What is Account Statements in Seller Center versus Statement of Accounts from Finance?

Kristina

Terminologies in Account Statement (Seller Center)

Opening Balance - it is the negative amount carried forward from the previous statement.

Sales Revenue is the  sum of the selling prices of the items DELIVERED successfully to customers in the current payment cycle.

Other Revenue - it is not a regular line item. It is used for ad-hoc adjustments such as reimbursement of shipping fee or credit for any mistakes in the previous payment cycle.

Fees - it is the sum of payment fee, shipping fee and commission for the item that was tagged as delivered within the cut off period which will be deducted to the merchant. 

  • Payment Fee
  • Shipping Fee (Item level)
  • Commission 

Returned or Cancelled Orders - it is the current sum of the selling price of the items that were RETURNED by customers up to the cut-off date that will be deducted from your payout.

Refund on Fees

  • Commission - commission related to the returned orders. 

Closing Balance - reflects the gross payout to you.

 

Terminologies in Transaction Overview (Seller Center)

  • All Transactions

- you can check here all transaction that was credited and debited on your account.

  • Payment Fee 

- base in seller agreement is a fee, calculated on the basis of a percentage of the Listing Price of a Product, as payment for services such as payment processing and/or fee for the cash on delivery service provided by Lazada.
- This is 1.68 % of the item price.

  • Payment Fee Credit

- Payment Fee reversal. For mistakes/double charge of payment fee in the previous payment cycle.

  • Shipping Fee (Item Level)

- Shipping fee charge to Merchant for the shipped items within the cut-off period.
- Seller Center calculates shipping fee based on the package dimension of SKU.

  • Item Price Credit

- Shows the selling price of the item. All order that was tagged as delivered.

  • Item Price

- Shows the selling price of the item that has been returned/refund.

  • Commission Credit

- Commission of returned items to be reverted/credited back. This sum is now added back to your sub-total. (i.e. Lazada Philippines does not earn commission on returned orders)

  • Commission 

- Imposed on the sale of your store or commission of goods that was successfully delivered within the cut-off date.
- Seller Center calculates commissions based on the set category of the item.

  • Cancellation fee

- Order that was cancelled due to Out of Stock / Sourcing Delay / Wrong Pricing 

  • Automatic Shipping Fee

- for crossborder seller.

 

Terminologies in Statement of Accounts (From Finance)

Sales revenue (GMV) credited - sum of sales revenue.
Revenue from claims - sum of the selling prices of the items (from approved claims).
Other revenue credited - used for ad-hoc adjustments
Other revenue debited - Bulky Fee and ODZ that was paid by the customer. It was credited to you but will also debit to you. 
Sales revenue (GMV) debited - returns -  items that were returned by the customers.
Total Net Revenue - Sales revenue credited less the sales revenue debited.

Commission on sales revenue - sum of commission (will debit to you)
Commission on Claims  - sum of commission from the approved claims (will debit to you)
Commission on Returns - sum of commission from customer return (will credit back to you)
Commission Adjustments - over/under-charged, etc.
Net commission (Inclusive of VAT) - Sum of Commission (Inclusive of VAT)
Net commission (Exclusive of VAT) - Sum of  Commission (Exclusive of VAT) 
+12% VAT - Amount of VAT in Commission
                     - It is 12% of total Net commission that (exclusive of VAT).

Fulfillment fee on sales revenue - sum of Shipping fee (will debit to you)
Fulfillment fee on claims  - sum of shipping fee from the approved claims (will debit to you)
Fulfillment fee adjustments - over/under charging, etc. 
Net fulfillment fee - Sum of Fulfillment Fee (Inclusive of VAT) 
Total fulfillment fee - Sum of Fulfillment Fee (Exclusive of VAT) 
+12% VAT - Amount of VAT in Fulfillment Fee
                     - It is 12% of Total Fulfillment Fee (exclusive of VAT).

Payment fee on sales revenue - it is the sum of payment fee. (will debit to you)
Payment fee on claims - it is the insurance of the items from the approved claims. (will debit to you)
Net payment fee - Sum of Payment Fee (Inclusive of VAT)
Total payment fee - Sum of Payment Fee (Exclusive of VAT)
+12% VAT - Amount of VAT in Payment Fee
                     - It is 12% of Total Payment Fee (exclusive of VAT).

Other fee - is the sum of cancellation fee, penalties, service fees, etc. (will debit to you)
Other fee adjustment - it is the penalty reversions, over/under charging, etc. (will credit back to you)
Net Other fee (Cancellation, penalties, service fees etc.) - Sum of Other fee (Inclusive of VAT)
Other fee - Sum of Other fee (Exclusive of VAT) 
+12% VAT  - Amount of VAT in Other Fee
                     - It is 12% of Other Fee (exclusive of VAT).

Total Net Charges - Sum of deductions to merchant
Total Due to seller - Amount that will be credited to you

*For Tax Agent Seller (Seller should provide BIR 2307)*

EWT (ATC: 515) - WHT (10%) of Commission fee
EWT (ATC: 120) - WHT (2%) of Fulfillment fee, payment fee, other seller fee
Net Due to Seller - indicates amount that will be credited to you

*Sample of BIR 2307*

2307_1.PNG

 

Reminders:

  • BIR form 2307 is downloadable at BIR Official Website or click here for the PDF link or here.
  • Seller who is Tax Agent need BIR form 2307 because Lazada makes payment of CWT to BIR through you. WHT is added to your receivable. In turn, for Lazada to claim for WHT, we need a proof (the form 2307 from you) that Lazada paid for the CWT (Reimbursement).
  • Seller will withheld WHT to BIR using 1601-E Form.

 

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