Payments Reconciliation

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Payments Reconciliation

Remittance reports that provide order and payment details are available for you in the Seller Portal or via our XML APIs. They provide information to identify which orders you are getting paid for.

How to know if you got paid

1. Sign into your account on the Seller Portal
2. In the menu, go to Seller Tools > Reports
3. From the Report Type drop down, select “Remittance Info”. (Tip: you can start typing and the list will filter to what you are typing)

4. Select the Start Date and End Date for the time frame that you would like to run the report
5. Click “Download Report” to get your report

The Remittance report

Important note: Information populates on this report about 2 business days after the payment is made.

The following is a breakdown of the fields that are contained in the Remittance Report:

Field NameWhat does it mean?
PO #The seller PO number that was paid out
PO DateThe original date of the PO
Invoice IDID number that is generated by Sears
Invoice NumAdditional reference ID number generated by Sears
TypeType of transaction: Order, Return Goods, Adjustment, MP Monthly Program Fee
Invoice DateThe date that the PO was closed/invoiced
Invoice AmountThe exact amount due to the seller for that invoice
EFT #The number assigned to that day’s funds transfer
EFT DateThe date the funds transfer was initiated by Sears
EFT AmountThe total amount of all invoices being paid by the EFT # on that day
Site NameThe site on which the sale took place
RMA NumNumber generated by Sears when a seller has authorized a return for a PO
Seller Invoice NumIf the seller selected ‘Manual Invoicing’ this is the number the seller provides during invoice process
Customer Order Confirmation # Customer Order Confirmation number listed on the original purchase order
Total Selling Price for the orderThe sum of the price for all items and quantities on the order
Commission for orderThe amount of commission that Sears deducted from the selling price and shipping
S&H Fee charged for the CustomerShipping fees collected during checkout
Balance Due to Seller for orderThe amount being paid to the seller.  (Selling Price + Shipping) – Commission Price + Tax
Return Reason CodeInternal Sears reference code
Adjustment typeReturn = Qty used to refund.  Sale_refund = dollar amount adjusted instead of qty.
Account typeMarketplace account type
Shipping Tax AmountAmount of tax charged on shipping cost if applicable
Sales Tax AmountAmount of tax charged on product cost if applicable
Total Tax amount for the orderShipping Tax Amount + Sales Tax Amount
Regulatory Fee AmountAmount collected for fees for items such as Mattress or Electronics recycling fee

Reconciliation process

You may notice that payments from different orders/items are consolidated into a single payment, in which case the remittance report can provide a breakdown of which orders were consolidated into which payment.

Use the PO # on the Remittance Info report to identify the order the payment is being made for.

Types of fees are deducted from payments

Returns

Deductions made after the product has been marked as returned or adjusted in Seller Portal, regardless if the seller or Sears marked the item as returned/adjusted. These funds were deducted from the EFT associated with that line item of the report.

The PO # listed on the report, will match the corresponding adjustment or return on the Purchase Order in Seller Portal.

On the report, look at the column “Adjustment Type.” “Return” = Qty used to refund.  “Sale_refund” = dollar amount adjusted instead of qty.

For more information regarding RGI claims, please see What is a Return Goods Invoice (RGI)?

Monthly Program Fees

To be on the Marketplace, you are charged a monthly program fee of $39.99. If you have indicated EFT Transaction in your account settings under Billing Information, Monthly Program Fee Payment Type. The fee will be deducted from one of your payments during the month.

To identify this deduction, Type = MP Monthly Program Fee. The Invoice Id will follow this pattern:  O{Y}048{XXXX}.

Y = last digit of the fiscal year.  048 is a static #. The last 4 digits are the unique claim identifier.

Adjustment

Adjustments may be related to a manual credit or deduction made on your account for certain orders.  If you are not able to identify the source of this, please contact us using Topic: Seller Portal Reports & Subtopic: Remittance Information Report.

Payment Frequency

If you have select automatic invoicing, payments are transferred into your account between 13-15 days after the order is shipped with valid tracking information and invoiced. For example, if you received an order yesterday, but provided tracking information and marked it as ‘Shipped’ in the seller portal today, you would receive a deposit in your account 15 days from today. This information would then appear on the Remittance Report about 2 days later.

If you have selected manual invoicing, payments are transferred into your account within 13-15 days after you create an invoice.

Getting Help

Payment review

Please check to make sure the order was fulfilled with a valid tracking information in Seller Portal. If a member contacted us, we always first contact your customer service, however if you are non-responsive and the tracking number provide is not valid, we will immediately refund the member and it will appear as a return in Seller Portal and in your Remittance Info report.

What if the tracking was valid and we did not receive payment for the order?

1. Make sure the order is invoiced in Seller Portal. If you do not have automatic invoicing turned on, you will not get paid until after the order has been invoiced.

2. Has it been 15 days?  If not, be patient and wait another day or two.

3. Did you recently change your bank information? Make sure that you have received confirmation from our AP team that the bank change is complete.

Still need help?  Use the Contact Us form.

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