After a customer makes a payment, the funds will first enter Pinkoi’s company account. Pinkoi will complete reconciliation on behalf of the designer and the funds will then be transferred to an account designated by the designer on the 20th of the next month.
1. Customer payment:
Designers will not directly receive payments from customers. Pinkoi also will not transfer payments to designers on an order by order basis. All customer payments will first enter Pinkoi’s company account. Pinkoi will assist designers in completing fund reconciliation.
2. Adding orders as revenue:
After the designer clicks on the “Send” button, the order will be added to the month’s sales statement. On the 10th of every month, Pinkoi will calculate the total shop revenue for the previous month.
Example: A customer places an order and submits payment on 01/31. The designer then ships the item and clicks on the “Send” button on 02/08. The revenue for the order will then be added to February’s sales statement.
3. When funds are transferred:
On the 20th of every month, Pinkoi will transfer the previous month’s shop revenue to an account specified by the designer. If the day of the transfer happens to fall on a public holiday in Taiwan, the funds will then be transferred on the next working day.
Example: If 01/20-01/21 is a public holiday in Taiwan, funds will then be transferred on 01/22.