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How-To: Updating Payments Using Auto-Deposit Rules

  • Updated

Content

Overview

Using the auto-deposit rules, agents can distribute their income across accounts, whether Wallet accounts or an external account. The accounts must be listed within the Tax & Payout Settings to use the Auto-Deposit Rules. 

Note: For the auto-deposit rules, only one external account is allowed, and this feature is currently only available for single-check payment states. Split-payment functionality coming soon. As an alternative, we can offer the Send Money option to send money to an external account (see KB article: Move Money).

 

Process

To set up the Auto-Deposit Rules, the agent would need to first set up their payment method(s) within the Tax & Payout Settings. If the agent has opened a Wallet account and has not entered an external account, the Wallet account will appear there by default.

Step 1: Setting up Payment Methods

  1. Open reZEN
  2. Navigate to the Tax & Payout Settings
  3. Click ‘Start Over’
  4. Enter external or Wallet Bank Info and select Commission or RevShare Payment Only
  5. A second bank account can be added by clicking ‘+Add Another Bank Account’
  6. Save Changes

Step 2: Setting Up Auto-Deposit Rules

  1. Navigate to Wallet
  2. Click Set up auto deposit rules
  3. Click Edit Rules
  4. Choose All Income or Income By Source to select the account and percentage to receive your income
  5. Click Save Changes

* Only one external account is allowed

Duplicate Wallet accounts

If agents would like to route funds to their Wallet account(s), they should select the account that was automatically added when they signed up for the Wallet account(s) and not manually enter the Wallet account information within the Tax and Payout Settings. When agents add their Wallet account again within the Tax and Payout Settings, this typically leads to duplicate Wallet accounts in the Auto-Deposit Rules drop-down and within the Tax and Payout History. Also, the funds are treated as if they were being routed to an external account showing ‘Microsoft Dynamics’, with a 2-5 business day timeframe to receive the funds to their Wallet account.

If an agent has duplicate Wallet accounts within the Tax and Payout Settings or the Auto-Deposit Rules, they would need to select the correct Wallet account within the Auto-Deposit Rules and remove the duplicate Wallet account from the payment history.

  1. Check the Tax and Payout Settings and history, and the auto-deposit rules to see if there are duplicate Wallet accounts
  2. If there are duplicate Wallet accounts, check the Outgoing Payments to see if the Payment System in question shows ‘Wallet’ or ‘Microsoft Dynamics’
  3. If the Payment System shows ‘Microsoft Dynamics’, let the agent know that the payment will take 2-5 business days and provide the steps to resolve the issue going forward
    • Macro: Duplicate Wallet Accounts

To Revert Back to Old Payment Method

  1. Instruct the agent to click ‘Start Over’ within the Tax & Payout Settings and add the original payment method, and verify that the Auto-Deposit Rules are set
    1. Use macro: Revert Back to Old Payment Method

To Revert Back to Wallet

  1. The agent can use the Auto-Deposit Rules to route payments back to Wallet and verify that the Auto-Deposit Rules are set
    1. Use macro: Revert Back to Wallet

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