All the financial information you can find on the Finance page. It includes 3 sections containing the information about:
- Payouts: general information about your payouts.
- Expected Invoices: operations that have not yet been paid out.
- Invoices: billing information and payout statuses.
Payout Dates and Delay
Joom transfers payouts to merchants twice a month: at the beginning of the month (around 1-5th day) and in the middle of the month (around 15-20th day).
Payout will be transferred to the merchant only if the payout amount exceeds $20. You can also set a minimum payout amount to have more control over the frequency and amount you receive from the platform.
The period of payout delay varies from two weeks to eight weeks. For merchants whose accounts have been closed by Joom, the period of payout delay is twelve weeks.
Final Payout amount = Total sales amount merchant made - commission - refunds - additional logistic cost - Joom Ads cost
⚠️ PLEASE NOTE: There is no delay in the deductions from the logistics invoices and Joom Ads invoices. For example, the logistics bill for the first half of September will be reflected in deductions in mid-September, the logistics bill for the second half of September will be reflected in deductions in early October, and so on and so forth.
To learn more, please refer to the article When and How Much Money Will I Receive from Joom.
Payout Channels and Methods
The merchant can create several payout methods. However, all payouts will be transferred to the payout method that was chosen for payout channel at the payout date. Merchants can change the payout method selected for payout channel if needed.
As Joom works only with companies, you have to indicate the company account (not your personal account) specified in the legal documents accepted during registration, whenever you provide payout information. Payout account must belong to the company stated in your KYC Profile, which must be filled out and approved.
To learn more, please refer to the article Payout Settings.
👉 For more detail about Joom Payout, please refer to our ▶️Live Stream replay about Invoices and Payouts.