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Pay Day - 10/31/13 (Read 8966 times)
Mindy
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Pay Day - 10/31/13
Oct 1st, 2013, 5:10pm
 
The 3rd quarter payments are being processed reflecting commissions earned from 7/01/13 - 9/30/13.  Part of this process is reconciling those stores who have met the quarterly threshold.  The checks are scheduled to be in the mail or PayPal payments made by Thursday, 10/31/13.        
 
Please see the original Earnings Modifications announcement here:
http://www.greetingcarduniverse.com/forum/yabb2/YaBB.pl?num=1372702066
 
Important Notes regarding Earnings Modifications:
1.  3Q 2013 earnings threshold is $75  
2.  Stores earning over the Minimum Payment “pending” will reflect the STANDARD, pre-threshold earnings only  
3.  Premium earnings payments (stores meeting the threshold) will not be reflected until payment is made by 10/31/13
4.  Combined stores earnings will be used to calculate meeting the quarterly threshold – see below* request by 10/08/13
5.  Earnings from combined stores will be used to MEET the threshold however the earnings from an individual store with less than the set Minimum Payment will not be paid and will not be calculated as premium earnings
 
*COMBINED STORE EARNINGS REQUEST - BEFORE 10/08/13 - If you have more than one store that you would like to combine earnings to meet the quarterly threshold and have not yet communicated this to GCU please send an email to Support@ GreetingCardUniverse.com with Subject: Combine Store Earnings Request and include all your store id#s.
 
Here is an example on how combined store earnings will work:
1.  2 store fronts operated by the same artist
2.  Artist sends combine earnings request to GCU before 10/08/13
3.  Store 1 has $66 earnings and $25 minimum payment set
4.  Store 2 has $13 earnings and $25 minimum payment set
5.  Earnings used to meet threshold is combined $66 + $13 = $79 – threshold is met
6.  Store 1 standard earnings = $66 PLUS premium earnings = $66 SO total earnings = $132
7.  Store 2 standard earnings = $13 but 0 "pending" as minimum payment is $25.  These earnings will rollover to 4Q
8. Any earnings not payed and rolled over to the following quarter will * NOT * be combined to meet the next quarterly threshold  * 11/27/13 correction below  
 
Payments will be made to artists who are owed a minimum of $25 by the end of the pay period (9/30/13) or accordingly if you have changed your Minimum Payment to a greater amount.          
        
Please Note:  Your Earnings & Payments report may show a pending amount.  If you have had sales after 10/01/13 then the commissions are NOT part of the amount due for 3rd quarter payment.  You can see your STANDARD earnings due for 3rd quarter by adjusting your Earnings History date range to 7/01/13 - 9/30/13 (or earlier start date if you have yet to earn over your minimum):          
http://www.greetingcarduniverse.com/community/earning.asp            
      
Additionally, your current payment reflects your 3rd quarter earnings less any card purchases you have made using your earned fees prior to 10/01/13.          
        
FOR NEXT PAY PERIOD, you can change your Payment To name, Mailing Address, Minimum Payment, Payment Method (check or PayPal) as well as update your Tax ID #  or Social Security # in Account Information:            
https://www.greetingcarduniverse.com/community/reg.asp?mode=edit          
          
Please let us know if you have any questions and congratulations!
 
** IMPORTANT CORRECTION (11/27/13) **
Important Correction - Rollover Earnings & Threshold Measurement
ONLY earnings earned within the current quarter will be used to meet the current quarterly threshold.   Rollover earnings from prior quarter(s) will still get rolled over, as they are earnings due to you, however they will NOT be used to meet that current quarter’s earnings threshold to achieve premium  
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« Last Edit: Nov 27th, 2013, 3:55pm by Mindy »  
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Christi_179654
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Re: Pay Day - 10/31/13
Reply #1 - Oct 1st, 2013, 6:14pm
 
For next quarter, if I understand correctly, the minimum for premium payment is set to $300, so each artist must earn $150 standard to receive $300 premium.  Is this correct?
 
In your example above with the two stores:  if this artist earns $140 standard in store number 1 in Q4 (all new earnings since it paid out in Q3), and earns only $7 more so as to have $20 standard in store number 2 ($13 carryover from Q3), said artist will again meet threshold based on combined earnings, with store number 1 paying out $280 premium and store number 1 again under minimum payout so therefore carrying over again.  
 
I am assuming that in such a case the under-minimum standard earnings would continue to be used to calculate threshold, even though part of those earnings were already used to calculate threshold in the previous quarter.  Correct or no?
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Mary_140624
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Re: Pay Day - 10/31/13
Reply #2 - Oct 1st, 2013, 6:25pm
 
Thanks Mindy...still hang onto my $$$'s , as I still haven't got my USA tax file number. Have in desperation entrusted my Passport to the relevant authorities, after two efforts have failed to get their acceptance, so I wait for a positive result...Will let you know when I have it!
Thanks Mary.
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Steppeland_231500
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Re: Pay Day - 10/31/13
Reply #3 - Oct 1st, 2013, 9:19pm
 
Hi, Mindy,  
 
First thank you for working out this detailed earnings- and payment plan.  
 
I still have a question though
In your above example, since the totals of both shops will be combined to meet the threshold, would not the earnings of the second shop ($13) also be doubled with $13 premium earnings? If not, the owners of two shops are disadvantaged, and would do better putting all their cards over into one shop, since, if they would have them in one shop, the total sum of their earnings would be doubled.  
 
Not that it makes any difference to me at this point, but I was considering opening a second (special niche) shop in the course of next year - if it shows that my cards sale would pick up sufficiently.  
Wouldn't even contemplate doing that with these given earnings calculations Wink  
 
Thanks for clarifying
 
Steppeland
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http://www.greetingcarduniverse.com/steppeland
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Betsy_179799
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Re: Pay Day - 10/31/13
Reply #4 - Oct 2nd, 2013, 3:22am
 
I am just wondering why this announcement wasn't made or at least hinted at when I raised this question 13 days ago in this thread.... undecided undecided
 
http://www.greetingcarduniverse.com/forum/yabb2/YaBB.pl?num=1379597523
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Mindy
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Re: Pay Day - 10/31/13
Reply #5 - Oct 2nd, 2013, 12:22pm
 
Quote from Betsy_179799 on Oct 2nd, 2013, 3:22am:
I am just wondering why this announcement wasn't made or at least hinted at when I raised this question 13 days ago in this thread.... undecided undecided

http://www.greetingcarduniverse.com/forum/yabb2/YaBB.pl?num=1379597523

 
Sorry, your thread was overlooked.  Clearly your questions were right on the mark.  Please let us know if this new thread leaves any of your questions unanswered.
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Mindy
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Re: Pay Day - 10/31/13
Reply #6 - Oct 2nd, 2013, 12:46pm
 
Quote from Steppeland_231500 on Oct 1st, 2013, 9:19pm:
Hi, Mindy,

First thank you for working out this detailed earnings- and payment plan.  

I still have a question though
In your above example, since the totals of both shops will be combined to meet the threshold, would not the earnings of the second shop ($13) also be doubled with $13 premium earnings? If not, the owners of two shops are disadvantaged, and would do better putting all their cards over into one shop, since, if they would have them in one shop, the total sum of their earnings would be doubled.

Not that it makes any difference to me at this point, but I was considering opening a second (special niche) shop in the course of next year - if it shows that my cards sale would pick up sufficiently.
Wouldn't even contemplate doing that with these given earnings calculations Wink

Thanks for clarifying

Steppeland

 
To keep things simple and straightforward 1 store is the easiest way to go.   However we have made these accommodations for artists with more than one store that we feel are fair and actually work in their favor.
 
I've updated the original post to include the following:
8. Any earnings not payed and rolled over to the following quarter will AGAIN be combined to meet the next quarterly threshold
 
So although for the current pay period it's a disadvantage for the artist to not earn their premium earnings on the store with less than the minimum payout there is an upside.  The standard earnings that are rolled over to the following quarter will again be used (combined) to meet the next quarterly threshold.    
 
We feel this gives the artist an advantage since most minimum payments are set at $25.  So the rolled over earnings would be relatively small ($24 on the high side).  This could be the difference of meeting the threshold or not in the NEXT quarter which has much more upside.
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Mindy
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Re: Pay Day - 10/31/13
Reply #7 - Oct 2nd, 2013, 1:05pm
 
Quote from Christi_179654 on Oct 1st, 2013, 6:14pm:
For next quarter, if I understand correctly, the minimum for premium payment is set to $300, so each artist must earn $150 standard to receive $300 premium.  Is this correct?

In your example above with the two stores:  if this artist earns $140 standard in store number 1 in Q4 (all new earnings since it paid out in Q3), and earns only $7 more so as to have $20 standard in store number 2 ($13 carryover from Q3), said artist will again meet threshold based on combined earnings, with store number 1 paying out $280 premium and store number 1 again under minimum payout so therefore carrying over again.

I am assuming that in such a case the under-minimum standard earnings would continue to be used to calculate threshold, even though part of those earnings were already used to calculate threshold in the previous quarter.  Correct or no?

 
Yes, please see my updated #8 above re: the rolled over earnings being used to measure against the next quarter's threshold.
 
Important correction for 4Q2013:  the quarterly threshold is $300 in standard earnings
 
I've updated your example below for Q42013:
Store 1 earns $140 standard (all new earnings since it paid out in Q3)
Store 2 earns only $7 more so as to have $20 standard ($13 carryover from Q3)
Artist will NOT meet threshold of $300 based on combined earnings of $160  
Store 1 paying out = $140 standard
Store 2 again under minimum payout so therefore again rolling over $20 standard earnings
 
Let me know if you have any questions.
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Betsy_145102
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Re: Pay Day - 10/31/13
Reply #8 - Oct 2nd, 2013, 2:11pm
 
Mindy, thank you. You mention 1 store is the way to go and now I definitely feel that way. However, I have over 600 cards in one store and 500 in the other. I am sure I already know the answer to this but I will ask anyway, Is there a way to move all cards from one store to the other without having to resubmit them? Hey I can dream can't I?!!LOL Grin Grin
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Mindy_artist
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Re: Pay Day - 10/31/13
Reply #9 - Oct 2nd, 2013, 2:52pm
 
Quote from Betsy_145102 on Oct 2nd, 2013, 2:11pm:
Mindy, thank you. You mention 1 store is the way to go and now I definitely feel that way. However, I have over 600 cards in one store and 500 in the other. I am sure I already know the answer to this but I will ask anyway, Is there a way to move all cards from one store to the other without having to resubmit them? Hey I can dream can't I?!!LOL Grin Grin

 
Sorry Betsy, there is not a way to do this at this time.   cry  I think financially you will come out whole with the two stores it will just be a little cumbersome in the managing and reconciling.  At some point (in the distant future) we hope to make it much easier for artists' with multiple stores.
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Christi_179654
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Re: Pay Day - 10/31/13
Reply #10 - Oct 2nd, 2013, 3:03pm
 
"Important correction for 4Q2013:  the quarterly threshold is $300 in standard earnings"
 
 
Thank you, Mindy.  I was really missing the boat on that one, wasn't I?
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Betsy_145102
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Re: Pay Day - 10/31/13
Reply #11 - Oct 2nd, 2013, 3:50pm
 
Thanks again Mindy! Smiley Smiley
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Steppeland_231500
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Re: Pay Day - 10/31/13
Reply #12 - Oct 3rd, 2013, 5:06am
 
Quote from Mindy on Oct 2nd, 2013, 12:46pm:

To keep things simple and straightforward 1 store is the easiest way to go.   However we have made these accommodations for artists with more than one store that we feel are fair and actually work in their favor.

I've updated the original post to include the following:
8. Any earnings not payed and rolled over to the following quarter will AGAIN be combined to meet the next quarterly threshold

So although for the current pay period it's a disadvantage for the artist to not earn their premium earnings on the store with less than the minimum payout there is an upside.  The standard earnings that are rolled over to the following quarter will again be used (combined) to meet the next quarterly threshold.  

We feel this gives the artist an advantage since most minimum payments are set at $25.  So the rolled over earnings would be relatively small ($24 on the high side).  This could be the difference of meeting the threshold or not in the NEXT quarter which has much more upside.

 
Well, this makes sense and sounds reasonable to me, Mindy - in that way 2-stores-owners will receive their premium earnings for the amount rolled over in the next quarter - provided that they then again reach the threshold in their combined stores.  
 
Then I wonder: Will this added point
"8. Any earnings not payed and rolled over to the following quarter will AGAIN be combined to meet the next quarterly threshold" also be applicable for single store holders who didn't reach the minimum payment amount of $ 25 in the previous quarter(s) ?  
 
Or, if I may make it more concrete for my own situation.
Since I opened my store in May 2013, I earned a total of $ 6.36, divided as follows:  
Q2 of 2013 $ 4.20
Q3 of 2013 $ 2.16
 
In an order I made on Aug. 26 I applied earned commissions for payment of my order ($3.16) - So the remaining total of not payed earnings is  $3.20 , although my Store Report still shows $6.36 as Commissions Earned on today Oct. 3, 2013.  
 
Will this total of $6.36 rolled over from Q2 and Q3 be added to the earnings of Q4 to see whether or not I reach the threshold of Q4?  
 
I realise it's still very unlikely that I would reach such a giant jump during this 4th quarter - but well, I just would like to understand the details of the payments plan. Smiley  
 
Thank you!  
 
Steppeland
 
 
 
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Steppeland - Photography and Card Design/Fotografie en Kaart Ontwerp.:
http://www.greetingcarduniverse.com/steppeland
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Maria_133363
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Re: Pay Day - 10/31/13
Reply #13 - Oct 9th, 2013, 11:19am
 
Mindy ...
 
So ... the earnings I see pending for 3rdQ is what I get?  
 
I have made the required amount for 3rdQ so is this what Paypal amount to be received in a week or two?
 
Still confused on what is what here.
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Doreen_137017
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Re: Pay Day - 10/31/13
Reply #14 - Oct 9th, 2013, 11:55am
 
Quote from Maria_133363 on Oct 9th, 2013, 11:19am:
Mindy ...

So ... the earnings I see pending for 3rdQ is what I get?

I have made the required amount for 3rdQ so is this what Paypal amount to be received in a week or two?

Still confused on what is what here.

 
I think your question is answered in Mindy's original post.
 
Important Notes regarding Earnings Modifications:
1.  3Q 2013 earnings threshold is $75  
2.  Stores earning over the Minimum Payment “pending” will reflect the STANDARD, pre-threshold earnings only  
3.  Premium earnings payments (stores meeting the threshold) will not be reflected until payment is made by 10/31/13
4.  Combined stores earnings will be used to calculate meeting the quarterly threshold – see below* request by 10/08/13
5.  Earnings from combined stores will be used to MEET the threshold however the earnings from an individual store with less than the set Minimum Payment will not be paid and will not be calculated as premium earnings
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