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Last Updated: 6 December 2019
Detailed information about your income and current balance can be viewed in your Seller’s Account Dashboard (My Shop --> Finances). In Finances, you can track all paid and received amounts from your orders. The amounts you owe are the commissions for orders, paid for by clients using Cash on Delivery method, and the amounts you are owed are the orders paid for directly to Chopni less the commission.
The finalized orders within a calendar month are accounted for at semi-monthly periods.
Chopni will transfer to your bank account, all amounts, received from clients, for finalized orders during the current financial period, reduced by the commission owed to Chopni, and the amount for delivery added, when it is paid for by the clients. In case the payment was made directly to you by the client via Cash on Delivery and provided that the amount you owe Chopni is larger than the amount we owe you, you are to transfer the difference to Chopni within 3 days of the invoice issue date. The amount you owe is to be transferred to Chopni’s bank account.
Example in 3 steps:
When the current financial period has ended and the amounts are forwarded for payout, on the day before the date of payment, in your Dashboard on the right of your Balance, the Amount to Receive from finalized orders will show up. This amount will be transferred to your bank account on the day of payment.
One the day before payment, you will receive the invoice for the commission amount we will deduct for the financial period, on your email, and you may download it from there.
The amount owed for the commission would have already been deducted from the amount you will receive.
Respectively, on the 1st or the 16th day of the month, if it is a business day, or the next available business day if it falls on a weekend or holiday, the Invoiced Amount will be transferred to the Bank Account you have indicated in your Shop Settings.
After sending the amount due to you, for the finalized financial period, the amount for invoicing (Ready for Payout) under Your Current Balance in your Control Panel will be reset and the new Current financial period will start.
Your all-time sales will automatically be added to the Your Earnings to Date section of the Dashboard.
When all of your sales have been finalized via Cash on Delivery or the total amount exceeds the received payment by Chopni, your balance would be with a negative value “-“ and would show the amount which you are to pay to Chopni.
Detailed and full information about current and past financial periods of finalized sales, transactions and payments you can find in the section List of Sales, located in your Shop's Account.
Why Chopni keeps the received money for a certain period of time?
On the grounds of the European Legislation, the Customer has the right, in a period of 14 (fourteen) calendar days, after delivery, to return the product/s without owing compensation or penalty and without pointing a reason, provided that:
The refund of the amount paid is performed in the order of its processing, in a 14-day (fourteen day) period, as of the date of receiving the client’s intentions of termination the contract, on the grounds of the European Legislation and after the Seller has received the returned product.
Chopni keeps the received money from the Clients for the set period of time, so it could be refunded to the Clients’ accounts in such cases when they take advantage of their right to return the product.