If you look at the Summary table in the Finance section of Partner Portal, you will recognise the following sections:
- (a) Items Carried Over: Items we have successfully picked up the previous month and delivered this current month
- (b) Items Picked Up: Items RedMart successfully picked from you during this month
- (c) Items In Transit: These are the items that we picked up this month but will be delivered to customers the following month. Example: If we pick up items in the last day of the 31st January and delivery is the next day, which is 1st of February, these items will show as in transit for January summary of movements
- (d) Items Undelivered: These are the items we picked up from you and should have been delivered to customers but weren't (wrong product, expired, customer rejected at delivery, broken in transit and many other reasons possible). See here to learn more about Undelivered Items.
- (E = a+b-c-d) Total Amount for Successfully Delivered Items of (Current Month): This is the amount for Items Carried Over plus Items Picked Up, less Items In Transit and Items Undelivered.
- (f) Commission: Also known as RedMart Commission, is the amount charged by RedMart on each items sold. The commission applies even when the item is on promo. Our Invoice is issued on the amount of the commission, on the performance fee and on the GST applied to both the commission and the fees
- (g) Failed Pick Up Fees: This is the fee charged when situations such as Out of Stock or Shop Closed/Unattended occurs causing an unsuccessful pick up
- (H= E-f-g) Payable for Successfully Delivered Items of (Current Month) after Commission and Fees: This is the amount payable for successfully delivered items less Commission and Failed Pick Up Fees (if any).
- (i) Discount on Items Undelivered: This discount is equivalent to the commission on the the items undelivered.
- (j) Items Returned: From all the items undelivered for current and previous month, RedMart will filter those that are either RedMart responsibility or customer return due to convenience, the items left will be returned to sellers. See here to learn more about Returned Items.
- (k) Refund of the discount for Items Returned: Refund of the discount applied to the items undelivered which are returned to sellers after the QC session
- (l) Adjustments: These are lump sum paid to you or deducted from your payout. They can be used to settle discrepancies in previous invoices (e.g. items to be returned but never received) or for quality issue (e.g. item to be refund to the customer as it is infested). The debit notes issued by us will have a positive sign (RedMart will add then specified amount of money to your payout) while credit notes will have a negative sign (RedMart will deduct the amount of money specified from your payout). More info on the invoice adjustments here.
- (M= d-i-j+k(+/-) l) Total Amount for Undelivered/Returns and Adjustments of (Current Month): This is the total amount for Items Undelivered less Discount on Items Undelivered and Items Returned, plus Refund of the discount for Items Returned, and plus/minus of any adjustments.
- (H+M) Final Payout: This is the amount for successfully delivered items of the current month after adjustments (if any) and deductions which RedMart will pay to you each month.
You can print the finance page by clicking on the "Print" button at the top right corner of the summary.
More information on the Finance Terms used in this article, here.
If you are looking for information about the new "Document History" section, please click here.