Menu Close
    Start a Project Request quote Reading list Switch to dark mode
    hyperlocal-marketplace-guide

    BigCommerce Seller/Vendor Payout

    Overview:

    This blog is all about the BigCommerce seller/vendor payout. Seller/vendor payout is the remaining balance that an admin sends to the seller/vendor.  When a seller/vendor purchase a product, the payout amount is calculated after deducting admin’s commission.

    When a sale is done in the store, the payouts feature is available for the administrator. And this feature allows sending the remaining amount to the seller/vendor. So, an admin can create a “payout” for the seller/vendor.  when admin receives “withdraw request” from seller/ vendor or admin require to pay the amount to the seller/vendor.

    When an admin transfers the amount to the seller/vendor, he can create “payout” in the report. And, an administrator, as well as the seller/vendor, can view this report from their backend respectively. Therefore, an administrator will give the money of the vendor’s product sale. And, will keep the record of the same.

    This report covers all the transaction about the order’s placement each time a new order is created. And also covers record of seller plan transaction when a seller/vendor opted a plan.

    When an order of a particular seller/vendor’s product is completed, all the amount will be transferred to admin. So, the admin now needs to give away the money to the seller/vendor after taking away his commission. And, the commission can be seller/vendor specific. For instance, the commission is set for the seller/vendor based on the plan seller/vendor opted.

    Note:

    1. BigCommerce Marketplace application does not support live payments to the seller/vendor for any remaining balance or payouts.

    2. This application helps you manage the record of Accounting. So, an admin needs to manually enter the “payout”. After creating “payout”, admin can transfer the amount through any Payment mode like cash, account transfer, etc.

    BigCommerce Accounting reports carry credit and debit transactions. The credit transactions are the successful orders and the debit transactions are the payouts done by an admin. Therefore, this report gives you a view of the pending amount to be paid, the total paid amount and the total sale, total commission, payout and withdraw.

    Given below is the flow of the process of managing accounts in BigCommerce at admin end:

    When an order is completed admin can find the transaction of “Order Placement” in the Account report. And an admin can approve or decline the transaction from here. So, in given screenshot details of an order, placement is shown. For example, the details of the two orders are given:

    1. In the first order, the total sale is of Rs. 100, which is distributed among admin and seller/vendor based on the admin’s commission. For example, admin commission is 5%, the order is of Rs 100. So, it will deduct the commission (5% of 100) and rest amount will be the payout amount of seller/vendor.
    2. Similarly, in second order it distributes the commission and transaction amount based on the commission of admin.
    In the Account section, admin can view the transaction details “Order placement” when an order is placed. And, “Payout” when a seller/vendor order for seller plan. Admin can find the details in a summary as:
    1. Total Sale: In the total sale, admin can view the total sale which is created when a customer purchase product. For example, in the above report, the total sale is Rs 300. So, this amount is distributed among admin and seller/vendor.
    2. Total Commission: This is the amount admin get from seller/vendor after purchasing of the seller/vendor’s product. And, an admin will get the amount depending on the commission based on the seller’s plan. In the above report, an admin will get 5% commission from every purchase of seller/vendor’s product. So, this application helps you to distribute the commission of admin and amount of seller/vendor. Meanwhile, after distributing amount admin can create “Payout” and transfer amount to the seller/vendor. And, this amount can be transferred through any payment mode as per his requirement.
    3. Total Payout: “Payout” is the remaining amount admin will send to seller/vendor after deducting his commission for a sale. And, After distributing amount admin can create “Payout” and transfer amount to the seller/vendor through any payment mode. Admin requires to create a “Payout” manually. This helps you to manage the data for a payout. Further, In the above report “payout” is of Rs 100 which created by default when a seller/vendor purchase a seller plan.
    4. Total Withdraw: This is the amount that a seller/vendor request to an admin after a sale. In the above report, the seller/vendor doesn’t request for any withdraw from admin.
    Let us now view the report when an admin creates a “payout” for the seller/vendor:

    Given below is the view of the Accounting report when an admin creates a “payout” to the seller/vendor. For example, admin has created “payout” to seller/vendor of Rs 100 manually. Here in summary of the accounting report, on total sale of Rs 300, admin commission is Rs 15. And after creating “payout” of Rs 100, balance amount that admin require to pay is Rs 85.

    Given below is the flow of the process of managing accounts in BigCommerce at seller/vendor end:

    When an admin creates a “payout” to seller/vendor then seller/vendor can find this in his accounting report. And, this report covers the transactions like “order placement” for a sale, “Payout” created by admin. Seller/vendor can request for “withdraw” once a sale is completed. This withdraw amount is the remaining amount after deducting admin’s commission from the amount received from the customer.

    In given below report seller/vendor can view “payout” with the payment details approved by admin. It means admin had transferred the amount to the seller/vendor’s account. And also share the account details to verify the transaction occurred. In a summary report, the seller/vendor can view the total sale done, a total commission of admin, total payout received and withdraw the amount. Here seller/vendor hasn’t requested any withdrawal the amount from admin.

    Let us now view the report when a seller/vendor requests a “withdraw” from admin:

    Given below is the view of the report at admin end when a seller/vendor request a withdraw from admin.

    Firstly, when a seller/vendor request for “withdraw” an admin can view his request in pending mode. After that, he needs to approve the report by his side after sending the amount to the seller/vendor.

    In the above report, admin can view the updated Accounting report of BigCommerce. When a seller/vendor has requested for withdrawing amount, an admin will find the request in his accounting section in pending mode. If admin requires to send the pending amount to seller/vendor then he can approve the seller/vendor withdraw request. After that, send the amount to the seller/vendor through any payment mode. Therefore, this accounting keeps the record of the “Payout” created by an admin and “withdraw” request by seller/vendor.

    Frequently Asked Question (FAQs):

    1. Hi, I Installed the multivendor app for BigCommerce, how do vendors get their money? And how do I get my commission after setting the commission on the plans?

    Ans. When a sale is completed, in the Accounting section, admin can find the details of “order transaction”. This application distributes the amount into “Commission” where admin find the amount of his commission (based on the plan seller opted). And “Transaction Amount”, which is the remaining amount after deducting admin commission. Admin will get all the payment of the sale from customer through the payment method customer selected. Once an admin gets all the amount he can send the remaining amount(after deducting commission) to seller/vendor through any payment mode. To maintain the record of this transaction admin will create a payout manually. This application distributes the amount among admin and seller/vendor and the rest of the record needs to be entered manually.

    2. I watched the video but still unclear how the distribution of funds works. When we create a payout, will the seller automatically receive the funds or is it just a notification and we will have to manually send them the funds?

    Ans. You can find the distribution of the amount received from the customer in the Accounting section. An Admin will create payout manually in order to maintain the record. After creating payout, the admin needs to send the amount to the seller/vendor through any payment method. This helps you to keep the record of the payouts, an admin sends to sellers/vendors.

    Support

    That’s all for BigCommerce Seller/Vendor Payout, Still, have an issue feel free to add a ticket and let us know your views to make the application better webkul.uvdesk.com

    . . .

    Comment

    Add Your Comment

    Be the first to comment.

    Back to Top
    css.php
    Hire Us!
    Brief us about your requirements and we'll get back to you.
    Woo! Hooy!
    We have just recieved your project brief and our expert will contact you shortly.
    Send Again
    Close