up electronic fund transfers (EFT). This allows us to send money directly to your bank account. We send the money for different things at different times:
|Tickets||**Please see amended ticket settlement schedule due to COVID-19 below|
|Donations for 501(c)(3)s||2 business days after the donation is given|
|Donations for Fiscally Sponsored Projects||Donations go to your sponsored fund|
|Memberships||2 business days after the membership is purchased|
|Passes||2 business days after the pass is purchased|
From there the money moves through the electronic payment processing system which sends it to your bank account. Typically, you can expect the funds to be deposited in your bank account 7-10 business days after a show date passes or a donation is made.
How will it look in my bank account?
The settlement will arrive in your bank account as an ACH Credit from Fractured Atlas, along with a string of numbers. The first six digits include the show date.
Viewing Past and Upcoming Settlements
To view settlements, go to the Reports menu and click on Settlements. Toggle between Sent and Upcoming to view past and pending settlements to your account. When viewing past settlements, use the "Work with..." button to download a CSV.
Within the settlements table you'll find the following columns for:
|ID||The order numbers will be hyperlinked to take you to the Order Details page for that transaction.|
|Item||Either the name of the event a ticket was purchased for, a donation, or membership or pass sale.|
|Detail||Either the show date, pass type, or membership type.|
|Gross||The total amount of funds in the settlement before any service or credit card transaction fees are removed.|
|Realized||If you have passes and/or memberships set up with the producer paying the service fee, this column shows revenue after service fees for memberships or passes have been deducted.|
|Net||The final amount settled to your organization. For memberships and passes, this will be the revenue after the credit card processing fees are deducted from the realized column.|
Note: Artful.ly does not send you deposit notifications. Check your bank's online statement to see if they have posted the funds to your account. Bank holidays can sometimes delay when a settlement reaches you, so be mindful of shows that happen right before a 3 day weekend. Also, banks can occasionally delay a deposit if it's larger than average for your bank account; it's rare, but can sometimes prolong the settlement period.
**Amended Ticket Settlement Schedule due to COVID-19
As we are all currently experiencing unprecedented cancellations due to COVID-19, Fractured Atlas is instituting a new verification process before event settlements are released. This process will allow you to receive the money you’ve earned through your ticket sales while decreasing the burden of processing refunds after the fact and protecting ticket buyers who may expect a refund for canceled shows. The process is detailed below:
A Fractured Atlas Team Member will confirm the details of your event.
- Within 2-3 business days of your scheduled event, a Fractured Atlas team member will seek to confirm that the event occurred, either as planned or via alternate methods (online streaming, videoconferencing, etc.).
- As part of this confirmation process, we will request verification from you that the scheduled event occurred and was attended by ticket buyers. Expect to receive an email (or multiple emails if you’re selling tickets for more than one event) with the subject line “Action Required: Artful.ly Settlement Verification.” If your event did not occur but has also not been postponed or canceled, please be ready to discuss your plans for moving forward.
- If you have not been contacted about a settlement at least 2-3 business days after your event occurred, please email email@example.com.
Settlements will be issued only when we’ve confirmed that the event occurred and all appropriate refunds have been issued.
- Settlements for events that have been postponed will be issued once the event occurs.
- If a ticket buyer for a postponed or canceled event wishes for their purchase to go to support your work regardless, we will require an email from your patron confirming their intention.
This new process will only affect settlements for ticket sales.
- Settlements for donations and passes will occur as scheduled.
Once the settlement is initiated, it will take about 7-10 days for ticket sale money from each show to end up in your bank account.