If you’re running your business via Shopify, sooner or later, you’ll need to get paid. Before receiving payments, you may want to adjust various settings, one of them being your payout schedule. Here’s a guide on changing the payout date on Shopify.
Recommended Shopify app
How payouts work on Shopify
Bear in mind that you won’t see payout information in your admin dashboard if a customer pays through a third-party payment gateway. You will need to go to your third-party payment website to see the payout information.
For example, if you have the PayPal gateway enabled, you will need to log into PayPal to see when you get paid. They have just released the option to automatically transfer your PayPal balance directly to your bank account.
Ways to accept payments
Here are some payment gateway providers store owners can set up on their Shopify store:
- Shopify Payments
- Apple Pay
- Amazon Pay
- Meta Pay
- Apple Pay
- Google Pay
Depending on the payment provider, you may be charged third-party transaction fees. If a customer fails to make a transaction, check their credit card payment information and your fraud prevention section.
Steps to change your payout date with Shopify Payments
Before we begin, here are a couple of points to bear in mind:
- You can choose to get paid every business day
- To be paid at regular intervals, you can set schedule payouts on a daily, weekly or monthly basis.
- Payments are delayed until the next applicable week after you change your schedule.
- Depending on the customer’s payment method, banks may take additional time to process deposits into your bank account. As a result, funds may not immediately appear in your bank account after payment.
- Payouts in Japan are scheduled on Fridays by default. You do, however, have the option of being paid weekly or monthly.
- Shopify store owners in France cannot customize their payout schedule.
- Log in to your Shopify admin dashboard, then go to Settings > Payments.
- Click Manage in the Shopify Payments section.
- Scroll down until you see the Payout schedule box, and select a schedule that suits your needs.
- Click Save.
iPhone & Android
- Open the Shopify app and navigate to Store > Settings.
- Once Store settings are visible, select Payments.
- In Shopify payments, click Manage.
- Choose your desired payout schedule in the Payout schedule section.
- Click Save.
Handling failed payouts
Payouts can fail for several reasons. When this occurs, you’ll receive a message on the payout page and an email containing possible solutions. If you’re unsure why the transaction failed, contact Shopify or your bank.