Tyro Health Online settlements
A bank account(s) must be nominated to process the settlement of funds managed by Tyro Health Online and there are two options which can be managed from Tyro Health Online:
TO A SINGLE ACCOUNT: settlement of funds for all relevant transactions will be paid to one nominated bank account.
SEPERATE ACCOUNT PER LOCATION: settlement of funds for relevant transactions processed at a specified location will be paid to the nominated bank account for that location.
To add or edit settlement details, you'll need to be a Business Administrator.
How to manage settlement and nominated bank accounts
To set up or edit your settlement arrangement and/or nominated bank account(s):
Navigate to the 'BUSINESS SETTINGS' page from the sidebar.
Select the 'SETTLEMENT' tab, then click the 'EDIT' button.
Choose or change the settlement arrangement for your business.
Any changes to a nominated bank account will take effect immediately. Transactions processed from this point forward will be settled according to the updated details. Transactions processed before the change, during the current settlement period, will be paid into the previously saved nominated bank account.
To a single account
Enter one nominated bank account that will be used for all funds settled by Tyro Health Online - regardless of which location or provider processed the relevant transaction.
Separate account per location
Enter a default nominated bank account and additional bank accounts per location, as required. You can set specific locations to use the default settlement bank account details or nominate specific settlement details for any given location(s).
Separate account per staff member override
This arrangement will settle funds to a nominated bank account for a specific staff member, so that all transactions processed by/for them are paid into a seperate bank account, regardless of the location - this overrides the previous two settlement arrangement options for the specific staff member(s).
Setting up separate settlement arrangements per staff member in Tyro Health Online is not currently supported. However, if you'd like to set this up, please contact us.
For example, a business as two locations with multiple providers working at each location and has set up settlement to a seperate account per location. However, one provider works from both locations and also sets up an override for their staff profile in Tyro Health Online. For the other providers, the funds for their transactions are paid into the nominated bank account set up per location. Meanwhile, any transactions processed for the "override" staff member - at either location - will instead be settled into their nominated banks account.
If you have any questions, click on the pink chat bubble on our website or email our Customer Support team.