Accounts Receivable Report

  • Updated

Contents

  1. What is it?
  2. How do I access the report?
  3. What's in the report?
  4. Other considerations

 

 

What is it?

The Accounts Receivable report provides you with the finance data you need to reconcile the funds received by Returnly.

This report shows money flows generated from Repurchases or Exchanges on Returnly Credit between Returnly and your Store. Each record is an RMA associated with a credit transaction where funds were sent or will be sent to you to cover that credit transaction.

The video below explains the contents of the report, as well as how to use it.

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How Do I Access the Reports?

When logged into your Returnly instance, click on Reports from the lefthand menu. Under Reconciliation, you can click on the Accounts Receivable link.

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You'll then see a pop-up that allows you to select your timing parameters.

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You can use any of the pre-sets from the first drop-down menu, or select the specific time window yourself, along with your timezone.

AP_Report_02.pngYou'll get a confirmation message that the report is being generated and sent to your email address. Remember, the report comes in a .csv (comma separated values).

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What's in the report?

Each RMA associated with a credit transaction (Repurchase or Exchange) in the Accounts Receivable report contains the following fields and definitions:

Field Definition
New Order Date Timestamp for when the Repurchase or Exchange order was made
Credit Paid Date Timestamp for when the Repurchase/Exchange order (minus commission) was paid to you (the merchant)
Payment ID Unique Identifier for the payment object. Multiple Repurchases/Exchanges can be grouped into a single Payment ID. The sum of Accounts Receivable Amount for the same Payment ID corresponds to the amounts received by the merchant in their bank.
New Order ID Order number for the repurchase or exchange order
RMA ID The RMA number related to the return that allowed for the new order
Voucher ID ID of voucher used for the new Repurchase or Exchange order
New Order Type Indicates how the customer bought their new items: Repurchase, Exchange.
New Order Amount Amount that the customer has spent on the new order created in a repurchase or exchange.
New Order Tax Amount The total amount of taxes based on the order.
Credits Spent Amount

The amount of credit used.

This will be: 

  • Less than the initial balance if only part of a voucher was used. Financial Reconciliation Overview
  • Equal to the initial balance in an exchange for a variant.
    or
  • Greater in a Repurchase with uplift or product Exchange with uplift.
Commission Amount The amount of commission that Returnly is collecting on the transaction. This is an agreed-upon storewide rate e.g. 10% on Exchanges and Repurchases, and is collected on the order total.
Uplift Amount The amount paid by the customer directly on top of their Returnly Credit.
Accounts Receivable Amount The credit spent amount minus (-) commission amount that the merchant receives.
Original Order ID Order number of the original order that the customer is returning.
Shopper Email Email that the customer used to place the original order and to initiate the RMA.

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Additional Considerations

Accrual Reconciliation

If a record in this report does not contain a Credit Paid Date and Payment ID, the Accounts Receivable Amount can be accrued as it has not been received by the merchant yet (24-to-48-hour latency).

If a record in this report contains a Credit Paid Date and Payment ID, the Accounts Receivable Amount can be reconciled with the merchant’s Bank Statement or Stripe account as that would mean the merchant has already received the funds fronted by Returnly.

 

Utilizing your report for specific purposes

If the report will be used for auditing or granular review of the data, you can explore each RMA associated with a credit transaction in the report.

 

If the report will be used for reconciliation and accounting:

  1. Create a pivot table:
    • Rows: Credit Paid Date, Payment ID.
    • Values: Accounts Receivable Amount.
  2. Accrue the Accounts Receivable Amount where Credit Paid Date and Payment ID are empty. Financial Reconciliation Overview
  3. Reconcile with your bank statement or Stripe account money received from Returnly due to Credit, through the Accounts Receivable Amount where Credit Paid Date and Payment ID are not empty.

    Note: The Payment ID is searchable in Stripe if you have a Stripe account connected to Returnly.

You can use your Accounts Payable report to complement the Accounts Receivable report to validate if funds Returnly sent you did get debited (pulled) from your account at a later date.

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For more information on reconciliation and best practices, see Returnly's Return Reconciliation Guide.

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