financials

Financial High Level Overview

This is a high level overview of the required financial functionality and features on the Local Orbit site. This is based on current practices as well as the financial revision that was not completed in 2013. The overview is organized to show what tasks each type of user performs.

Additional information about money in and out of Local Orbit (cross-referenced in the Payments wiki page): https://www.evernote.com/shard/s19/sh/26c82ade-4056-477a-9452-1efc0361e1f3/503e8d876c7b3a2cce3faef4304623d1

Buyers

Paying at checkout (CC or ACH)

• Need to be able to see payment history?

Paying via PO

• Need to receive downloadable, and printable, invoices received via email
• Payment is handled offline and direct to the market
• Access to payment history (and status?)

Sellers

• Review upcoming payments (and the orders associated with this payment)
  • Know where the payment will come from
  • Receive an alert (email) when an automatic seller payment is made
• Review status of orders the seller has not been paid for
• Review orders seller has been paid for
• Access to payment history (and status?)

Market Managers

Sending Invoices

• Invoices are sent for groups of PO's
• Needs to know when an invoice is ready to be sent (what?)
  • Should this say "See PO's marked delivered" ?
• Preview an invoice before sending
  • Download (Why is this before sending?)
  • Save (Why is this different than actually sending?)

Entering Receipts

• Marks an invoice paid when offline payment is received from buyer

Paying Sellers

Through LO

• Review (approve?) upcoming seller payments (amount, date, and status)

Offline Payment

• Review amount owed to each seller
• Record an offline payment to seller

Viewing Activity

• View/download past seller payments
• View/download buyer payments
• View outstanding invoices
• View fees summary (type and amounts)

Admins (LO personel)

• Review (approve?) payments to sellers from LO
• Review (approve?) payments for delivery and market fees to each Market
  • CC and ACH buyer payments received by LO
• Review (approve?/set payment date?) payments to be collected from Market
  • Monthly service fee
  • LO transaction fees for offline payment
  • Payment processing fees (How would this apply at this stage?)
  • Combine into one invoice for single payment?
  • Send invoice for offline payment?
• View/Download activity
  • Payments to sellers
  • Payments by buyers
  • Payments to/from markets
• Summary of fees collected (type and amount)