What do the fields for the sales details mean?
- "Opening Balance" is the amount carried forward from the previous statement if the previous statement resulted to a negative closing balance.
- "Item Revenue" is the current sum of the selling prices of the items delivered in the current payment cycle
- "Other Revenue" 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.
- "Fee" is the sum of commission charges, shipping charges, and other fees such as but not limited to penalties, and other adjustments per the agreed contract.
- "Refund" 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.
- "Fee on Refund" is the commission related to the returned orders. This sum is now added back to your sub-total (i.e. Lazada does not earn commission on returned orders).
- "Closing Balance" should be the total of all the revenue items and charges in your Account Statement.
- "Payout" indicates amount due to you before any adjustments not reflected in the Seller Center. In normal circumstances, it should be as same as closing balance, except if the amount resulted to a negative balance which payout should reflect as “0.00 THB”. Payout should be tied up with “Total due to seller” in your SOA (amount before withholding taxes, except when there are adjustments not reflected in SellerCenter)
To learn more, visit Lazada University >>"Financial Reconciliation"