The accounting feature help you keep track of your sales, transaction fees, payouts, and withdrawals. To access the accounting page, go to Sellers → Accounting. Here’s the list of actions that the page takes into account:

  • Orders
  • Order Status 
  • Refunds
  • Payout
  • withdrawal

The table on the Accounting page consists of the following columns:

  • Status—the status of the transaction; it applies only to payouts and withdrawals. There are three possible statuses:
    • Pending—a transaction gets this status by default. This status means that the payout hasn’t been processed. 
    • Completed—The payment is processed and confirmed.
    • Declined—The payment gets declined or isn’t made in full.
    Sellers can’t change the statuses of transactions on the Accounting page. Only purposemart administrators can do that.
  • Date—the date and time when the transaction appeared on the list.
  • Type—the type of the transaction.
  • Transaction value—a positive value means that the money was received during this transaction; a negative value means that the money was spent.

Payouts – collect seller plan and transaction fees #

Purposemart uses payouts to collect fees from Sellers. When Purpsoemart issues a payout, the seller is supposed to make the payment. Purpsoemart then receives the money and sets the status of the payout to Completed.

Seller administrators can’t issue a payout or change its status. Only Purposemart administrators can do that.

In most cases, payouts are issued and completed automatically:

  • Payouts are issued automatically with Pending status. This is done to request one-time and periodic payments from sellers for being subscribed to a certain plan.
  • Orders processed with striped will automatically collect payout and change the payout status to Completed when it’s collected 

Withdrawals- Distribute funds to sellers  #

Purposemart uses withdrawals to distribute funds to sellers. Payment will be automatically disbursed to you, 15 days from the order date for domestic orders or 21 days for international orders. However, you can also create withdrawal requests from your dashboard. we cover disbursement in a separate article here.

To request a withdrawal, a seller must:

  1. Go to Sellers → Accounting and switch to the Balance withdrawals tab.
  2. Click the + button in the top right corner.
  3. A pop-up window with the withdrawal creation form will open. There you can:
    • Specify the desired amount of money in the marketplace’s primary currency.
    • Enter a commentary, if necessary.

4. Click Create. A new withdrawal with the Pending status will appear on the list of transactions.

Once a withdrawal is requested, we’ll review to decide to process or decline.  

Income and Balance #

When working with the Accounting page, it’s important to understand two terms:

  • Current Balance—the total amount of money that a seller can withdraw.An order affects a seller’s balance only if the status of that order has the Charge to seller account checkbox ticked.
  • Income — payments for orders – (commissions + payouts)

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