Marketplace Payment Cycles
When to Get Paid
eCommerce marketplaces including Amazon, Flipkart, Snapdeal etc, pay the amounts due to sellers as per the predefined payment cycles. These are done to ensure consistency and provision for correct reconciliation and returns.
When will I get Paid
Settlement dates are pre-defined by marketplaces which generally range from 7 days to 15 days, either as per the date of sale or calendar month.
How will I get Paid
Almost all marketplaces will settle the payments through wire transfer to the Seller's Bank Accounts and provide the details in settlement report.
The Marketplace Payment Cycle modes from customers could be Cash on Delivery or Prepaid. In either case, the seller gets the payment in Postpaid mode.
What is Deducted
Marketplaces charge various costs including selling fees, logistics, picking, packing, storage, and compliant deductions like TCS and TDS.
How to Reconcile
Reconciliation can happen either through manual spreadsheets or by using state-of-the-art automated reconciliation tools like eVanik OneWorld Suite.
When to Reconcile
The reconciliation activity should be ongoing as per either the payment cycle in case of huge order volumes or as per the calendar month, in the first week of the subsequent month.
When to Claim
The claims fall into various buckets and need to be claimed as per the claim window defined by the eCommerce marketplace channels.
How to Claim
eVanik's R2R claim reports are pre-templatized, which means that there is no need to rearrange or reformat these sheets when raising a claim ticket to marketplaces.