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Settlements

How to record, share, and finalize settlements with artists and agents.

Antonio Sierra avatar
Written by Antonio Sierra
Updated over 2 weeks ago

Recording a Settlement

To mark a booking as paid or settled:

1. Record a Payment:
First, ensure you've recorded the payment on the booking via Payment > Record Payment. This captures the amount collected from the buyer or payer.

2. Go to Payment > Settlement > Record Settlement:
The system will suggest an amount based on what has been collected and available. You can adjust this amount to match the actual payment received.

3. Enter Payment Details:

  • Select the payment method (e.g., bank transfer, check, cash).

  • Attach supporting documents or receipts if available.

  • Add reference codes or comments for clarity.

Handling External Payments

If you receive a payment outside of Gigwell (e.g., cash, check, wire transfer):

  • Input the exact amount received in the Record Settlement window.

  • Select the appropriate payment method.

  • Attach any receipts or reference codes.

This process ensures all payments are accurately reflected in your settlement reports.

Generating and Customizing Settlement Reports

To manage your settlements effectively:

  1. Navigate to Reports > Settlements:

    • Filter bookings by artist, date range, or status.

    • Use the filter icon to customize your view.

  2. Customize Columns:

    • Add or remove columns such as artist, city, or payment details for better clarity.

  3. Share Reports:

    • Send reports for management approval before payment.

    • Share confirmation after payment is settled.

  4. Export Data:

    • Download reports as CSV or PDF for record-keeping or external reconciliation.

Finalizing a Settlement

Once all payments are recorded and verified:

  • Mark the settlement as "Complete" by toggling the checkbox.

  • This action moves the booking out of the Settlements stage and updates the booking status to "Complete."

Best Practices & Tips

  • Avoid Duplicate Invoices:
    Ensure you delete or adjust duplicate settlements to prevent overpayment.

  • Check Filters Carefully:
    Use booking status filters like "settlement" to include only relevant bookings.

  • Maintain Clear Records:
    Attach receipts and reference codes for transparency and future audits.

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