2 | Financial Procedures Guide

2 | Financial Procedures Guide

Financial Configuration & Terminology

There are a number of settings that are applied organisation wide and that should be controlled by the organisations financial administrator as follows:

Time Zone
It is important that you confirm your organisations time zone is correct to avoid reporting issues. This can often occur after the clocks are adjusted for daylight savings time. By default, your organisations time zone will be pre-configured. If you need to make a change you can do so by submitting a support case or emailing help@flowte.com

All tax rates in Flowte are added by your system administrator when adding new events or items Flowte can manage two different kinds of taxes:
Outside Tax | This is a tax which is applied “on top” of the ticket price e.g. sales tax in the USA.
Inside Tax | This is tax which is applied “inside” the ticket price e.g. VAT in the UK.

Understanding Extra Charges:
Your system administrator can add extra charges when configuring an event or product. Extra Charges are fees which are charged on top of the item price.  For example this could be a booking fee, delivery fee or service charge

Extra Charges can be charged on a per item basis. Extra charges can be varied by Sales Channel (internet or back office) or by item type. All financial reports can be configured to either include or exclude extra charges.

Reporting Terminology
Sales date range | This option refers to a date range which shows you all transactions which were processed during that date range only
Event date range | This option refers to a date range which shows you all transactions for events which take place during that date range, regardless of when the transactions were actually processed.
Event Times | An event may have one or multiple times e.g. a multi day festival
Back Office | Transactions processed via the Flowte Back Office Interface
Internet |Transactions processed via the Internet sales channel

Reconciling Flowte Payments & Invoices

Payment & Invoice Reconciliation

Flowte clients receive an invoice / statement once every month.
This invoice will be sent to you by email before 16:00 BST on the first Monday of the month
The invoice will be sent by Flowte’s accounts department. Any queries related to invoices should be sent to info@flowte.com
Your monthly invoice details all sales for the previous month also known as the "Sales Date Range"
The "Sales Date Range" runs from 00:01 hrs on the first day of the previous month to 24:00hrs on
last calendar day of the previous month
To reconcile the invoice we recommend you log in to Flowte & go to analytics > billing report 
Enter the same sales date range as is detailed on your monthly invoice > Select "include refunds" This will give you a report
detailing all the revenue processed and the method of payment used. 

Invoice details and terminology:
Number of tickets sold
Gross Revenue amount by debit / credit card
Total charges from Flowte
Total amount to be transferred to client after Flowte charges deducted
(This amount is remitted by electronic transfer directly to the clients specified bank account.)
Transfers to clients are made seven business days after the last calendar day of each month

Monthly Finance Checklist
Checklist                                                                                                                     Complete
Have you received your monthly invoice from Flowte?                                         YES / NO
Have you run your reconciliation report?                                                                YES / NO
Did the report and the invoice numbers reconcile correctly?                               YES / NO
Have this month’s funds been deposited to your bank account?                         YES / NO
Did the amount deposited match that on your invoice?                                        YES / NO
Have you journaled this month’s revenue to your accounts                                 YES / NO

How to cash up / reconcile point of sale

1.  In Flowte click on the Detail Report
2.  In the user drop down select the name of the user you wish to reconcile
3. In payment date drop down insert today’s date
4. Click Update
5. You should now print a copy of the report
6. Count the cash in your cash drawer and write the amount onto the printout
7. The cash and printout should then be presented to management and countersigned
8. The cash & signed printout should then be deposited for secure collection

Reconciling Card Readers

The Reconciliation module is a tool designed to help you to reconcile the Flowte system with the transactions on your Chip and pin devices. 

Step 1: Reconciling your chip and pin terminals.
To view batch history
• Select OTHER, then select REPORTS MENU
• Select DETAIL or DISPLAY then select PRINT or DISPLAY
• If prompted, select sort method: REFERENCE #, INVOICE #, or CARD TYPE • The selected information will display
• Press CANCEL to return to the Reports Menu

To view batch totals 
• Press the ADMIN key
• Enter password and press ENTER
• The selected information will display
• Press ENTER to return to the Batch Menu 

Step 2: Reconciling your Flowte account
Navigate to Analytics > Detail 

Use the filters to choose your date range 

Use the status filter to select whether you want "all' "complete" or "refunded" transaction. 

Using the payment filter, select Card Reader 

The report will appear showing your ticket quantity and total sales. 

Step 3: Reconcile Both 
Make sure the total figures from the chip and pin devices matches that of the Flowte Detail report.  

COVID 19 Refund Procedures

Protocol Guidelines

With regard to measures and guidelines instructed in relation to the COVID-19 pandemic, there
are currently two options available with regard to the resultant management of events as follows:

Event postponement or Rescheduled Dates:
This involves postponement of an event to a later date. This process has been specially designed
to make the process as simple as possible. The whole process can be managed in just a few clicks.
In order to effectuate same, simply amend the dates for the affected events to the newly appointed
dates and all tickets and barcodes will remain valid for the new date(s). Tickets can simply be
validated for the postponed date. For more information on this process, feel free to contact our
support team via the support portal as normal and our analysts will be more than happy to assist.
Event cancellation and refunds:
Flowte will be operating a temporary contingency protocol for the issuance of refunds and event
cancellations. Flowte will temporarily suspend the normal refunds process and request that all
refunds be submitted through us for approval until further notice. The contingency protocol
comprises of the following steps:

1. Please contact finance@flowte.com and state the following details:
 Organisation name
 Your name and position within your respective organisation
 Details of card refund request including event name(s) and total monetary amount of
refunds to be processed

Ticketlord Limited trading as Flowte
Flowte, 308 Q House, Furze Road, Dublin, Ireland | www.flowte.com
Registered in Dublin, Ireland | 5HJLVWUDWLRQ NR. 373608 DLUHFWRU: HXJK O¶MRUain
2. In order for your refund request to be approved, the total refund amount must be credited
to the relevant bank account below:

EURO Clients
Account Name: Ticketlord Limited
IBAN: IE97BOFI90001715910330
Account NSC: 900017
Account number: 15910330

GBP Clients
Account name: Ticketlord Limited
IBAN: GB73BOFI90233889442859
Account NSC: 902338
Account number: 89442859
3. Once funds settle into the account, Flowte will then issue the requested card refunds on
your behalf. We will then contact you to confirm once this has been done and talk you
through the next steps with regards to updating reporting within the system.

Please note that due to the large volumes of refunds resulting from the COVID-19 measures,
payment processors have advised that there may be a longer than usual period for customers to
receive credits back to their account. As such, we suggest advising your customers that it may
take 15 working days to see the refund on their account.

We thank you for your patience and co-operation as we work together to manage this situation.

Billing Report

This report gives you a breakdown of your transactions over a period of time broken down by methods of payment.  
Navigate to Analytics >  Billing 

1. Select your transaction date. You can choose pre set time filters or use a custom date filter to generate the report you need.  
2. Choose your source either back office or online. 
3. Decide whether or not you want to include refunds. 
4. Click the update button and your report will appear. 


Column Visibility  
Decide the columns of data you want visible in your report.  

Export The report to CSV, PDF and Excel. You also have the option to print the report. 

Revenue Recognition Policy:

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. 
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

With Flowte - the revenue is recognised at the point at which the sales invoice is raised for the services supplied.

Annual Minimums & Termination Fees:

Annual minimum / Termination Fee calculations are based on Appendix A of Flowte's terms of service. The details of Appendix A are set out below but can also be viewed publically here: https://flowtesport.com/terms-of-service/
Appendix A | Fee Schedule & Contract Term

This Agreement is between the organisation defined on the client’s order form (hereinafter referred to as “COMPANY”), and TicketLord Limited T/A Flowte with its principal place of business in Dublin, Ireland (hereinafter referred to as “FLOWTE”). In consideration of the rights and obligations herein set forth, the parties do hereby agree as follows:


1 Annual Sales Item Volume / Annual Minimum: As defined on order sheet

2 Per Item Fee:  As defined on order sheet

3 Flowte Payments Rate: As defined on order sheet


4 Currency: All Fees outlined in this appendix are in client’s base currency per order sheet


5 Term of Agreement: This agreement shall commence and renew on the dates defined in the order sheet. Should client log in to Flowte within sixty days of its renewal date or process orders for events or services due to take place after the contract renewal date the contract will be automatically renewed for an additional term of the same duration and subject to the same terms.


6 Confidentiality: All aspects of this contract are strictly confidential to both parties.


7 Terms of Service: All aspects of this contract are subject to Flowte’s terms of service


8 Additional Services and Professional Services: Pricing for these offerings are defined in the client’s order sheet or amendment sheet. Any modification to the additional services required will result in an extension in the contract term


9 Venues & Locations: This agreement shall reflect venues and locations configured in the clients’ Flowte organisation at the date at which the contract was entered into or was renewed as applicable. Any change of venue(s) or location(s) will require a contract amendment.


9 Payment Terms

9.1 All fees defined in this Appendix are due per the terms of service

9.2 For clients using the pre-pay model, should the number of items processed using Flowte exceed the pre-pay “annual sales item volume" in any twelve-month period within the contract term the client will have the option to prepay for additional items. Should the volume of items fall below the “annual sales item volume" the shortfall will be considered to have expired and under no circumstances will these items be carried forward into any future year or a refund be issued to the client.

For clients using the post pay model, should a shortfall arise in items processed as compared with the defined “annual sales item volume" the client must pay the difference between the number of items processed and the “annual sales item volume" defined above multiplied by the per item fee / percentage fee as applicable per their contractual fee type.

Flowte reserves the right to collect the full amount of any fees which would have fallen due from use of Flowte Payments. This amount shall be defined as the “annual sales item volume" multiplied by the client's average item price and multiplied by the Flowte Payments Fee.

Should client cease using the Flowte service during the contract term or engage with an alternative provider whilst still under contract with Flowte, Flowte will issue a breakage invoice to  collect all fees which would have fallen due during the remaining contract term including but not limited to the below:

§  The minimum annual sales volume as defined in the client’s contract or the average annual minimum volume processed based on the previous sales data in the Flowte system, (the higher volume of these two will be applied)  multiplied by the time period remaining on the contract multiplied by either the per item/per ticket fee or the percentage fee as defined in the client’s contract

§  The minimum annual sales volume multiplied by the time period remaining on the contract multiplied by the average ticket price multiplied by the card processing rate

§  All hardware fees and outstanding debts.

Failure to pay these fees may result in closure of clients account without notice.

9.3 Use of Flowte Payments is also subject to Flowte Payments Terms of service.

9.4 Flowte reserve the right to be the exclusive provider of ticket sales and e-commerce software to the client. Use of Flowte Payments is also provided on an exclusive basis. If there is any breach of this clause Flowte reserve the right to recover any amounts owing under the terms of this agreement from any new or alternative provider and cojoin them in any legal action necessary to recover the amount outstanding