Understanding your Invoice

In this article we will explain the essential components of your invoice, explaining what each field and detail means. Skip ahead to read more on specific areas of the invoice:

• Table 1: Event sales overview
• Table 2: VAT overview of your sales
• Table 3: Refunds
• Table 4: TicketCo fee stipulation
• Table 5: VAT overview for the TicketCo Fee
• Table 6: Pay out stipulation from your sales

Invoices are generated to give you an invoice for the TicketCo fees you have accumulated. In addition the invoices will detail the payout out of funds.

When are invoices generated?

Every time TicketCo pays out funds to you, an invoice will be automatically generated. Your billing contact will receive the email automatically. You can find more information on how to set up automatic invoices here. 

Note: If the amounts on the invoice are negative this means that funds are owed to TicketCo and should be paid out as per the terms of the invoice. 

Below is an example and a breakdown of a typical invoice...

The top section of your invoice includes important information to identify the transaction. This shows your organisation's name, address, contact details and bank details. It also shows TicketCo's address, contact details and the bank details that you will receive payments from. The invoice date and invoice number is also listed under the contact details. This long invoice number itself consists of your organiser ID, the date and the invoice number.

''The invoice contains an overview of collected payment orders from [date/time] to [date/time]" means that the invoice summarises all the payment transactions that were received between those specific dates and times. 

Table 1: Event Sales Overview and Total Gross Sales

This section provides a comprehensive summary of your event’s sales performance, including the following details:

• Event Date and Name: The name and date of the event
• Event Total Sales: This is the total revenue generated for that specific event
• Total TicketCo Ltd fee: This represents the total fee that is owed to TicketCo for sales for this event.
• Online sales, mobile sales, cash sales and invoice sales are all broken down into sections. Sales for the event are categorised into different sales channels, such as mobile, online and cash sales. This segmentation helps in tracking and managing revenue from each channel separately. Cash sales, which are collected at your ticket office, are deducted from the total fee owed to you at the bottom of the invoice. This ensures that the amount already collected in cash is accounted for separately, reflecting an accurate financial summary.
• Net amount: This is the amount you will receive after all deductions have been made

Table 2: VAT Overview of Your Sales

This section offers a detailed breakdown of the VAT associated with your sales. This is the VAT that you assign to your tickets when setting them up under the Ticket types page.

For example, your ticket is £20 and you have added a normal rate of VAT at 20%, your VAT will be £3.33 and will be included in the ticket end price as indicated below:

• VAT Total sales: The total amount of VAT collected from all sales transactions for this event
• Net sales: This is the gross sales minus the VAT
• VAT amount on sales: The portion of VAT collected for tax

Table 3: Refunds 

This section displays any refunds issued to ticket buyers. It includes details such as the unit price, ticket type, the amount of tickets refunded, total sales, net amount refunded, VAT and VAT amount refunded. For example, if a customer purchases a ticket and later requests a refund, the amount returned to them will be recorded here.

Free online tickets and cash refunds can be refunded by you, the organiser, however any ticket that is paid for online with a standard payment card can only be refunded by TicketCo. Please be aware you will still be charged the TicketCo fee for the original sale on any refunds issued. Events which are cancelled may have tickets exchanged for waivers and vouchers, so please see this article for more information.

Table 4: Fee Stipulation for Each Ticket Type

In this section, you’ll find information about the fees charged for each type of ticket by TicketCo. These fees are outlined clearly, helping you breakdown the number of tickets sold, unit price and % of fee as well as the VAT on the TicketCo provision.

The TicketCo fee will automatically be applied to your tickets when you set up a ticket type, this is exclusive of VAT:

You can find a breakdown of your price plan in the Price Plan tab in your account. Click here for more information on your price plan. 

• Ticket Types and Fees: A detailed list of each ticket type sold, number of tickets sold and the corresponding fee charged by TicketCo based on your price plan.

Table 5: VAT Overview of TicketCo Fees

• Total VAT on Fees: This breaks down the total amount of VAT charged on the TicketCo fees.

This section details the VAT applicable to your fees charged by TicketCo. (This is different to VAT on your sales explained in Table 2).

It's important for you to distinguish between the VAT that you collect on your ticket sales, and the VAT that is included as part of the TicketCo fee. 

Table 6: Pay out Stipulation From Your Sales

This shows your total payout for the event (this includes your total sales minus the TicketCo fees inc. VAT, and cash sales).

In addition to TicketCo fees, other amounts such as cash sales are subtracted from the total settlement. For example, any cash sales collected at the event will be deducted from the final payout, as these amounts have already been received by you. This ensures that the settlement accurately reflects the remaining balance due.

The final settlement amount should match what is displayed in your bank account when the payment comes through.
Do note that if the amount is negative it’s funds you have to return to TicketCo and it will not show up in your account.

If you have any questions or concerns regarding the invoice or the settlement details, please contact TicketCo’s support team at support@ticketco.net for assistance. They can provide clarifications and help resolve any queries you may have.