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Pattern Uploads: Financial Information
Crochetville uses Paypal to process all pattern payments. Customers may choose to pay with a Paypal account using any payment methods accepted by Paypal or without a Paypal account via credit card (American Express, Discover, MasterCard, Visa).
When you choose to sell your patterns on Crochetville, it is considered a business-to-business arrangement.
A pattern sale is a transaction between Crochetville and the customer. As such, Crochetville bears the liability for collecting and remitting any VAT in situations in which we are legally deemed liable for doing so.
Effective 1/7/2015, our rates have been adjusted to reflect the current Paypal transaction fees we are incurring per transaction.
Paypal fee: 2.9% of sales price plus $0.30 transaction fee
Crochetville commission: 10%
Designer receives: 87.1% less the $0.30 transaction fee
Example: $5.00 pattern
Paypal fee: $0.45 ($0.15 plus $0.30)
Crochetville commission: $0.50
Designer receives: $4.05 ($5.00 - $0.45 - $0.50)
Viewing Your Credit Balance
The Account Credit section of your Client Area (accessible by clicking the white arrow by your name in the black bar at the top of any site page) will show you the current balance in your account.
Payment Processing Through Paypal
Crochetville will submit all designer payments through Paypal. You must include a valid Paypal email address with your payout request. We will submit the payment to you as a personal payment owed so that you do not incur any further Paypal fees.
Crochetville will issue payments when your credit balance reaches a minimum of $30.00.
Because of the way our software works, you will need to initiate the payout request through your Client Area.
Note: The $30.00 minimum may be adjusted up or down as necessary to enable us to process payments within our time constraints.
We will process payout requests on the 1st through the 7th of each month.
Reporting Income to the IRS
If you sell over $600 in one year, we will issue a form 1099-MISC to the IRS on your behalf. When your sales volume reaches $500, we will contact you for the information we need to issue the form 1099-MISC. If the information is not returned to us, we will put a temporary hold on your sales until we receive the information, to prevent your sales going over the $600 level.
Should you wish to close your Crochetville account and your credit balance is less than $50, please Contact Us. We will be happy to issue your payout before we close your account.
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