How are Earnings paid to Sellers on Kraftwurx? |
Kraftwurx issues payments for "Cleared earnings" the fifth day of every month AFTER the item ships. Cleared earnings are earnings that have been held for 30 days since the date of transaction (sale) for the product AND that the item has actually shipped to the buyer. Your sales each month are accrued in your account as total earnings accrued (including cleared earnings) until the first of each month. Cleared earnings also have a minimum for automatic payment of $100. This means you will not be automatically paid unless your "cleared earnings" is $100 or more. If your balance is less than $100 after 90 days, you will automatically be paid the "cleared earnings" in your account. Pending earnings are earnings you have accrued that will be paid to you after the clearance period (30 days) and that have NOT shipped. Pending earnings include sales that have not shipped. For example: If you have in $175 in "cleared earnings" in December and earn no money on January 1st-January 7th. Then, you earn $300 between January 8th and January 31st. On February 1st you will be paid $175 to your PayPal account on record. The $300 in earnings accrued in January, clear in February and are issued the 1st of March. Essentially, Kraftwurx hold earnings for 30 days and releases them for payment after the "clearance period" AND the item has shipped. Why do you have a "clearance period"? Kraftwurx holds funds for the clearance period in order to ensure we adhere to accounting standards. Kraftwurx uses Accrual accounting principals. NOTE: Kraftwurx currently makes payments only through Paypal for Sellers. You must have a Paypal account in order to receive your payments.
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