Balance and trade credit
Balance and trade credit are essential elements for automatic settlements handling in e-commerce. Especially, if you run a wholesale store both functions are excellent solutions to assist your customers smoother.
One of the most important functions when running an online wholesale store is to have information regarding customers' balance. It allows, i.e.to include small underpayments or overpayments, caused by returns, during next shopping.
- By default the minimal balance of each customer is 0 GBP. However, it sometimes happens that customers purchase products that are out of stock. The situation is frequent in case of wholesale stores. The most convenient solution is to send all the available products and keep the money for the out of stock products on the customer's balance. Thanks to it, during next order, the system will use the money from the balance and match it with new orders.
- Effective and smooth returns handling
- If a customer returns products and buys new items, i.e. shoes of a different size, it is enough to refund the money to the customer's balance. During next shopping the money from the balance will be matched with a new order (as long as the amount is the same).
- A balance is assigned to a customer and not to an order. Therefore, the principle that an order needs to sum up with an amount is not broken. A balance can be used when, i.e. you want to equal the amount of payments in order to not to send a customer 2p or ask for 2p. The missing amount can be settled when paying for the next order.
- Search for your customers quicker
- With IdoSell.com you can search for your customers quicker. It is all owe to the restricted search results which include customer's balance. The option is useful when, as an owner of the wholesale store, you want to search for all trading partners who have, i.e. underpayments on their accounts. You can find such customers along with their data faster.
Online shops that purchase at online wholesale stores not always have accounting liqidity. Therefore, they are not always able to pay the total amount for the order. Taking into consideration the effective integration of a wholesale store with its trading partners, we make an option of a trade credit available.
The option allows to send the products without getting an advanced payment for the order. You can mark the postponed deadline for a payment on the invoice. The amount is paid after a set time, counted from the moment your customer receives the goods.
Trade credit functions
- System of automatic payment deadline reminders - If a VAT invoice is not paid before its deadline, IdoSell.com system will generate the call for payment and reminders that are sent to your customer's via email.
- Credit limit for a particular user - You can limit your customers' orders by setting a maximum amount of unpaid invoices. Apart from this option, the system also sends the reports to a shop or a wholesale store's owner. The reports include the details of debtors helping with debt collection.