Money Management

Tutor LMS is a multi-instructor based eLearning solution. This means that an individual/professional can run an educational platform on their own or multiple professionals can collaborate to run an educational institute. 

When multiple entities are involved, it raises the question of things like Earnings, Money Management, Commission Allocation, etc. Hence, the purpose of this documentation is to help you understand how to implement these things using Tutor LMS.

Enable Monetization

Tutor LMS Money Management - Select eCommerce Engine

To enable Monetization for your eLearning site, head over to WP Admin > Tutor LMS > Settings > Monetization and select your preferred eCommerce Engine option from the drop-down list.

Note: These options will only be available if you have any of the supported eCommerce Engines installed and activated.

Listed below are the eCommerce Engines supported by Tutor LMS:

  1. WooCommerce
  2. Easy Digital Download
  3. Paid Memberships Pro
  4. WooCommerce Subscription
  5. Restrict Content Pro

Once Monetization has been enabled, you’ll have to set up your eCommerce plugin to be all set to start selling your courses and earning revenue. This process is different for each one so check out our dedicated eCommerce Documentation for more details.

Commission Allocation

Now, you need to understand how Tutor LMS manages your Earnings and how the Commission Allocation works. 

When multiple instructors sell their courses all of the revenue goes to the single bank account set up by the admin in the eCommerce Engine. Hence, the question might arise as to how you can determine who receives how much.

This division is made easy with Tutor LMS. Simply head over to WP Admin > Tutor LMS > Settings > Monetization.

Tutor LMS Money Management - Enable Revenue Sharing and set Sharing Percentage

From here, enable the Revenue Sharing option and then define the Sharing Percentage which is the ratio by which the revenue will be shared amongst instructors and admins. For example, you can allot 80% of revenue to the instructors and the other 20% to the admin.

Tutor LMS Money Management - Deduct Fees

Next up, you can enable the Deduct Fees option in case you need to subtract an amount from your site’s earnings for running costs and such. 

To be fully transparent with your customers, give a reasonable explanation under the​​ Fee Description field. Lastly, under the Fee Amount & Type section, select whether this will be a fixed amount or a percentage from the drop-down list, and then set the exact number in the following text field.

Instructor’s Withdraw Preferences

Tutor LMS Money Management - Select Withdraw Method

Before you can make a Withdrawal, you first have to set up your Withdrawal Preferences. To do this head over to Frontend Dashboard > Settings > Withdraw, select your preferred method, and then submit any required information.

Below is a list of the available Withdrawal Methods and a brief description of the information required.

  • Bank Transfer: Enter your Account Name, Account Number, Bank Name, IBAN, and the BIC/SWIFT code.
  • E-Check: Enter your Physical Address.
  • PayPal: Enter the Email Address that is connected to your PayPal account.

Finally, don’t forget to click on Save Withdrawal Account to save your changes before exiting.

Tutor LMS Money Management - Enable Withdraw Method

Note that, these options will only be visible if the admin has enabled them from WP Admin > Tutor LMS > Settings > Monetization > Withdraw. To know more about Withdraw Settings check out this documentation.

Understanding Withdrawal & Wallet

Tutor LMS Money Management - Withdrawal

Once you’re all set up for Withdrawals, go to the Frontend Dashboard > Withdrawals. From here, you can withdraw any amount from your Current Balance but only if you have a balance equal to or greater than the Minimum Withdrawal Amount.

Admins can set this amount from WP Admin > Tutor LMS > Settings > Monetization.

Tutor LMS Money Management - Make a Withdrawal

To make a withdrawal, click on the Withdrawal Request button. A new pop-up window should appear where you can set the amount you want to withdraw. Click on Submit Request and you should see a pending request appear under the Withdraw History heading.

Next, admins will approve or reject this request from WP Admin > Tutor LMS > Withdraw Requests. Instructors can visit the Withdrawals section to see the status of their requests. Once approved, the Current Balance will automatically deduct the requested amount.

Instructor Earnings

To see a detailed report of your Earnings go to the Frontend Dashboard > Analytics > Earnings. The Earnings tab showcases the Total Earnings, Current Balance, Total Sales (which includes admin commission and fees), and more. 

The important thing to note here is that the Current Balance is the amount after all fees and commissions have been deducted.

Keep in mind that the Analytics section will only be visible if the Reports feature is enabled from the Tutor LMS Pro Add-ons page. For more information refer to our documentation on the Reports Add-on.

 

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