How to check your sale invoice?

How to check your sale invoice?

Introduction

To enhance financial transparency and foster trust, LAAM has redesigned its seller ledgers, making them more intuitive and user-friendly. This updated version introduces several key improvements, ensuring a clearer breakdown of earnings, deductions, and adjustments.

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Video Tutorial

Key Enhancements:

  • Comprehensive Summary Page: Offers a detailed view of seller earnings and deductions, categorized into four sections for better clarity:
    1. Items Sold
    2. Items Refunded
    3. LAAM Services (if applicable)
    4. Adjustments (if applicable)
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1. Items Sold

This section provides an overview of the total revenue generated from sold items, along with deductions for commissions and applicable taxes.

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Key Terminologies & Definitions

  • Total Realized Sale – The total retail price of all items recognized in the ledger cycle.
  • LAAM Gross Commission – The initial commission deducted by LAAM on realized sales.
  • LAAM Discounts – Discounts offered by LAAM (such as rewards or coupons), deducted from LAAM’s commission.
  • LAAM Net Commission – The final commission amount after subtracting LAAM Discounts from LAAM Gross Commission.
  • PRA Tax – Calculated as 5% of LAAM Net Commission.
  • Withholding Sales Tax – 1% of (Total Realized Sale - LAAM Discounts).
  • Withholding Income Tax – 5% of (LAAM Net Commission + PRA Tax), added to the seller’s payable balance since the seller withholds and submits LAAM’s income tax.

2. Items Refunded

This section summarizes refunds processed for previously realized sales within the same or earlier ledger cycles. It includes refunds for commissions and applicable taxes.

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Key Terminologies & Definitions

  • Total Refunds – The sum of all refunds for previously realized sales, deducted from the seller’s payable balance.
  • LAAM Gross Commission – The commission initially deducted on the sale, refunded to the seller upon item return.
  • LAAM Discounts – Discounts previously deducted from LAAM’s commission, shown as a positive adjustment upon refund.
  • LAAM Net Commission – Also shown as a positive adjustment, as the original commission is refunded.
  • PRA Tax – 5% of LAAM Net Commission, refunded back to the seller.
  • Withholding Sales Tax – 1% of (Total Refunds - LAAM Discounts), refunded to the seller.
  • Withholding Income Tax – 5% of (LAAM Net Commission + PRA Tax), deducted from the seller’s payable balance.

3. LAAM Services (If Applicable)

This section provides a breakdown of services availed by the seller, along with their associated charges.

Service Categories:

  • Ads as a Service
  • Shoot as a Service
  • PR as a Service
  • LAAM Advertising
  • Web Shoot as a Service

4. Adjustments (If Applicable)

This section accounts for adjustments made in specific cases, such as post-delivery international issues, commission modifications, or other necessary corrections.

Additional Features:

  • Sellers can access definitions of terms by clicking the "info"
  • Tax calculations dynamically adjust based on the seller’s tax status.

Item Detail View

Simplified Item Statuses in Ledgers

To improve clarity, ledgers will now display the following item statuses:

  • Sold – When an item is recognized in the ledger cycle.
  • Refunded – When a refund is processed within the ledger cycle.

Enhanced Visibility of LAAM Discounts

LAAM provides discounts through rewards, coupons, or HVC (High-Value Customer discounts), which are deducted from its commission. These discounts do not impact seller earnings but are transparently displayed under LAAM Gross Commission.

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Formula Transparency in Item Exports

To simplify calculations, ledger exports will now include formula visibility based on the seller’s tax status:

  • Not Active in FBR
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  • Active in FBR (Not Withholding)
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  • Active in FBR & Withholding
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This structured approach ensures that sellers can easily interpret their financial records, taxes, and deductions, enabling better decision-making and trust in the platform. Note: For any further clarification please submit your query at https://sellers.laam.pk/forms/help-center


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