Understanding remittance advices

Remittance advices show payment amounts owed, requiring operator action for fund transfers to sellers. Marketplacer provides two versions of these notifications: operators access them via the portal, and sellers conveniently view their activity's advices through the seller portal.

Sellers can also see the date of their next scheduled remittance advice in the seller portal, helping them understand when they are due to be paid. 

Enabling remittance advices

To enable this feature:

1. Sign in to the Operator portal.
2. Go to Configuration > Seller Settings or Member Settings.
3. Under General Settings, check the Enable advanced remittances box.
4. Click Submit.

Remittance advice processing

Remittance processing runs automatically according to each seller's configured remittance schedule:

• Operators receive an email detailing the payments due and any errors that occurred.
• Sellers receive an email listing the amounts processed for dispatched order(s) of their items.

There are two implementations of remittance advices:

• The original implementation groups remittances by invoice.
• Implementation 2.0 groups multiple invoices together. Processed remittances and unprocessed remittances are listed separately and unprocessed remittances include reasons. 

The remittance displayed includes the net amount being paid, less merchant fees and commissions.

Depending on how the remittance feature is configured in the marketplace, the approval of remittances occurs automatically, manually or based on a schedule.

If a scheduled payout fails, the system automatically retries, helping ensure that sellers are paid reliably.

Payments are actioned by the operator based on their own business practices.

Configure default remittance delay and schedule

1. In the Operator portal, go to Configuration > Seller Settings.
2. In the Subscriptions and charges section, enter a value in Remittance delay (days) for the default delay before invoices become eligible for remittance.
3. Under Default Remittance Schedule, choose one of the following options for newly created sellers:
   • No schedule: No automatic remittance schedule is applied.
   • Monthly: Set Every [x] months on the [y] day of the month.
   • Weekly: Set Every [x] weeks on the [weekday].
   • Daily: Set Every [x] days.
4. Adjust the numeric fields to create the interval you need (for example, every 2 weeks or every 10 days), then save your changes.

Override remittance delay and schedule for a specific seller

1. In the Operator portal, go to Sellers > Manage sellers.
2. Click the pen and paper icon next to the seller you want to update.
3. In the Remittance Details section, update Custom remittance delay (days) and the seller’s remittance schedule.
4. Save your changes. The seller’s individual settings override the default delay and schedule so you can tailor payout timing to your commercial agreement with them.

View remittance advices as an operator

• View remittance advice summary as an operator (original implementation)
• View remittance summary as an operator (implementation 2.0)

View the remittance summary report in the Seller portal

• View remittance summary as a seller (original implementation)
• View remittance summary as a seller (implementation 2.0)