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financials
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
- Need to be able to see payment history?
- 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?)
All sellers need to be able to review their upcoming payments so that they can understand when they will be paid, and why they have or have not received payment for an order. Some sellers are paid offline by their market managers, while others are paid automatically by Local Orbit (weekly Wednesdays). They need to be alerted when they receive an automated payment. All sellers need to be able to download a record of their payment history that clearly shows how much they have been paid per item.
Some market managers need the ability to send invoices to buyers who have used a purchase order at checkout. The market manager needs to know when an invoice is ready to be sent, and needs to be able to preview, save and download the invoice before sending. The buyer will remit payment to the market manager offline. Then the market manager needs to have the ability to record the payment in the system.
Some market managers pay their sellers offline. The market manager needs to be able to clearly see how much each seller is owed. The market manager needs to have the ability to record the payment in the system. In other markets, sellers are paid automatically by Local Orbit. In this case the market manager needs to be able to see the amount of the seller's upcoming payment, and needs to be able to see when the payment has been sent.
Market managers need to be able to download a record of all payments that have come in and out of their market. Market managers also need to be able to see a clear summary of the types and amounts of fees that have come in and out of their marketplace.
For sellers who are paid automatically through the system, admins need a way to verify that the payment amounts are correct.
For orders that have been paid by ACH or credit card (Local Orbit receives the money), admins need to be able to automatically send the delivery and market fee to the market. Admins need to be able to verify that the payment amount is correct.
Admins need to be able to collect fees from markets, including their monthly service fee, and any Local Orbit or payment processing fee due for orders where the buyer remitted payment directly to the market. Admins need to be able to verify that the amount charged is correct.
Admins need to be able to download a record of payments that have come into and out of Local Orbit. Admins also need to be able to see a clear summary of the amounts and types of fees that have been received or disbursed.