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Financial Audit & Payout Operations

The Financial Reconciliation Hub provides UniTix Administration with absolute oversight over the platform’s financial ledger. Every ticket sale, cancellation deduction, and wire payout request flows through immutable transaction records to ensure total financial transparency and accuracy.

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1. Auditing & Processing Society Payouts

When an event successfully concludes, the organizing society submits a withdrawal request for their Available Balance (PKR) from their wallet.

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Step-by-Step Reconciliation & Wire Execution:

  1. Ledger Audit: Accounting officers review the comprehensive event reconciliation summary, verifying:
    • Total Gross Ticket Revenue collected across all tiers.
    • Standard processing fee or custom institutional tier deductions (2.5% or negotiated rate).
    • Total approved refunds processed back to students.
    • Final net take-home earnings (Net Revenue).
  2. Banking Verification: Officers re-verify the society’s registered International Bank Account Number (IBAN) and Account Title against KYC compliance records.
  3. Electronic Wire Execution (IBFT / EFT): Funds are transferred directly from the platform’s corporate settlement accounts to the society’s registered bank account via secure Inter-Bank Fund Transfer (IBFT).
  4. Receipt Inscription: Upon successful wire completion, the official Bank Transaction Reference Number (EFT Reference ID) is logged directly into the society’s permanent payout history, marking the cycle as completed.

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2. Bulk Refund & Event Postponement Reconciliation

In the event that an organizing society postpones or cancels an event, or when significant cancellation requests occur within eligible time windows, UniTix Administration coordinates bulk financial reversals:
  • Batch Processing: Approved student refunds are processed back to the original payment methods (JazzCash, EasyPaisa, or direct bank credit) across structured batches.
  • Ledger Balancing: The ticket records transition cleanly to refunded status, ensuring that both the student wallet history and the society accounting ledger balance to exact zero without discrepancy.

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3. University Directory & Campus Mapping

To ensure structured onboarding across diverse academic institutions, Administration maintains the verified Universities Directory:
  • New university campuses are mapped to their official institutional domain names (@university.edu.pk).
  • Organizers and students registering from those institutions are automatically organized into distinct campus directories across the student marketplace discovery filters.

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4. Account Integrity & Anti-Scalping Moderation

UniTix Administration actively monitors platform transactions to protect the student community from unauthorized ticket scalping, bot reservations, or receipt fraud:
  • Accounts found attempting to commercialize or auction student passes above face value (PKR) are immediately restricted.
  • Voided or fraudulent reservations are instantly cancelled, and the associated inventory slots are automatically released back to legitimate students queued on the event waitlist.