Getting Paid
At CourseStorm, we not only provide online registration services for our customers, but also the payment processing as well. By bundling together the two systems, we make it impossibly simple to begin taking online registrations for your classes.
How are transactions processed?
When registrations are paid by credit card, those transactions run through our secure (and PCI compliant) payment processing run in coordination with Stripe. When the credit card is charged at the time of registration, the funds for the registration are placed into escrow where they sit until they are released directly to your bank account on the date of payout.
We process cards this way for a very simple reason: we want to make issuing refunds for your classes completely pain-free. How does this help? Organizations who take registrations ahead of a given class will have registrants who cancel their registration. Too often, these organizations then typically must contact their billing department who must then issue checks and account for those refunds in their bookkeeping. In contrast, using CourseStorm, your staff can issue refunds directly from our secure administration area, placing the funds in full right back on the registrant's credit or debit card without the need to include your accounting department.
Payouts
The Monday after the class begins, the funds for any registrations still in escrow will be released to your organization in a single deposit we make to your account. We call this a Payout. At the time a Payout is released to your account, anyone on your staff set to receive Payout notifications will receive an automatic email detailing the amount of the deposit and the registrations included in it. This information is also accessible from the secure administration area of CourseStorm and exportable to Excel for further processing.
Payouts will appear on your bank account statement with the name of your CourseStorm site. For example, payouts from happyvalleyed.coursestorm.com would appear as "CS: happyvalleyed".
To view and export your payout information at any time, click on More > Payouts from the Registration section of the admin menu.
How do I start taking registrations for paid classes?
To begin accepting registrations for paid classes, we need to first set up a direct deposit account for your organization. This ensures that when the payout date for a given class arrives, we know exactly where to deposit the money for those registrations.
To enable online registration for paid classes, all you need to do is click the green “Enable Online Registration” button that appears in the banner at the bottom of your Registrations, Students, and Payouts screens in your Admin Menu.
From here, you'll just follow the on-screen instructions to enable online registration and direct deposit.
Key pieces of info you'll need to fill out the direct deposit form:
Organization's legal name
Organization's EIN (tax ID)
Organization’s physical address
Financial contact's name, email, phone, birthdate, last four digits of social security number, and physical address
Bank account and routing numbers
Once you've submitted your application for direct deposit, we typically issue approvals within an hour or so after. Occasionally, we may find an error in your submission and ask you to correct it before the direct deposit will be enabled. In those cases, our staff are always there to make sure we get you up and running in no time!
For a walkthrough of the Payouts screen in the Admin Menu, check out this video:
