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Pay your suppliers and withdraw your markup from trip funds or group funds

Comments

66 comments

  • Sandy Esraeil

    What happens if there is to be a refund from the supplier in the event of another cancellation situation?

    -30
  • Alan

    Hi Sandy! The refund to the virtual card will go directly back in to the Trip Funds or Group Funds balance.

    To refund your client, there are no changes to the refund process, which can be found in this guide. 

    -1
  • Simone Hunter

    I used my virtual card for payment but the supplier site errored with no successful booking. Now the funds are no longer available and listed as authorized. How do I get the money back to send payment again??

    -20
  • Alan

    Simone, please send a message to the support team if this is not yet resolved. We will be happy to look into this for you.

    0
  • Michelle Newman

    When using this feature can we set the payment amount up with options for example monthly payment of 250.00 or two payments at the 1st and 15th for 125.00?

    -6
  • Simone Hunter

    Thanks it was resolved the same day!

    0
  • Alan

    Michelle, monthly payment options are available on both invoices and group booking pages, which can flow into Funds. I recommend searching "payment schedule" to see our different articles which cover this option. 

    0
  • Cassandra Chin-Agustin

    I have group funds waiting to pay a supplier. When I select Credit Card payment, I cannot scroll past Downtown Travel as my last vendor. I see that there are additional options under that but my scroll bar cannot view them. I need to pay 800 book a limo via credit card. Is that an option? Also, if so, is there a way for me to view them in the credit card option?

    0
  • Heidi Theis

    Please add to these instructions the fact that when you use this feature your clients can ONLY pay by CC, not EFT to Trip Funds. This was not clear and on a large ticket supplier, the difference between 4.5% and 2.5% is huge. Clients are going to flip.

     

    0
  • Dayo Esho

    Hi Heidi,

    The default payment method with trip/group funds is credit card, but clients can still pay by ACH with trip/group funds (you will need to manually enable this).

    Please keep in mind that if you manually enable clients to pay by ACH, the funds won't be instantly available for you to pay suppliers. 

    If you are experiencing issues here, please reach out to support. Thanks! 

    0
  • Liz Engskow

    How will this reflect on the client's CC?  Will it reflect a lump sum payment paid to our Travel Agency, or will they see the supplier breakdown?

    -6
  • Deneen Davis

    I need to pay two suppliers (1) TO and (2) the resort directly.   The resort will send me a link with an invoice.  Can i use the group funds virtual card for this payment? or do I need to transfer the funds to my business account to make the final payment? 

    One the client's credit card - will my business name or the TO will appear on the statement. 

     

    1
  • Alan

    Hi Liz and Deneen! This does not change how the client pays their invoices or how the payments they make will appear on their statement, which will be as your business name. 

    The Funds feature only affects what happens to the payment after the client pays. In short, instead of those funds going to your bank account, they are placed in a Funds balance that you can instantly use to pay suppliers or withdraw your markup. From the client's perspective, nothing changes. 

    You can indeed pay the supplier directly out of the Funds balance using a virtual credit card!

    0
  • Alan

    Cassandra, if you are unable to see the full list of suppliers on your computer screen because it goes out of the bottom of the screen, I recommend zooming out by holding CTRL and tapping the minus - button until you can see the supplier you need. Please reach out to support if this does not work!

    0
  • PAK 4 A Diamond Road

    Hi! 

    I thought group funds was turned on before I started collecting payments. But it appears I was wrong. I now have funds floating in space lol while my group funds balance is reflecting 0.00. Is it safe to assume that I will receive those funds in my personal bank account and that any future payments will reflect in the group funds selection? If the floating funds are to be deposited into my personal account, what does that time frame look like?

    0
  • Laticia Jacobs

    I turned on trip funds but the last 2 payments that were made from the client has shown up as regular payments. What did I do wrong? 

     

    0
  • Alan

    Hi Alexis and Laticia! This Help Center article is visible to all TravelJoy members, so I can't answer account-specific questions here. However, if you reach out via the blue Help button, I'll be happy to look into both of your questions more closely! 

    -1
  • Jennae Pitts

    How do you bring up the markup in a group is there a report or I’m I missing it?

    0
  • Alan

    Hi Jennae! Great question... There's not a report for markups right now, as our Commissions & Sales Report focuses on invoice pricing, which doesn't differentiate between supplier cost and markup. This is likely something that will be part of a future update as we continue evolving the ability to track supplier cost versus markup and commission. 

    0
  • Theresa Norwood

    How long can funds sit in the trip funds accounts?

    1
  • Alan

    Hi Theresa! It's best to think of the Funds balances as mini-bank accounts for each group or trip. Like bank accounts, the money will remain there until you use it. There is no time limit to complete this process.

    1
  • Angie Brandt

    I, too, am very interested in fully understanding the fees that go with this option. What is the CC processing fee when the client submits payment by CC and can that be built into the overall cost of the package? Also, for the withdrawl/transfer of our markup, is there another fee with that or is it part of the original CC processing fee? Again, needing to undestand the financial impact of this to determine if it makes good sense to use this feature for clients.

    0
  • Alan

    Hi Angie! Our processing fees are explained in detail in this guide. In order to pass the processing fees along to the client, we offer the option to use convenience fees, which is further described here. 

    Processing fees are only for the processing of the original payment from the client. There are no fees to pay your suppliers or withdraw your markup. 

    0
  • Vanessa Amos

    Good Afternoon,

    When we pay the vendor with the Travel Joy Virtual Card, does this payment show on the cleint's credit card statement as Travel Joy ? I know when they authorize a payment it's just an authorization and the payment doesn't post to the vendor until we process it. How does this feature get my funds from the client's card ?

    1
  • Simone Hunter

    What CC types are used for the virtual cards, i.e. Mastercard, Visa, etc? Can we request a specific type if our supplier only accepts a certain one?

    0
  • Alan

    Vanessa -- 

    While you are correct that a client can authorize payment on a supplier invoice, and their card won't be charged until you use that card to pay a supplier, that is a separate feature from what is being discussed in this guide. 

    The most important thing to remember when it comes to your Trip Funds and Group Funds is that you can think of each Funds balance as a "mini virtual bank account" that's in your name, and contains money that belongs to you. Here's why:

    • Money goes into the Funds balance when the client makes a direct payment to you
    • Money goes out of the Funds balance when you pay a supplier or withdraw funds

    What this means is that your client will only see a charge on their credit card statement when they pay you. They will not see anything on their statement when you pay a supplier, because that transaction is exclusively between you and your supplier.

    We go over this a bit more in our Funds FAQ. 

    0
  • Alan

    Simone -- 

    To the best of my knowledge, virtual cards all start with the number 4, indicating that these are Visa cards. It is not possible to choose or change the card issuer.

    0
  • Debbie Burson

    Is it possible to use group funds to pay a supplier who requires bank wire transfer only?

    0
  • Alan

    Hi Debbie!

    It is! The guide here does need an update to confirm that, so we'll add that to our list of updates.

    In the meantime, you can check out this guide: https://help.traveljoy.com/hc/en-us/articles/9043244866964-Send-your-suppliers-a-wire-or-bank-transfer-through-TravelJoy

    0
  • Shayla Brown-Molyneaux

    So I have couple of questions, 

    I am new to this so I want to make sure I am doing this right. I have a host agency (Outside agents). I like traveljoy's CRM and would love to learn how to use it efficiently because it has a lot of things that I need. 

    So 1st question: With me having an host agency, am I able to collect payments through Travel Joy? 

    2. I will almost never direct deposit funds to my account; when using a virtual credit card, I am not sending a CC authorization form to the supplier correct? I am just paying for it as if I was them?

    3. Even though I would like this option, do I still need to connect a bank account?

    4. Am I able to pay airlines with a virtual credit card as well?

    Is there a specific training on this? I tried using a test client (myself) and send $5 but did not know how to withdraw and get it to add as funds. Does it automatically go into funds or do I have to accept the charge and then it goes into funds?

    0

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