Easily withdraw money from your Polar account at any time
You can issue a withdrawal, i.e payout, at any time once there is at least $10 on your balance. We will then transfer the balance minus Stripe payout fees (see below) to your Stripe account & issue a payout on their side.
We require this to be done manually since:
Given the fixed costs, we want to default to manual payouts so you can control when you want to incur them and do it once vs. per each individual transaction in order to reduce the overall fees.
Since we’re the Merchant of Record, your customers get an invoice from Polar. Thus, for your accounting, you need to issue an invoice to Polar for the amount we paid out to you. To ease this process, we can automatically generate a reverse invoice for you, detailing the sells we made on your behalf, minus our fees.
You can generate them from the Payouts page under Finance in your Polar dashboard. Click on the ellipsis next to the payout you want to generate a reverse invoice for, and select Download invoice.
A modal will open, allowing you to:
POLAR-0001
, but you can change it to your own format and sequence.Once the reverse invoice is generated, it cannot be changed. Make sure to double-check the information before generating it.