Settlement is the process by which you can calculate and remit the appropriate portion of the sales for an event (or multiple events) to a producer or promoter.
For example, your might provide a venue for a run of the shows put on by a third-party. The show is owned by a producer, and not your company. You process all of the ticket sales for the show and collect all of the payments. At the end of the run shows (or at intervals, depending on your agreement), you will:
1.Calculate the sum of all of the sales for the event(s).
2.Deduct the fees that have been agreed upon with the producer/promoter.
3.Generate a net settlement amount that will be paid to the producer/promoter.
Settlement Rules
•Settlements can contain any set of events that belong to the same organization.
•Events in the settlement can have different contracts.
•Events can only be included in a single settlement.
•Events can only be removed from a settlement if there no payments have been made towards settling the event.
•Settlements can only be deleted if there are no payments recorded against the settlement.
•Settlement names must be unique.
•Allocations of a settlement payment to the events within the settlement cannot be updated once they are created.
The following sections outline how to work with settlements:
