Sales-linked withdrawals is a new recon feature Stitch Express launched. It's been developed to help adapt our platform to cater to a more diverse set of businesses.
What is Sales-Linked Withdrawals?
As the name suggests, Sales-linked withdrawals allows you to link each incoming payment to a withdrawal from the Stitch Express platform.
The aim is to allow your business to be able to associate a withdrawal with all the different sales that make it up. Therefore, enabling you to recon your transactions even easier.
How does it work?
Sales-linked withdrawals is currently only available as an opt in feature which you must request access to via Stitch Express support.
The friendly Stitch Express support team will then enable this feature for you. They will request the below info:
What cadence you wish to have withdrawals at
Daily
Weekly
Monthly
What type of withdrawal
Standard (takes 1-2 business days to settle into your bank account)
Instant (settles into your account in real-time)
What email addresses should receive the recon file
What to expect?
Once the feature is enabled:
An automated withdrawal will occur at the cadence you specified
The withdrawal will have a unique reference on your bank statement
Your nominated email addresses will receive a file containing a list sales transactions related to a withdrawal
The file will also list the withdrawal as a line item with the unique reference
Unfortunately, due to the nature of this feature your account will no longer be able to perform ad hoc withdrawals