Cash on delivery online sales reporting is a feature that allows retailers to track customer purchases without payment being made until the product is delivered. This type of arrangement is often used by stores that sell goods through a catalog or over the phone, as well as those that have multiple physical locations. When a sale is made in this manner, the merchant must be able to track and record the purchase using a variety of systems and reports.
Traditionally, COD transactions have involved only the use of cash. However, the term can also be used to refer to other forms of payment such as checks, money orders, credit cards or debit cards. The advantage of this form of payment is that it helps to reduce the risk of bad debt for the seller by reducing the amount of money committed up front. This can improve the credibility of a retailer, as shoppers can feel more comfortable buying items sight unseen. However, it can also increase the number of returns as consumers may be less committed to making a purchase when they don’t have to pay for it immediately.
In addition to the risks of COD, it can be expensive for businesses to provide adequate return infrastructure for customers. This can include providing adequate storage space, ensuring sufficient staff are available to process return requests and setting up a system for tracking where returned products have gone to. For small to medium sized companies, these costs can be very significant.
For some retail businesses, offering a COD option is essential for maintaining brand loyalty with customers and building a strong reputation in the marketplace. In these cases, the company might be unable to offer competitive pricing if they were to require payments upfront. This is particularly the case for e-commerce retail businesses and other marketplaces that are based solely on the Internet.
Other business sectors that benefit from a COD arrangement include food delivery services, clothing outlets, tailoring and dry cleaning. In some cases, the business might set a maximum price that acts as a qualification for COD and any orders that are over this limit are automatically rejected. This can reduce the number of expensive orders that a business has to deal with and can help to protect them from potential bad debt and unpaid sales.
The total sales report is a key metric for any retail or eCommerce business. It shows how much revenue a store has generated over a specific period and breaks this down into the types of transactions that have occurred, such as sales, refunds and shipping. It is a good idea to regularly review this report to ensure that the business is on track for the financial year.
Other useful finance reports include the Payments report and the Transactions by checkout currency report. The former provides a breakdown of the total number of monetary transactions by payment provider, including Shopify Payments and manual payments, while the latter breaks down the total number of transactions into sales and refunds.Отчитане на онлайн продажби с наложен платеж