Owner payouts

A payout pays an owner’s available balance to their bank account. Yorlet gathers the owner’s available transactions into a payout, deducts fees and any tax due, and produces a receipt and statement for the owner. You choose whether Yorlet pays the owner from the client funds in your balance, or whether you pay them from your own bank and record it. You can review all payouts on the Payouts page, grouped by status, or on the Payouts tab of an owner’s Balance section.

​

Payout lifecycle

​

Bank accounts

An owner needs a bank account before they can be paid out. To add one, follow these steps:

1. Navigate to the owner.
2. Under the Bank account section, click Add.
3. Enter the account details. The fields depend on the country of the bank account.

You can also let owners enter their own bank details through an onboarding link. To view the full account number of a saved bank account, click Reveal. If the bank asks you to confirm the account holder’s name, a Confirm button appears; click it to acknowledge the result.

​

Pay different units to different accounts

By default every payout for an owner goes to the bank account on their owner record. If a landlord wants the income from a particular unit paid to a different account, add a bank account to the unit ownership instead:

1. Open the ownership from the Unit ownerships section on the owner, or from the Ownerships page.
2. Under the Bank account section, click Add.

Set the owner’s Payouts per unit option so that each unit is paid out separately. See Payout schedule.

​

Payout schedule

Yorlet creates payouts for an owner automatically on a schedule you choose, or leaves it to you to create them. To configure the schedule, navigate to the owner and click Edit on the Payout information section.

• Automatic: Yorlet creates a new draft payout for the owner Every day, week, month or quarter. For weekly payouts, choose the weekday; for monthly and quarterly payouts, choose the day of the month. Payouts scheduled for the 29th to 31st are created on the last day of a shorter month.
• Manual: Yorlet never creates payouts for this owner. You create them yourself when you want to pay them.

Only available funds are included, so a daily schedule pays out each payment two business days after it was received. Under Advanced settings you can also configure:

• Automatic approvals: approve new payouts as soon as they are created, instead of leaving them as drafts for you to review. Make sure your unit fees are set up correctly before turning this on, as there is no chance to review deductions.
• Negative payouts: when the owner’s balance is negative, request payment from them instead of waiting for new income. See Negative balances and payment requests.
• Payouts per unit: for landlords, create a separate payout for each unit rather than one payout for all of their units. Use this with per-unit bank accounts.
• Payout receipt email: email the owner a receipt when a payout is paid.

Below these, set the Statement descriptor that appears on the owner’s bank statement, the Payout receipts email to send receipts to if it differs from the owner’s email, and any Emails to CC.

​

Create a payout manually

To create a payout yourself, follow these steps:

1. Navigate to the owner.
2. Use the Actions menu and select Create payout, or click the overflow menu (•••) on the Balance section and select Create payout.
3. Review the Payout amount. Yorlet shows the available balance that will be included.
4. Optionally change the Statement descriptor.
5. Turn on Apply unit filter if you want deductions included only when there is income for their unit. See Unit filter.
6. Turn on Periodic payout to attribute the payout to a date range. Yorlet prorates income that straddles the period and shows the adjustment on the statement. This is only available for owners on a Manual schedule.
7. Click Payout.

The payout is created as a Draft for you to review.

​

Unit filter

With Apply unit filter on, Yorlet only includes a collection in the payout if the payout also includes income for the collection’s unit. If a unit’s collections exceed its income, both are held back until there is enough income to cover them. This stops you paying out one unit’s rent while a fee on another unit goes uncollected. Scheduled payouts always apply the unit filter.

​

Review a draft payout

Open a Draft payout to see every line it includes, grouped by type, with the Net amount that will be paid. While the payout is a draft you can:

• Click Collection to create a collection that is deducted from this payout.
• Click Reserve to reserve funds from this payout.
• Click the overflow menu (•••) on a line and select Remove to take it out of the payout. The transaction returns to the owner’s available balance and is picked up by the next payout.
• Select Update on a line to change whether it is Visible to owner on the receipt.
• Select View, View unit or Trace to follow a line back to the collection, unit or transfer it came from.

​

Approve a payout

To approve a payout, open it and click Approve payout, or press a. Review the Payout amount, any Non resident tax deduction, and the Net amount, then:

1. Optionally change the Statement descriptor.
2. Choose the Payout method:
   • Automatic: Yorlet pays the owner from the client funds in your balance. This requires the Balance plan and a bank account on the owner. See Automatic owner payouts.
   • Manual: you pay the owner from your own bank and record the result in Yorlet.
3. Click Approve.

Approving a payout deducts the net amount from the owner’s balance, assigns the payout a statement number, and moves it to Pending. If the owner is a non-resident landlord, the tax deduction is created as a collection at this point. See Tax reporting.

​

Pay a payout

How you pay depends on the Payout method:

• Automatic: click Pay payout, or press p. Yorlet sends the funds from your balance and the payout moves to In transit, then to Paid when the bank confirms it. If the bank rejects the payment, the payout returns to Pending with the error shown so you can fix the bank details and pay again.
• Manual: pay the owner from your bank, then click Mark as paid, or press p. Set the Paid at date and choose whether to Send a payout receipt to the owner.

To pay many owners at once, add their pending payouts to a payment run. When a payout is paid, the collections it deducted are marked Paid and credited to their destinations, and the owner is emailed a receipt if receipts are enabled.

​

Mark a payout as failed

If a manual payout could not be paid, for example because the bank rejected it, open the payout, click the overflow menu (•••) and select Mark as failed, or press f. Enter a Failure message and, if the bank details were wrong, turn on Mark bank account as errored so the owner is prompted to update them. The funds return to the owner’s balance and are included in their next payout.

​

Cancel a payout

To cancel a Draft, Pending or Requires payment payout, open it, click the overflow menu (•••) and select Cancel payout, or press c. The funds return to the owner’s balance and any collections included in the payout return to Applied.

​

Negative balances and payment requests

If an owner’s balance is negative when a payout is approved, for example after a large collection or a reversed transfer, the payout has a negative net amount. What happens next depends on the owner’s Negative payouts setting:

• Off: the payout cannot be approved. Cancel it and let the negative balance be recovered from the owner’s future income.
• On: approving the payout creates a payment request for the amount owed, using the payment methods you have enabled for owner payouts. The payout moves to Requires payment and shows a Hosted payment URL where the owner can pay. When the owner pays, the payout is marked Paid and the balance is settled.

​

Payout receipts

When a payout is paid, Yorlet emails the owner a receipt with a PDF statement listing every transaction included, unless Payout receipt email is turned off for the owner. To download the statement yourself, open the payout, click the overflow menu (•••) and select Download receipt. Account-wide options for statements are in your payout settings:

• Statement descriptor: the default text on owners’ bank statements. If you leave it empty, YORLET is used.
• Use public business name: show your public business name on statements instead of your account name.
• Hide percentage from management fee: show management fee lines without the percentage rate.
• Monthly balance statements: email every active landlord a statement of activity at the end of each month.